About ACME Solar Holdings Limited

ACME Solar Holdings Limited operates as a major renewable energy Independent Power Producer in India-based company which develops and constructs and operates and maintains utility-scale solar and wind and hybrid and Firm & Dispatchable Renewable Energy (FDRE) solutions. The company received its incorporation on June 3, 2015 before transforming into a public entity on June 22, 2024 and obtaining BSE and NSE listing status on November 13, 2024. The company operates through an integrated business model which covers project development and land acquisition and construction and maintenance services for central and state government-backed entities through long-term power purchase agreements.

ACME Solar operated 6,970 MW of renewable energy projects through its operational and under-construction portfolio which included 2,540 MW of operational capacity as of March 31, 2025. The company operates in 11 Indian states with 75% of its operational capacity located in Rajasthan and additional presence in Andhra Pradesh, Telangana, Uttar Pradesh, Bihar, Madhya Pradesh, Odisha, Chhattisgarh, Punjab, Gujarat and Karnataka. The Group operates through 46 consolidated subsidiaries for financial reporting purposes.

ACME Solar Holdings Limited’s Achievement

The company achieved two major achievements by launching India’s biggest single-site renewable energy facility at Jaisalmer Rajasthan which reached full operation in January 2025 and received the Solar Pinnacle Award 2024-25 for Rajasthan’s largest solar power plant and the IPPAI Power Awards 2025 for the 1,200 MW project   .

ACME Solar Holdings Limited Key Management

• Manoj Kumar Upadhyay, Chairman & Managing Director.

• Nikhil Dhingra, Director and Chief Executive Officer.

• Shashi Shekhar, Director and Vice Chairman.

• Purushottam Kejriwal, Chief Financial Officer.

• Rajesh Sodhi, Company Secretary and Compliance Officer.

Latest Updates on ACME Solar Holdings Limited

The company achieved public listing status through its equity share listing on BSE and NSE on November 13, 2024 following its November 2024 Initial Public Offering.

ACME Solar completed the operational launch of its 1,200 MW SECI-ISTS facility located in Jaisalmer Rajasthan which covers 4,400 acres through four 300 MW SPVs (Raisar, Deoghar, Dhaulpur, Phalodi) at a tariff of Rs 2.44/kWh with an estimated CUF of ~30% .

• Portfolio growth: During FY 2025 ACME secured 1,900 MW of new projects including 1,300 MW of complex hybrid and FDRE projects with major offtakers SECI, SJVN, NHPC and NTPC; The company signed PPAs for 2,340 MW of its under-construction projects.

• Financing and refinancing: The company reduced its operational project borrowing costs by 75 basis points through debt refinancing and obtained Rs 16,515.1 crore in funding for 1,700 MW of new projects.

• Credit Rating: ACME Solar received a corporate credit rating upgrade to CRISIL A+/Positive in February 2025 while the 1,200 MW project SPVs received CRISIL AA-/Stable

.

• Operating focus: The company operates through an integrated IPP model which includes EPC and O&M services provided in-house and has launched wind and battery energy storage (BESS) projects starting with a 150 MW wind farm in Gujarat and a 275 MW/550 MWh standalone BESS project after March 31, 2025 .