ACME Solar Holdings Ltd Company Summary

ACME Solar Holdings Ltd Summary

ACME Solar Holdings Limited was incorporated as a Private Limited Company with the name ACME Solar Holdings Private Limited on June 3, 2015. Upon the conversion of the status to Public Limited Company, the Company name got changed to ACME Solar Holdings Limited on May 12, 2017 vide fresh Certificate of Incorporation on May 12, 2017 issued by the RoC. The Company further got converted into a Private Limited Company and the name was changed to ACME Solar Holdings Private Limited, dated July 1, 2020. Due to administrative and commercial considerations, Company once again converted from Public Limited to Private Limited on July 1, 2020. Later, the Company through a Board resolution dated May 27, 2024 was converted into a Public Limited Company and the name was changed to ACME Solar Holdings Limited dated June 22, 2024 issued by the RoC to the Company. ACME Solar Holdings is a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (FDRE) projects. The Company develop, build, own, operate and maintain utility scale renewable energy projects through engineering, procurement and construction (EPC) division and operation and maintenance team, and generate revenue through the sale of electricity to various off-takers including central and state government-backed entities. It has an aggregate Operational Project capacity of 1,340 MW (1,826 MWp) solar power projects; Under Construction Contracted Project capacity of 3,250 MW including solar power projects of 1,500 MW (2,192 MWp), wind power projects of 150 MW, hybrid projects of 1,030 MW and FDRE projects of 570 MW; and Under Construction Awarded Project capacity of 1,730 MW comprising 600 MW (870 MWp) of solar power projects, 450 MW hybrid power projects and 680 MW of FDRE power projects.The Company acquired 494 MW renewable energy plants, which were operational from ACME Group in 2017. It acquired installed capacity of 1 GWp of renewable energy till December 2017. In 2018, it developed 299.5 MWp solar power plant at Bhadla, Rajasthan; commissioned 50th solar energy power plant. In 2022, it commissioned over 3 GWp of renewable energy and has diversified the business operations into complex renewable energy projects of 570 MW of FDRE project from SJVN and 680 MW of FDRE projects from NHPC in 2024. In November 2024, the Company made an Initial Public Offer of 100,381,678 Equity Shares of Face Value of Rs 2 each by raising funds from public aggregating to Rs 2900 Crore, comprising a Fresh Issue of 82,907,630 Equity Shares aggregating to Rs 2395 Crore and 17,474,048 Equity Shares aggregating to Rs 2900 Crore through Offer for Sale.