ACME Solar Boosts Capacity to 2,453 MW with New Rajasthan Projects

10 Jan 2025 , 03:25 PM

Shares of ACME Solar Holdings Ltd surged close to 5% after adding 90 MW of solar power capacity in the Rajasthan state. Thus, the group has added total renewable energy generation capacity of 2,453 MW, as a result, to its already operational capacity-a major milestone of the growth strategy pursued by the firm.

ACME Solar said that its subsidiaries, ACME Dhaulpur Powertech Private Limited and ACME Raisar Solar Energy Private Limited, achieved commercial operation on January 7, 2025, on 62 MW and 28 MW capacities respectively. The two solar plants rated at 300 MW each are now online.

This is after ACME on December 19, 2024, announced that it had awarded 1,023.05 MW of solar projects in Rajasthan, which marks its continued success in the renewable energy sector.

It secured financing of ₹1,988 crore from Power Finance Corporation (PFC) towards a 300 MW solar-wind hybrid renewable energy project in December 2024. This hybrid project would connect solar generation in Bikaner, Rajasthan, with wind power in Bhuj, Gujarat, and will come on stream by June 2025.

ACME Solar had emerged as the highest bidder for 300 MW of solar power projects under the SECI-ISTS XVIII scheme with a tariff of ₹3.05 per unit. For this initiative, the company plans to use its under-construction ACME Sikar project in Rajasthan, using the existing grid infrastructure in Bikaner-2 for optimized efficiency.