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ACME Solar to Invest INR 17,000 Cr in Hybrid & FDRE, Eyes Nuclear Energy Sector

ACME Solar Holdings has announced an investment of INR 17,000 crore to expand its renewable energy capacity to 5 GW by 2026, with a strong focus on Hybrid and Firm Dispatchable Renewable Energy (FDRE) projects. The expansion will be rolled out in two phases starting April 2025.

Key Highlights:

• Capacity Growth: ACME plans to triple its renewable portfolio to 7 GW by 2028.
• Current Portfolio: The company has a total portfolio of 6,970 MW, with 2,540 MW operational and 4,430 MW under construction.
• Revenue & Financials:
  • The operational capacity (2,540 MW) is expected to generate an EBITDA of up to INR 1,800 crore annually.
  • ACME has reduced net debt by INR 2,070 crore through IPO proceeds and secured INR 16,500 crore in debt for 1,700 MW of hybrid and FDRE projects.
• Key Projects & Investments:
  • ISTS-connected project in Jaisalmer (Rajasthan) – 1,200 MW with INR 4,400 crore investment.
  • Grid connectivity secured for 4,430 MW under construction, with an additional 2,000 MW available for future bids.

CEO's Vision on Future Investments

While ACME remains focused on solar, wind, and hybrid projects, CEO Nikhil Dhingra has expressed interest in nuclear energy investments, following the Indian government's push to involve the private sector in nuclear power. India targets 100 GW of nuclear power capacity by 2047, presenting new opportunities for private participation.