A leading solar power developer has achieved a significant milestone. The company has successfully secured a substantial project that will grow its growing presence in the green energy market.
This recent contract represents an expansion of the organisation’s portfolio. This demonstrates its commitment to sustainable infrastructure development. The project not only enhances the company’s total operational capacity but also signals its continued growth trajectory in the renewable energy landscape.
Share Price Movement
The share price of Acme Solar Holdings Limited went up by 4.4 percent to Rs. 279.95 per share on Thursday, an increase from its previous close of Rs. 268.15 per share. The market capitalisation now stands at approximately Rs. 16,434 crore as of December 12, 2024.
What Happened
Acme Solar Holdings Limited secured a 250 MW firm & dispatchable renewable energy (FDRE) project in an NHPC e-auction at a tariff of INR 4.56 per unit. The project includes a green-shoe option to potentially expand to 500 MW. This achievement brings Acme Solar’s total capacity to 6,970 MW, with a long-term power supply commitment of 930 MW to NHPC. The project aims to deliver peak power with a mix of solar, wind, and battery technologies and is expected to be completed by FY 2027-28.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Acme Solar Holdings consolidated revenue from operations has decreased by 19.5 percent YOY from Rs. 323 crore in Q2 FY24 to Rs. 260 crore in Q2 FY25 and decreased by 16.1 percent QoQ from Rs. 310 crore in Q4 FY24.
The company’s consolidated net profit has decreased by 61.5 percent, from Rs. 39 crore in Q2 FY24 to Rs. 15 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has increased by 1,400 percent QoQ from Rs. 1 crore.
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Market Outlook
India’s renewable energy sector is showing exceptional growth momentum. The government targets 500 GW of non-fossil electricity by 2030, with significant progress shown by 13.5 GW capacity addition in 2023.
The sector is receiving substantial financial support, with Rs. 8,500 crore allocated for solar infrastructure and Rs. 17,490 crore for green hydrogen initiatives. With electricity demand expected to rise 8% in 2024 and renewable capacity projected to reach 170 GW by March 2025, the industry demonstrates strong growth potential.
Shareholding Pattern
As of the November 2024 shareholding pattern, Acme Solar Holdings Limited is primarily held by the promotors at 83.41 percent, foreign institutional investors hold 6.69 percent, and the public with 4.08 percent.
About Company
ACME Solar Holdings Limited, one of India’s largest independent power producers, plays a pivotal role in the nation’s renewable energy sector. With a substantial 3,668 MWp of solar power capacity as of March 2024, ACME Solar ranks among the top ten renewable energy companies in the country. Headquartered in India, the company operates across 12 states, focusing on utility-scale projects that support both governmental and corporate sustainability initiatives.
The company has diversified its renewable energy portfolio to include wind, hybrid solar-wind systems, and battery storage. By integrating advanced hybrid technology, ACME maximises energy efficiency and reliability, advancing the country’s transition toward sustainable power. Its key projects include 3,440 MW of solar across 11 states and a 150 MW wind project.
Under Chairman Manoj Kumar Upadhyay’s leadership, ACME Solar remains committed to sustainable practices, receiving numerous awards for innovation and community empowerment. The company’s vision aligns closely with global climate goals.
Written By Fazal Ul Vahab C H
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