ACME Solar to Pump INR 17,000 Cr into Hybrid, FDRE Capacities in CY 2026, Eyes Nuclear Energy Sector
ACME Solar plans to roll out its capacity expansion in two phases starting in April this year.
March 02, 2025. By Abha Rustagi
“We intend to focus our new capacities on the revenue and margin accretive Hybrid and FDRE projects as a critical pivot in our business strategy,” said Nikhil Dhingra, CEO, ACME Solar Holdings, addressing the media.
Dhingra further added that ACME Solar plans to roll out its capacity expansion in two phases starting in April this year. As a broader strategy, ACME Solar aims to treble its current renewable capacity to reach 7 GW by 2028.
As of 9 Months FY25, ACME Solar’s portfolio stood at 6,970 MW, with 2,540 MW already operational and 4,430 MW under construction projects, with 49 percent focus on hybrid and firm dispatchable renewable energy (FDRE) projects. The operational capacity of 2,540 MW is expected to provide ACME Solar an annualised run-rate EBIDTA of upto INR 1800 crore.
The current operational capacity off-take is split between central off-takers 67 percent and state off-takers 33 percent. This is reflective of the growing demand for renewable energy across both the state and central governments, positioning ACME Solar as a key supplier in the country’s energy transition.
Elaborating on the company’s business Dhingra emphasised that, ACME Solar’s growth plan is not only focused on expanding its solar capacity but also diversifying its project mix. Its under-construction projects include a mix of solar, wind, FDRE, and hybrid solutions. These renewal projects have a short capex to revenue cycle ensuring faster accretion of revenue and margin benefits.
The company has invested approximately INR 4,400 crore in its 1200 MW Inter-State Transmission System (ISTS) connected project in Jaisalmer, Rajasthan.
Additionally ACME Solar has reduced its net debt by INR 2,070 crore through IPO proceeds, while also securing INR 16,500 additional debt for 1,700 MW under-construction hybrid and FDRE projects. The company has secured grid connectivity for 4,430 MW of under-construction capacity, and further connectivity of 2,000 MW is available for future bids.
While the company’s core focus remains on solar, wind, and hybrid renewable energy projects, Dhingra has expressed interest in exploring nuclear energy investments, particularly in light of the recent government push to involve private sector participation in the nuclear power sector, with India’s goal of generating 100 GW of nuclear power by 2047.
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