ACME Solar to Incur Capex of Rs 17,000 Cr by 2026 For RE Projects, Targets 10 GW Capacity BY 2030

Renewable energy company ACME Solar Holdings will incur a CAPEX between Rs 15,000 to Rs 17,000 crores for green energy projects by 2026, the firm’s CEO Nikhil Dhingra said on Thursday. The company, which focuses on developing solar and wind power projects in the RE sector, further aims to achieve a target of 10 GW by 2030.

While addressing the media, the company CEO said, “Currently, we have 2.5 GW of operational capacity and in terms of under-construction projects, we are completely ready and will be doing our CAPEX in two phases.” He further said that in the first phase, the firm will expand its capacity to 5 GW by 2027 and for the second phase, they will expand to around 7 GW by 2028.

The firm has fully commissioned a 1,200 MW ISTS (inter-state transmission system) SECI (Solar Energy Corporation of India) Plant in Rajasthan’s Jaisalmer, which has increased their operational portfolio to 2,540 MW.

However for the ISTS plant, energy storage is something which the company is going to plant in upcoming couple of quarters. As of now, the site consists of a solar plant as the contract which they had with SECI was for providing only solar power for 25 years.

In terms of the investment in the storage, Dhingra said, “This plant has a capex of around 4400 crores in terms of the 1200 MW capacity built. Now, if you want to integrate a storage of 1 hour, i.e. around 1200 MW per hour it will cost around Rs 1,000 crores.”

In FY 2025, the company won a 1,900 MW capacity, thereby bringing their total contracted portfolio to 6,970 MW. Additionally, among the power purchase agreements (PPAs) signed by the company, approximately 53% are of under-construction (UC) capacity.

Shedding light on future plans of expansion, the CEO highlighted that they aim to expand into hybrid and FDRE (Firm and Dispatchable Renewable Energy) projects. He further said that the company will continue to have focus on reducing debt and improving financial metrics.

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