ACME Solar to invest ₹35,000 crore for renewable expansion

ACME Solar Holdings Ltd plans to invest between ₹32,000 crore and ₹35,000 crore by 2027. This investment will help expand their renewable energy capacity from 2.5 gigawatts (GW) to 7 GW. The company aims to focus on round-the-clock renewable energy projects. The investment will be split into two phases. The first phase will involve ₹17,000 crore until 2026. After that, ACME plans to invest an additional ₹15,000-18,000 crore in 2027. Half of the new capacity will come from firm and dispatchable renewable energy projects, which combine solar, wind, and storage options. Funding will mostly come from debt, covering about 75-80% of the costs. The remaining 20-25% will come from equity funding and internal cash. The company needs approximately ₹6,000-7,000 crore in equity to support this growth. ACME Solar recently raised ₹2,900 crore from an initial public offering. They have already secured ₹16,000-17,000 crore in loan sanctions for projects planned by the end of 2026. The company also reported a consolidated net profit of ₹112 crore for the last quarter, more than doubling its profit from the previous year.