ACME Solar Set To Bring Its Maiden Wind Project Soon

ACME Solar, a renewable energy project developer, is transitioning beyond its solar-focused roots. The company is gearing up to commission its first-ever wind energy project, marking a significant step in its diversification journey. In a recent investors’ call, the company’s top management shared insights into its evolving strategy and plans for the future.

Transition to Hybrid and FDRE Projects

ACME Solar’s management highlighted the growing opportunities in hybrid and Firm and Dispatchable Renewable Energy (FDRE) tenders, areas that the company is actively exploring. While solar remains a critical component for its hybrid projects, the firm is ramping up investments in wind energy and energy storage systems.

“Our first wind plant is coming up in a month or so. As we execute FDRE and hybrid projects, we’ve built a team capable of handling large solar bids, smaller wind projects, and significant battery execution efforts,” said Nikhil Dhingra, Chairman and Managing Director of ACME Solar Holdings.

Strategic Shift: Adapting to a Changing Market

Since its inception in 2009 as an EPC company, ACME Solar has predominantly focused on solar energy. However, the shifting dynamics of India’s renewable energy market have prompted the company to expand into other domains.

“We have been 100% solar until about a year and a half ago. As the market moved towards round-the-clock power and FDRE, we were among the first to realign our strategy,” Dhingra added.

This strategic shift is evident in the company’s ambitious plans to commission approximately 4.2 GW of renewable energy projects by 2027.

Upcoming Projects and Execution Timeline

The company expects 900 MW of capacity to come online in the next financial year. ACME Solar aims to complete its entire 4.2 GW portfolio by 2027, often delivering projects ahead of scheduled timelines when connectivity infrastructure is ready.

In recent tenders, ACME Solar has secured significant FDRE projects from leading agencies, including:

• Solar Energy Corporation of India (SECI): 378 MW.
• NHPC: 680 MW of FDRE capacity.
• SJVN: 570 MW of FDRE capacity.
• Solar Plus Battery Project: 350 MW.