Synopsis: A flurry of commissioning disclosures: 4 MW of additional wind capacity in Gujarat and over 190 MW of BESS additions in Rajasthan within 48 hours drove ACME Solar Holdings up 6.40 percent as markets responded to the company’s accelerating operational ramp-up across its renewable energy portfolio.
Shares of one of India’s top-ten renewable energy independent power producers surged sharply after the company disclosed multiple capacity commissioning milestones within a 48-hour window, spanning wind power in Gujarat and battery energy storage in Rajasthan.
With a market capitalisation of Rs. 16,237 crore, the shares of ACME Solar Holdings Ltd were trading at Rs. 268 per share, up 5.6 percent from its previous closing price of Rs. 253.85 apiece. It is trading at a P/E of 32.5 against an Industry P/E of 30.7. The company has a ROE of 7.57 percent and an ROCE of 8.42
Gujarat Wind Project
ACME Solar’s subsidiary, ACME Eco Clean Energy, commissioned an additional 4 MW of wind capacity at Surendranagar district in Gujarat, taking the total commissioned capacity at the project to 92 MW out of a planned 100 MW.
The milestone has been verified by officials from the Gujarat Energy Developm ent Agency and Paschim Gujarat Vij Company, with formal certification pending. With only 8 MW remaining, full operationalisation of the 100 MW Gujarat wind project is close and the formal certification process, once complete, would trigger commercial offtake under the applicable PPA.
BESS Momentum in Rajasthan
The Gujarat wind update followed two significant BESS commissioning disclosures from March 24. The company commissioned the second phase of 35.7 MW of battery energy storage capacity at its Jaimalsar, Bikaner project in Rajasthan, bringing that project’s total commissioned BESS capacity to 95.7 MW out of 250 MW, leaving a substantial pipeline still to be operationalised.
On the same day, ACME Solar also operationalised an additional 155 MW of BESS in Rajasthan, taking its overall commissioned BESS capacity to approximately 298 MW; part of a larger BESS pipeline that exceeds 800 MW.
Business Overview
ACME Solar Holdings Ltd is an integrated renewable energy player operating across solar, wind, hybrid, FDRE, and storage technologies. The company has a total portfolio of 8,071 MW, operational contracted capacity of 2,978 MW, approximately 1.0 GWh of commissioned BESS capacity, and 5,093 MW under construction. For Q3 FY26, consolidated net profit rose 1.5 percent to Rs. 113.71 crore, while net sales jumped 42.3 percent to Rs. 496.62 crore over Q3 FY25
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