ACME Solar to invest ₹14,000cr in renewable projects this year
ACME Solar just announced plans to pump ₹12,000-14,000 crore into expanding its renewable energy projects this fiscal year.
They've already placed orders worth up to ₹7,000 crore—including a major 3.1 GWh battery deal.
CEO Nikhil Dhingra says these will be wrapped up by year-end.
Last year, ACME added over 1,700 MW and now aims to grow by another 2 GW every year for the next two years.
ACME's clean energy game plan
ACME's also rolling out 2-2.5 GWh of new battery capacity soon and has several big projects underway (totaling up to 2 GW).
Until they lock in long-term buyers (PPAs), they'll sell power on the open market—where current prices are looking strong at ₹8.5-9 per unit.
With an average tariff of ₹3.5 per unit for upcoming deals, ACME seems set for some healthy margins as they scale up their clean energy game.