Acme Solar plans to spend up to Rs 20k crore on capex: CEO

Mumbai: ACME Solar Holdings plans to invest ₹15,000-20,000 crore in expanding its renewable energy business, with a focus on battery energy storage to meet rising demand for reliable, round-the-clock renewable power, chief executive officer Nikhil Dhingra told ET.

The company expects the contribution of energy storage to its business to increase from around 25% now as it expands its battery portfolio, Dhingra said, adding that ACME aims to deploy about 10 GWh of battery capacity this year. "Storage will be a primary focus," Dhingra said.

ACME also has about 1.5 GW of firm and dispatchable renewable energy (FDRE) capacity scheduled to come up in FY27. These projects will combine solar generation with battery storage, the company said. It has already signed power purchase agreements (PPAs) for about 4,000 MW of FDRE and hybrid projects, while its near-term pipeline stands at more than 5,080 MW.


Dhingra said demand for round-the-clock renewable power is expected to remain strong, particularly from data centres, green ammonia, industrial electrification and other large consumption centres.

ACME is also preparing to enter the data centre power market as a distinct business segment. The company, which traditionally focused on supplying power to government customers, is building dedicated commercial and technical teams to target data centre operators directly.

It also expects to benefit indirectly as states increase procurement of round-the-clock renewable power to meet the needs of data centres.