ACME Solar Holdings appointed Nikhil Dhingra as Joint Managing Director for a period of 5 years, effective October 3, 2026. The appointment was approved by the Board on the recommendation of the Nomination and Remuneration Committee.

Dhingra’s existing role as Whole-Time Director is superseded, though he continues to serve as Chief Executive Officer. The term extends until October 2, 2031, subject to shareholder approval. This leadership continuity follows his tenure since February 2023, during which the company executed significant capital raises and expanded its renewable energy footprint.

Leadership profile and strategic impact

Dhingra brings over 21 years of experience across infrastructure, renewable energy, investment banking, consulting, and technology. He holds degrees from NIT Kurukshetra in Electrical Engineering and IIM Bangalore. Prior roles include leadership positions at Oriental Tollways, ICICI Securities, PwC, Infosys, and SAP Labs.

Under his stewardship, the company achieved several key milestones:

• Raised ₹2,900 crore via IPO and ₹2,800 crore via QIP.
• Scaled standalone net worth to ₹4,951.59 crore.
• Secured a credit rating upgrade to AA-/Stable.
• Expanded operational capacity to 2,990 MW and battery storage to ~5 GWh.
• Secured a contracted portfolio of approximately 8.4 GW.

Financial trajectory under current leadership

The company reported an EBITDA CAGR of 52% since FY24, reaching ₹2,265 crore in FY26. This growth reflects the successful integration of capital raised through public offerings into asset expansion. The transition from Whole-Time Director to Joint Managing Director formalizes his executive authority while maintaining his operational role as CEO.

What the numbers show

A correlation exists between the capital raised and asset scaling. The combined ₹5,700 crore raised through IPO and QIP directly supported the expansion of operational capacity to 2,990 MW and the securing of an 8.4 GW order book. The resulting EBITDA of ₹2,265 crore in FY26 demonstrates efficient conversion of invested capital into operating profits, evidenced by the 52% CAGR since FY24.

ACME Solar Holdings commissioned 107.36 MW of discharge capacity and 437.49 MWh of energy storage through new Battery Energy Storage System (BESS) projects in Rajasthan.

This latest commissioning adds to the company's existing renewable portfolio. The new activation brings the total commissioned BESS capacity to 320.67 MW / 1,298.779 MWh, marking a substantial expansion of the company's storage assets.

Cumulative Capacity Status

The newly activated unit represents a significant increase over the previous total of 213.31 MW / 861.289 MWh reported after earlier phases. The following table summarizes the cumulative capacity progression:

Project Details and Partnerships

The project is located in Rajasthan, consistent with the company's earlier BESS installations in the state. The commissioning was achieved on September 30, 2026, with the Commercial Operation Date (COD) for both projects set for October 2, 2026.

The Power Purchase Agreement (PPA) for the previously commissioned Phase-III project was signed with SJVN Limited, securing offtake for generated power. The newly commissioned capacity includes the first phase of an FDRE Project (53.73 MW / 222.969 MWh) located at Neemri village in Chittorgarh, and Phase III of an Assured Peak Power Project (53.63 MW / 214.52 MWh) located at Kelan village in Bikaner. Both projects have 25-year PPAs with a National REIA. Details regarding specific subsidiaries executing these new phases were not disclosed in the immediate filing, though previous phases were executed by wholly owned subsidiaries ACME Sigma Urja Private Limited and ACME Greentech Seventh Private Limited.

The company filed these updates under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.