ACME Solar Holdings Limited has announced the termination of its share purchase agreement (SPA) for the acquisition of AK Renewable Infra Private Limited. The decision comes after mutual discussions between the parties involved.

Key Details

• The original share purchase agreement was executed on September 5, 2025.
• The termination of the agreement took effect on September 13, 2025.
• The decision was made in accordance with the relevant provisions of the SPA.

Official Communication

In a regulatory filing dated September 14, 2025, ACME Solar Holdings Limited informed the stock exchanges about the development. The company stated, "parties have, after discussions, mutually agreed not to proceed with the transaction."

Background

ACME Solar Holdings Limited, formerly known as ACME Solar Holdings Private Limited, is a player in the renewable energy sector. The company had initially planned to acquire AK Renewable Infra Private Limited, likely as part of its growth strategy in the renewable energy market.

Market Implications

While the specific reasons for the termination were not disclosed, such decisions can have various implications for companies in the renewable energy sector. Investors and market analysts will likely be watching closely to see how this development might affect ACME Solar's future growth plans and market position.

The termination of this acquisition deal highlights the dynamic nature of the renewable energy market and the complexities involved in corporate transactions within the sector.

Shareholders and potential investors are advised to keep an eye on further announcements from ACME Solar Holdings Limited regarding its strategic direction and future acquisition plans.

ACME Solar Holdings Limited (ACME Solar) has announced a significant milestone in its renewable energy expansion efforts. The company's wholly-owned subsidiary, ACME Venus Urja Private Limited, has secured project funding of ₹3,892 crore from the State Bank of India (SBI) for a 400 MW solar project.

Project Details

The funding will support the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project in Barmer, Rajasthan. This project represents a significant step forward in ACME Solar's commitment to expanding India's renewable energy infrastructure.

Key aspects of the project include:

Technological Innovation

The FDRE project will incorporate both solar power generation and Battery Energy Storage System (BESS) technology. This combination will enable ACME Solar to meet supply obligations and ensure higher dispatchability as per the Power Purchase Agreement (PPA) conditions.

Significance of the Funding

This funding marks two important milestones:

1. It represents ACME Solar's largest financing from SBI to date.
2. It is SBI's first financing for ACME's FDRE projects, signaling growing confidence in the renewable energy sector.

About ACME Solar Holdings

ACME Solar Holdings is a leading integrated renewable energy player in India. The company's portfolio includes:

• Diverse renewable energy solutions: solar, wind, storage, FDRE, and hybrid solutions
• Operational capacity of 2,890 MW
• In-house EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) divisions

ACME Solar's integrated approach allows for end-to-end development and maintenance of its plants, resulting in time and cost-effective project delivery while maintaining high operating performance.

This latest funding and project announcement underscores ACME Solar's commitment to expanding India's renewable energy capacity and contributing to the country's clean energy goals.