ACME Solar Holdings , a leading player in India's renewable energy sector, has reported a stellar performance for the second quarter of fiscal year 2026, while simultaneously announcing ambitious targets for 2030. The company's financial results and strategic plans underscore its commitment to expanding its footprint in the renewable energy landscape.

Financial Highlights

ACME Solar's Q2 FY26 results showcase remarkable growth across key financial metrics:

The company's profit after tax (PAT) saw an extraordinary surge of 652.10% year-on-year, reaching ₹115.00 crore. This substantial increase was accompanied by a robust growth in total revenue, which more than doubled to ₹601.00 crore. The EBITDA also showed significant improvement, rising by 108.30% to ₹534.00 crore.

Operational Performance

ACME Solar's operational metrics also demonstrated strong growth:

• Power generation increased by 133.80% to 1,539 million units in Q2 FY26.
• Capacity utilization factor improved from 22.20% in Q2 FY25 to 24.10% in Q2 FY26.
• Plant availability and grid availability remained high at 99.50% and 99.40% respectively.

Strategic Expansion and Future Targets

ACME Solar has set ambitious targets for 2030, aiming to achieve:

• 10 GW of renewable energy capacity
• 15 GWh of Battery Energy Storage Systems (BESS)

Progress towards these goals includes:

• Partial commissioning of a 28 MW wind project in Gujarat, bringing the total commissioned capacity in H1 FY26 to 378 MW.
• Winning bids for 720 MW/2,460 MWh of solar and energy storage projects, and 550 MWh of standalone BESS.
• Signing Power Purchase Agreements (PPAs) for 5,180 MW of capacity.
• Securing orders for 5.1 GWh in BESS, with the first phase of delivery scheduled for December 2025.

Financial Strategy and Credit Rating

The company's financial strategy focuses on securing funding and optimizing costs:

• Debt tied up for approximately ₹7,050.00 crore for 680 MW of Firm and Dispatchable Renewable Energy (FDRE) projects.
• Refinancing of ₹1,100.00 crore at 8.40% p.a. for a 300 MW operational project.
• Interest rate reductions on existing loans, including a 75 bps reduction on ₹2,080.00 crore debt for 600 MW of SECI ISTS projects.

ACME Solar's credit rating has been upgraded to AA-/Stable by both CRISIL and ICRA, reflecting the company's strong financial position and growth prospects.

Management Commentary

Manoj Kumar Upadhyay, Chairperson & MD of ACME Solar Holdings Ltd, commented on the results: "Our quarterly performance underscores the continued strength of our renewable portfolio and our operational discipline. With higher generation and improved efficiency, we delivered resilient financial performance - achieving more than 100% growth in EBITDA on y-o-y basis."

Upadhyay also highlighted the company's focus on BESS technology, stating, "In October 2025, we successfully installed a 10 MWh Battery Energy Storage System (BESS) on a pilot basis in Rajasthan. Looking ahead, phased delivery of the 5.1 GWh BESS order is expected to commence in December, with staged commissioning from Q4 FY26 onwards."

As ACME Solar continues to expand its renewable energy portfolio and venture into energy storage solutions, the company appears well-positioned to capitalize on the growing demand for clean energy in India. With its strong financial performance, strategic expansion plans, and focus on technological advancements, ACME Solar is poised to play a significant role in India's transition to a more sustainable energy future.

ACME Solar Holdings Limited, a leading player in India's renewable energy sector, has reported robust financial results for the second quarter of fiscal year 2026, showcasing significant growth across key metrics.

Financial Highlights

The company's consolidated financial performance for Q2 FY26 demonstrates substantial year-over-year improvements:

The company's impressive growth in revenue and profitability can be attributed to increased capacity addition and higher Capacity Utilization Factor (CUF).

Operational Performance

ACME Solar's operational metrics also showed marked improvement:

• Generated 1,539 million units in Q2 FY26, up 133.80% from Q2 FY25
• Capacity Utilization Factor increased from 22.20% in Q2 FY25 to 24.10% in Q2 FY26
• Plant availability and grid availability stood at 99.50% and 99.40% respectively for Q2 FY26

Business Expansion and Achievements

The company continued to expand its portfolio and secure new projects:

• Partially commissioned 28 MW out of a 100 MW wind project in Gujarat
• Won 720 MW/2,460 MWh of Solar + ESS and FDRE capacity, along with 550 MWh standalone BESS capacity
• Signed PPAs for 50 MW/220 MWh, including its first PPA with private discom Tata Power Company Limited
• Ordered an additional 2 GWh BESS from leading global energy system suppliers, bringing total BESS ordered to 5.1 GWh
• Cumulative H1 FY26 commissioned capacity reached 378 MW

Financial Strength and Credit Rating

ACME Solar's financial position has been further solidified:

• Secured debt of approximately ₹7,050.00 crore for 680 MW FDRE projects
• Achieved refinancing of ₹1,100.00 crore at an interest rate of 8.40% p.a. for a 300 MW operational project
• Received credit rating upgrades to AA-/Stable from both CRISIL and ICRA
• Declared an interim dividend of ₹0.20 per share totaling ₹121.02 million for FY25

Management Commentary

Mr. Manoj Kumar Upadhyay, Chairperson & MD of ACME Solar Holdings Ltd, commented on the quarterly performance: "Our quarterly performance underscores the continued strength of our renewable portfolio and our operational discipline. With higher generation and improved efficiency, we delivered resilient financial performance - achieving more than 100% growth in EBITDA on y-o-y basis."

He further added, "Looking ahead, phased delivery of the 5.1 GWh BESS order is expected to commence in December, with staged commissioning from Q4 FY26 onwards. Our continued focus on timely project execution, operational excellence, and disciplined capital allocation - combined with ongoing efforts to optimize financing costs – shall keep on strengthening the balance sheet."

ACME Solar's strong Q2 FY26 results reflect the company's growing prominence in India's renewable energy sector. With its expanding portfolio, improved operational efficiency, and strategic financial management, the company appears well-positioned for continued growth in the evolving clean energy landscape.