ACME Solar Holdings has successfully commissioned an additional 12 MW of wind power capacity at its Surendranagar project in Gujarat, marking another milestone in the company's renewable energy expansion. The commissioning brings the facility's total operational capacity to 68 MW out of a planned 100 MW, demonstrating steady progress in the project's phased development approach.

Project Development and Certification

The commissioning was witnessed by officials from Gujarat Energy Development Agency (GEDA) and Paschim Gujarat Vij Company Limited (PGVCL), with the development recorded in the commissioning minutes of meeting. The formal commissioning certificate is expected to be issued shortly. The project is being developed in phases through ACME's subsidiary, ACME Eco Clean Energy Pvt Ltd, ensuring systematic capacity addition and operational efficiency.

Technical Specifications and Construction

The wind farm utilizes SANY's 4 MW turbines and was constructed using the company's in-house engineering, procurement and construction capabilities. Power Finance Corporation provided financing for the project, supporting the development of this renewable energy infrastructure. The integrated approach to project development demonstrates ACME Solar's comprehensive capabilities across the renewable energy value chain.

Revenue Arrangements and Market Position

Electricity generated from the facility will be sold under a 25-year power purchase agreement with Gujarat Urja Vikas Nigam Limited, ensuring long-term revenue stability for the project. This extended agreement provides predictable cash flows and supports the project's financial viability over its operational lifecycle.

ACME Solar currently operates 2,958 MW of renewable energy capacity with an additional 4,562 MW under construction. The company's portfolio includes solar, wind, energy storage, firm and dispatchable renewable energy, and hybrid solutions. It also operates approximately 15 gigawatt-hours of battery energy storage systems.

Financial Performance

The company reported strong financial results for Q2FY26, with consolidated EBITDA reaching ₹534.00 crore, representing a significant 108% year-on-year growth. Profit after tax (PAT) showed even more impressive growth at ₹115.00 crore, marking a substantial 652% year-on-year increase.

Company Operations and Market Performance

The Gurugram-based company manages end-to-end project development and operations through its integrated EPC and operations and maintenance divisions, positioning it as a major player in India's renewable energy sector. This comprehensive approach enables ACME Solar to maintain control over project quality and operational performance across its portfolio.

Shares of ACME Solar Holdings closed at ₹213.85, down by ₹2.70 or 1.25% on the NSE, reflecting normal market fluctuations despite the positive operational development and strong financial performance.

ACME Solar Holdings Limited has announced the resignation of its Chief Commercial Officer - Renewable Business, Mr. Rahula Kumar Kashyapa, who will be relieved from his duties effective from the close of business hours on January 20, 2026. The company informed stock exchanges BSE and NSE about this senior management personnel change through a regulatory filing under Regulation 30 of SEBI Listing Regulations.

Resignation Details

The resignation was formally submitted on December 7, 2025, with Kashyapa citing his intention to explore opportunities outside the organization. In his resignation letter addressed to the Chief Executive Officer, he expressed his willingness to transition responsibilities during his notice period and wished the company well for future endeavors.

Company's Response

ACME Solar Holdings acknowledged Kashyapa's contributions in its regulatory filing, stating that the company appreciates his significant contribution in advancing strategic priorities and strengthening operations in his domain. The announcement was signed by Company Secretary and Compliance Officer Rajesh Sodhi on January 15, 2026.

Regulatory Compliance

The disclosure was made in compliance with Regulation 30 read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring full regulatory compliance for the senior management personnel change.

The resignation represents a change in the senior management team of the renewable energy company, with Kashyapa having served as Chief Commercial Officer for the company's renewable business segment.