About Company

• The Company was originally incorporated as “ACME Solar Holdings Pvt. Ltd” at Haryana, in June 2015. Subsequently, the company was converted into a public limited company in May 2024 and the name of the company was changed to “ACME Solar Holdings Ltd”. The company is a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (“FDRE”) projects.
• ACME Solar Holdings is one of the largest renewable energy independent power producers (“IPP”) in India and among the top 10 renewable energy players in India in terms of operational capacity as of June 30, 2024.
• The ACME Group has a track record of developing, executing and commissioning a total of 2,719 MW (3,668 MWp) of solar power projects in 12 states in India from inception.
• ACME Solar Holdings under construction Contracted Project capacity of 3,250 MW includes 1,500 MW (2,192 MWp) of Solar projects, 150 MW of wind projects, 1,030 MW of hybrid projects and 570 MW of FDRE projects.
• The company’s under construction Awarded Project capacity of 1,730 MW consisting of 600 MW (870 MWp) of solar power projects, 450 MW hybrid power projects and 680 MW of FDRE power projects.
• The company has an integrated in-house approach to executing its renewable projects across the entire life cycle of developing a project, from PPA signing to the project achieving commercial operations within 18 - 24 months and subsequently operating and maintaining the project.
• The majority of the company’s portfolio is contracted through long-term power purchase agreements with central and state government backed entities typically for a period of 25 years. As of June 30, 2024, the weighted average residual period (based on the contracted capacity) under the PPAs for all the Operational Projects was 19.94 years.
• The company has a wide portfolio of projects spread across different renewable energy technologies. The company’s projects are located across 10 Indian states of Rajasthan, Gujarat, Punjab, Madhya Pradesh, Uttar Pradesh, Bihar, Chhattisgarh, Andhra Pradesh, Odisha and Telangana.

Strengths

Competitive Strength 

• Large renewable energy player well positioned to capitalize on strong industry tailwinds in the IPP business;
• End-to-end value chain capabilities and an integrated approach to developing renewable power projects by in-house project development, EPC and O&M teams;
• Expansive portfolio diversified across different renewable energy technologies;
• Long-term stable cash flows based on contracts with central and state government entities;
• Access to diversified sources of funding;
• Design and value engineering leading to higher efficiencies;
• Committed Promoters and senior management team.

 Business Strategies 

• Expand and diversify portfolio to continue to maintain the leadership position;
• Continue to invest in and improve the integrated business model;
• Focus on technology upgrades to improve efficiency and longevity of the projects;
• Continue to diversify the funding sources, optimize the cost of capital and identify partners/investors for future growth.

Company Promoters

Company Financials

ACME Solar Holdings Limited's revenue increased by 7.71% and profit after tax (PAT) rose by 22084.28% between the financial year ending with March 31, 2024 and March 31, 2023.

Objects of the Issue

The Company proposes to utilize the Net Proceeds towards funding the following objects (collectively, the "Objects")

1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Subsidiaries; and
2. General corporate purposes.