ACME Solar’s Gujarat Wind Project Reaches 96 MW Capacity

Synopsis: In its sixteenth commissioning update since October 2025, ACME Eco Clean Energy Private Limited has commissioned another 4 MW of its 100 MW Gujarat wind project, bringing the total operational tally to 96 MW; formal certification from GEDA and PGVCL is pending, and the final 4 MW will close out the project.

Shares of one of India’s largest renewable energy independent power producers came into focus after its subsidiary filed a commissioning update today, disclosing that an additional 4 MW of its ongoing 100 MW wind project in Gujarat had been energised.

With a market capitalisation of Rs. 16,467.28 crore, the shares of ACME Solar Holdings Limited were trading at Rs. 271.75 per share, down 0.53 percent from its previous closing price of Rs. 273.20 apiece. It is trading at a P/E of 34.37.

ACME Eco Clean Energy Private Limited, a wholly-owned subsidiary, commissioned 4 MW at Village Titoda, Taluka Sayla, District Surendranagar in Gujarat. The commissioning was witnessed by officials of the Gujarat Energy Development Agency (GEDA) and Paschim Gujarat Vij Company Limited (PGVCL); the formal certificate of commissioning is expected to be issued shortly. With this, the subsidiary’s operational tally on this 100 MW wind project stands at 96 MW. The remaining 4 MW is yet to be energised.

This is the sixteenth such update the company has filed in a sequence that began with the first commissioning intimation on October 17, 2025. The incremental nature of commissioning typically in 4 MW to 16 MW tranches is consistent with phased wind project energisation, where each turbine cluster goes through grid synchronisation and DISCom/state agency inspection before commercial operation is declared. The extended commissioning timeline across six months for a 100 MW project, while not unusual for wind assets, does reflect the logistical complexity of rural Gujarat sites and multi-agency coordination requirements.

Business Overview

Incorporated in 2015, ACME Solar Holdings is a renewable energy IPP with a diversified portfolio spanning solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects across 10 Indian states. For Q3 FY26, the company reported consolidated revenue of Rs. 497 crore and net profit of Rs. 114 crore. For FY25, full-year net profit was Rs. 251 crore on revenue of Rs. 1,405 crore. Borrowings have risen sharply to Rs. 12,998 crore as of September 2025, against a total contracted portfolio of over 8,000 MW, reflecting the capital intensity of its ongoing build-out.

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