News ArticleACME Solar Achieves INR 874 Crore EBITDA and INR 269 Crore PAT in Q2 FY27 with 2.1 GWh BESS Commissioned
Company upgrades credit rating to CRISIL AA -/Positive and secures INR 9,100 Cr project financing amid portfolio growth
ACME Solar Holdings Limited announced robust Q2 FY27 consolidated results with EBITDA rising 63.6% year-on-year to INR 874 crore and PAT surging 133.5% year-on-year to INR 269 crore. The company commissioned 2.1 GWh battery energy storage systems (BESS) in the quarter, achieving a total of 5.2 GWh, the second largest in India. ACME also upgraded its credit rating to CRISIL AA -/Positive and secured INR 9,100 crore in project debt financing.
ACME Solar Holdings Limited
General / Other
ACME Solar Holdings Limited reported strong consolidated financial results for Q2 FY27 driven by expanded renewable capacity and battery energy storage system (BESS) commissioning, recording EBITDA of INR 874 crore and PAT of INR 269 crore, up 63.6% and 133.5% year-on-year respectively.
The company commissioned approximately 2.1 GWh of BESS capacity in the current quarter, increasing total commissioned BESS to about 5.2 GWh—the second largest BESS installation in India.
ACME signed 430 MW of firm duration real energy (FDRE) power purchase agreements (PPAs) during the quarter, taking its total under-construction contracted PPA capacity to 4,310 MW with around 17 GWh BESS installations.
Short-term BESS contracts generated over INR 1,600 crore in locked-in revenue for the fiscal year 2027, with an additional INR 1,500 crore locked in for fiscal year 2028.
The company achieved an upgrade in its credit rating from CRISIL AA -/Stable to CRISIL AA -/Positive and secured approximately INR 9,100 crore in debt for its projects, including financing from JPMorgan Chase Bank and Indian financial institutions.
Operationally, ACME's renewable energy generation increased by 19.6% to 1,840 million units in Q2 FY27, with plant and grid availability exceeding 99%. Capacity utilization factor rose from 24.1% to 27.8% compared to the prior year.
Highlights
- 430 MW FDRE PPAs signed in Q2 FY27, total under-construction PPAs at 4,310 MW with ~17 GWh BESS installations.
- Commissioned 2.1 GWh BESS in Q2 FY27, cumulatively 5.2 GWh commissioned—2nd largest in India.
- EBITDA reached INR 874 crore, up 63.6% year-on-year.
- PAT doubled to INR 269 crore, up 133.5% year-on-year.
- Credit rating upgraded to CRISIL AA -/Positive from CRISIL AA -/Stable.
- Secured INR 9,100 crore in debt financing from major banks and financial institutions.
Key Data Snapshot
What happened
- ACME Solar Holdings Limited reported Q2 FY27 consolidated EBITDA of INR 874 crore, a 63.6% increase year-on-year.
- Profit after tax (PAT) surged 133.5% year-on-year to INR 269 crore in Q2 FY27.
- The company commissioned approximately 2.1 GWh of battery energy storage systems during the quarter, taking total commissioned capacity to about 5.2 GWh.
- ACME signed 430 MW of firm PPAs in the quarter, bringing total under-construction PPA capacity to 4,310 MW with approximately 17 GWh BESS installations.
Key details
- Short-term BESS contracts secured over INR 1,600 crore revenue lock-in for FY27 and INR 1,500 crore for FY28.
- Credit rating upgraded to CRISIL AA -/Positive from CRISIL AA -/Stable in Q2 FY27.
- Debt financing of approximately INR 9,100 crore secured from JPMorgan Chase Bank and Indian financial institutions including IIFCL, REC, PFC, and IREDA.
- Capacity utilization factor improved to 27.8% in Q2 FY27 from 24.1% in Q2 FY26.
Operational performance
- Renewable energy generation increased 19.6% year-on-year to 1,840 million units in Q2 FY27.
- Plant and grid availability in Q2 FY27 stood at 99.3% and 99.2%, respectively.
- Commissioned BESS and solar projects enabled partial commissioning of approximately 1.9 GW projects.
Funding and capital details
- Average cost of debt for fully operational projects is 8.4%.
- ACME Solar Holdings has contracted approximately 19 GWh BESS capacity with suppliers such as CATL and Hithium.
Strategic context
- ACME revised upward its FY27 BESS commissioning target from 10 GWh to 12+ GWh.
- The company raised its 2030 renewable energy generation capacity target from 10 GW to 15 GW, aiming to leverage various renewable energy opportunities including green hydrogen and data centers.
Highlights
- 430 MW FDRE PPAs signed in Q2 FY27, total under-construction PPAs at 4,310 MW with ~17 GWh BESS installations.
- Commissioned 2.1 GWh BESS in Q2 FY27, cumulatively 5.2 GWh commissioned—2nd largest in India.
- EBITDA reached INR 874 crore, up 63.6% year-on-year.
- PAT doubled to INR 269 crore, up 133.5% year-on-year.
- Credit rating upgraded to CRISIL AA -/Positive from CRISIL AA -/Stable.
- Secured INR 9,100 crore in debt financing from major banks and financial institutions.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015
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