News ArticleACME Solar Holdings Signs 430 MW FDRE PPAs and Commissions 5.2 GWh Battery Storage in Q2 FY2027
Company secures INR 3,100+ crore revenue lock-in for BESS capacity and revises FY27 BESS commissioning target to over 12 GWh
ACME Solar Holdings Limited announced significant operational advancements for Q2 FY2027, including signing 430 MW of Firm Delivery Renewable Energy (FDRE) power purchase agreements (PPAs), commissioning 2.1 GWh battery energy storage system (BESS) capacity in the quarter, and upgrading its CRISIL credit rating to AA-/Positive from AA-/Stable. The company has locked in over INR 1,600 crore revenue for FY27 BESS capacity and INR 1,500 crore for FY28, with an upward revision of its BESS commissioning target to 12+ GWh for FY27 and a renewable energy capacity goal increased to 15 GW by 2030.
ACME Solar Holdings Limited
Investor Presentation
ACME Solar Holdings Limited reported significant operational progress for the quarter ended September 30, 2026, including signing 430 MW of FDRE power purchase agreements, commissioning a total of approximately 5.2 GWh of battery energy storage systems, and raising its CRISIL rating to AA-/Positive.
During Q2 FY2027, ACME Solar contracted 430 MW of FDRE with SECI and REMCL, increasing its PPA-signed capacity to 4,310 MW out of 5,380 MW under construction capacity.
The company commissioned around 2.1 GWh of BESS in the quarter, raising the total commissioned BESS capacity to approximately 5.2 GWh, making it the second largest BESS capacity in India.
Partial commissioning was achieved on approximately 1.9 GW of solar and BESS projects, including 133 MW solar capacity from its 300 MW hybrid project with NTPC.
ACME secured short-term BESS contracts, locking in over INR 1,600 crore revenue for FY27 BESS capacity and more than INR 1,500 crore for FY28, with further revenues expected from future bids.
The company's CRISIL credit rating was upgraded to AA-/Positive from AA-/Stable, reflecting improved creditworthiness and operational progress.
Highlights
- Signed 430 MW FDRE PPAs with SECI and REMCL, reaching 4,310 MW signed capacity.
- Commissioned approximately 2.1 GWh BESS in Q2, total 5.2 GWh commissioned capacity achieved.
- Partial commissioning of around 1.9 GW solar and BESS projects, including 133 MW solar hybrid project with NTPC.
- Locked in INR 1,600+ crore and INR 1,500+ crore revenues from short-term BESS contracts for FY27 and FY28, respectively.
- CRISIL rating upgraded to AA-/Positive from AA-/Stable.
- Revised BESS commissioning FY27 target upward from 10 GWh to over 12 GWh and increased 2030 renewable energy target to 15 GW from 10 GW.
Key Data Snapshot
Key details
- Signed FDRE PPAs totaling 430 MW during Q2 FY2027 with SECI and REMCL, increasing contracted PPA capacity to 4,310 MW.
- Commissioned 2.1 GWh of BESS capacity in Q2 FY27; cumulative BESS commissioning now approximately 5.24 GWh, second largest in India.
- Partial commissioning enabled for approximately 1.9 GW of projects combining solar and BESS assets.
- Completed commissioning of 133 MW solar capacity under a 300 MW hybrid project contracted with NTPC.
- Secured short-term contracts guaranteeing INR 1,600+ crore revenue for FY27 and INR 1,500+ crore for FY28 BESS capacity sales.
- Contracted approximately 19 GWh of BESS supply with reputed suppliers including CATL, Hithium, and others.
Financial performance
- Total revenue for Q2 FY27 was INR 1,007 crore, a 67.5% increase compared to INR 601 crore in Q2 FY26.
- EBITDA for Q2 FY27 rose to INR 874 crore from INR 534 crore in Q2 FY26, up 63.6%.
- Profit after tax (PAT) grew 133.5% year-on-year to INR 269 crore in Q2 FY27 from INR 115 crore in Q2 FY26.
- ACME Solar Holdings upgraded from CRISIL AA-/Stable to CRISIL AA-/Positive, indicating improved credit outlook.
- Revenue includes contributions from both solar power generation and BESS operations.
Strategic context
- ACME Solar revised its BESS commissioning target upwards for FY27 from 10 GWh to over 12 GWh.
- The company increased its 2030 renewable energy target from 10 GW to 15 GW generation capacity.
- Growth strategy includes leveraging FDRE, assured peak power, contracts for difference (CfD), renewable power integration for green hydrogen, molecules production, and data center energy supply.
- BESS and solar project partial commissioning supports scaling renewable energy capacity and operational milestones.
Highlights
- Signed 430 MW FDRE PPAs with SECI and REMCL, reaching 4,310 MW signed capacity.
- Commissioned approximately 2.1 GWh BESS in Q2, total 5.2 GWh commissioned capacity achieved.
- Partial commissioning of around 1.9 GW solar and BESS projects, including 133 MW solar hybrid project with NTPC.
- Locked in INR 1,600+ crore and INR 1,500+ crore revenues from short-term BESS contracts for FY27 and FY28, respectively.
- CRISIL rating upgraded to AA-/Positive from AA-/Stable.
- Revised BESS commissioning FY27 target upward from 10 GWh to over 12 GWh and increased 2030 renewable energy target to 15 GW from 10 GW.
Disclosures
- Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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