ACME’s $2.7 billion India solar push seeks to draw foreign cash
- IICCI_Communications
- Sep 6, 2021
- 2 min read
India’s ACME Solar Holdings Pvt. is seeking partners to help fund a plan to more than triple its solar generation capacity.
The company, which in 2018 aborted a public listing because of stock market turbulence and uncertainty over the nation’s energy policy, plans to expand its solar capacity to 10 gigawatts over the next five years at a cost of 200 billion rupees ($2.7 billion), the company’s founder and chairman Manoj K. Upadhyay said in an interview.
ACME currently has 2.9 gigawatts of operating capacity with a further 2 gigawatts already funded and nearing completion, he said
“It’s a capital-intensive business, so we will try to have as many partners as we can,” Upadhyay said. “This will help us unlock capital for our new projects and prove what we’re building has value.”
The firm is counting on India’s growing appeal as a renewable power market, with the world’s third-biggest emitter seeking to roll out a record amount of solar and wind over the next decade and move away from fossil fuels. It is seeking to raise about a quarter of the total investment by tapping global investors from private equity firms to pension funds and oil giants that are pouring billions of dollars into the nation’s renewable companies.
ACME has previously locked-in investment deals with Brookfield Renewable Partners LP for a 450-megawatt project and with Norway’s Scatec ASA for a 900-megawatt plant. It will fund about three-quarters of the latest expansion plan through loans and sell stakes or some projects outright for the remainder. It is also in talks with potential investors to sell a stake in the solar holding company, which is owned entirely by the founders, and a decision may come as early as this year, Upadhyay said.
Hydrogen Plans
The ACME Group is also moving beyond pure solar generation to tap an anticipated boom in hydrogen demand. It plans to January start construction on the first, $800 million phases of a green hydrogen-to-green ammonia plant in Oman that is anticipated to have a total cost of $3.5 billion when finished in 2024 and be able to produce 2,400 tons a day of green ammonia for export.
The company chose Oman for its proximity to export markets and high solar irradiation, features that have already seen the oil-dependent middle-eastern nation plan a mega green hydrogen project powered by 25 gigawatts of renewable electricity. ACME’s plant will build upon the company’s experience with a pilot green hydrogen and green ammonia plant in India’s Rajasthan state that will start production this month, Upadhyay said.
The Indian firm has signed a term sheet with the buyer of its Omani product and expects to sign a final contract in about a month, Upadhyay said, declining to name the other party.
Credit: Bloomberg
This is a fascinating look at how India’s renewable energy sector is expanding! 🌞 Companies like ACME Solar Holdings are planning major investments to grow solar capacity significantly — aiming to more than triple output to around 10 GW over the next few years with a ₹20,000 crore (about $2.7 billion) expansion plan. To help fund this, they’re seeking foreign partners and investors from around the world, including private equity and pension funds, to unlock capital and support growth in India’s rapidly evolving clean energy market.
It’s also interesting to see how organisational strategies impact success — for example, McDonald’s HR Practices show how training, inclusivity, and respect help employees thrive and achieve long-term goals.
A very insightful article on ACME’s ambitious $2.7 billion solar expansion and India’s growing appeal as a renewable energy hub. The plan to increase capacity to 10 GW while attracting global investors really shows how rapidly the sector is evolving and how capital-intensive these projects are . The way such complex developments are communicated also reflects Argyle's communication cycle, where clarity and understanding are essential when discussing large-scale global investments. Thanks for sharing such valuable insights into the future of clean energy!
This was a very enjoyable post. The calm and reflective tone made it easy to connect with the story and its message. I appreciated how the author highlighted the significance of ordinary moments in everyday life. As a student, I sometimes take breaks from studying to read thoughtful blogs like this. During busy academic periods, learners often look for reliable Assignment Help Manchester services to better understand complex topics. Reading reflective content like this encourages both personal growth and academic improvement, showing that learning happens through observation, reflection, and careful guidance.
This was a well-written and meaningful piece. I really liked the way the author presented ordinary situations with thoughtful insights and reflections. Writing like this shows how powerful storytelling can be when it focuses on genuine experiences. As a psychology student, I often read blogs like this during study breaks because they inspire deeper thinking about behavior and emotions. Sometimes learners also search for Help with Psychology Assignments when they need support with complex research topics. Posts like this remind readers that learning is not limited to classrooms but can also come from everyday observations.
Trải nghiệm cá cược mọi lúc, mọi nơi cùng 32Win bằng cách tải app 32win ngay hôm nay. Ứng dụng được tối ưu hóa cho cả iOS và Android, mang đến tốc độ truy cập nhanh, giao diện thân thiện cùng hệ thống bảo mật tiên tiến. Với 32win football, bạn có thể theo dõi trực tiếp các trận đấu, đặt cược tức thì và nhận thông báo ưu đãi mới nhất chỉ bằng một chạm. Đây là lựa chọn hoàn hảo cho bet thủ hiện đại yêu thích sự tiện lợi và an toàn.