**Acme Solar Plans Major Expansion in Renewable Energy Portfolio**
Acme Solar Holdings Ltd is set to significantly expand its renewable energy portfolio, aiming to increase its capacity from 2.5 gigawatts (GW) to 7 GW by 2027. CEO Nikhil Dhingra announced that the company plans to invest ₹32,000-35,000 crore in capital expenditure (capex) over the next few years, with a focus on round-the-clock (RTC) renewable energy projects.
### Investment Breakdown
– **Capex Phases**: The investment will be divided into two phases:
– ₹17,000 crore until 2026
– ₹15,000-18,000 crore in 2027
– **Capacity Goals**:
– Increase operational capacity to 5 GW by 2026 through phase-1 capex
– Reach 7 GW by 2027 through phase-2 capex
### Project Composition
– **Renewable Energy Types**:
– Approximately 50% of the planned 7 GW capacity will consist of firm and dispatchable renewable energy (FDRE) and hybrid projects, essential for providing consistent energy supply.
– The remaining capacity will primarily include traditional solar projects, with standalone wind energy projects making up about 2%.
Dhingra emphasized the importance of hybrid projects, stating, “The hybrid regulatory requirement is to put one-third wind. We will do that, but hybrid is a very small proportion of our portfolio.” The company has around 750 MW of hybrid projects and 2,500 MW of FDRE projects in the pipeline.
### Funding Strategy
– **Funding Sources**:
– 75-80% of the capex will be financed through debt, while 20-25% will come from equity funding, including internal accruals.
– The equity requirement is estimated to be around ₹6,000-7,000 crore.
– **Current Financial Position**: Acme Solar has raised ₹2,900 crore through its initial public offering and has secured loan sanctions of approximately ₹16,000-17,000 crore for its upcoming projects.
Dhingra noted, “We have got funding for everything we need to do till the end of 2026,” indicating that the company is well-prepared for its expansion plans.
### Conclusion
With a robust financial strategy and a clear focus on renewable energy, Acme Solar is poised to make significant strides in the energy sector. How do you think this expansion will impact the renewable energy landscape in India?
**FAQ: What is Acme Solar’s target capacity by 2027?**
Acme Solar aims to increase its renewable energy capacity to 7 GW by 2027.
