ACME Solar eyes ₹60-70 crore annual revenue from Andhra Pradesh BESS projects
Published : Jul 01, 2025, 12:45 PM IST
Synopsis
Nikhil Dhingra, CEO of ACME Solar, stated that the company has a total net debt of ₹7,500 crore, all of which is tied to individual projects, with no debt at the holding company level. The debt is split between operational and under-construction assets.
Gurugram-based renewable energy firm ACME Solar Holdings expects to earn ₹60-70 crore in annual revenue and achieve a return on capital employed (ROCE) of 14-15% from its BESS projects in Andhra Pradesh.
The company has secured two battery energy storage system (BESS) contracts under NHPC’s 275 MW/550 MWh bid. The first is the 50 MW/100 MWh Kuppam project, with a monthly tariff of ₹2.1 lakh per MW. The second is the larger Ghani project with a capacity of 225 MW/450 MWh and a tariff of ₹2.22 lakh per MW per month.
ACME Solar will also receive viability gap funding of ₹27 lakh per MWh or 30% of the total project cost—whichever is lower.
According to Nikhil Dhingra, CEO of ACME Solar, this is a customer-driven bid, making the process faster and less risky. Since the projects will be developed on the customer’s premises, there are no land acquisition or transmission line issues. This reduces execution challenges and shortens the timeline.
Read Here | ACME Solar signs power purchase agreement with SECI for 300MW solar project in Rajasthan
The company expects to invest about ₹500 crore in total, complete the project within 18 months, and sign the power purchase agreement (PPA) quickly due to direct customer involvement. The structure of the deal makes it more similar to a transmission project than a typical renewable energy project.
ACME Solar has a total net debt of ₹7,500 crore, all of which is tied to individual projects, with no debt at the holding company level. The debt is split between operational and under-construction assets.
For projects still under construction, repayments begin six to twelve months after they become operational. Once that period ends, the company has about 18 to 20 years to repay the loan.
ACME Solar’s current market capitalisation is ₹15,106 crore. The stock is currently trading at ₹249.75 as of 10:03 am on the NSE and has declined 1% over the last year.
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The company has secured two battery energy storage system (BESS) contracts under NHPC’s 275 MW/550 MWh bid. The first is the 50 MW/100 MWh Kuppam project, with a monthly tariff of ₹2.1 lakh per MW. The second is the larger Ghani project with a capacity of 225 MW/450 MWh and a tariff of ₹2.22 lakh per MW per month.
ACME Solar will also receive viability gap funding of ₹27 lakh per MWh or 30% of the total project cost—whichever is lower.
According to Nikhil Dhingra, CEO of ACME Solar, this is a customer-driven bid, making the process faster and less risky. Since the projects will be developed on the customer’s premises, there are no land acquisition or transmission line issues. This reduces execution challenges and shortens the timeline.
Read Here | ACME Solar signs power purchase agreement with SECI for 300MW solar project in Rajasthan
The company expects to invest about ₹500 crore in total, complete the project within 18 months, and sign the power purchase agreement (PPA) quickly due to direct customer involvement. The structure of the deal makes it more similar to a transmission project than a typical renewable energy project.
ACME Solar has a total net debt of ₹7,500 crore, all of which is tied to individual projects, with no debt at the holding company level. The debt is split between operational and under-construction assets.
For projects still under construction, repayments begin six to twelve months after they become operational. Once that period ends, the company has about 18 to 20 years to repay the loan.
ACME Solar’s current market capitalisation is ₹15,106 crore. The stock is currently trading at ₹249.75 as of 10:03 am on the NSE and has declined 1% over the last year.
Watch accompanying video for more
Follow our live blog for more stock market updates
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