India has plenty of solar power at noon and not nearly enough of it at 8 pm. That gap is what battery energy storage systems are designed to fill, by soaking up cheap daytime power and releasing it when demand peaks. Developers who can pair generation with storage can offer power that behaves more like a conventional plant. That is why firm and dispatchable renewable energy projects, which combine the two, are now in demand.
Shares of ACME Solar Holdings Ltd. were trading at Rs. 441.45, up 0.56 percent from previous close of Rs. 439.00. The stock opened at Rs. 442.00, reaching an intraday high of Rs. 447.20 and low of Rs. 436.50. The company currently has a market capitalization of Rs. 31,276 crores.
What’s the News?
ACME Solar Holdings commissioned two battery blocks on 30 September 2026. The first is Phase-I of the storage component at its FDRE project at Neemri, Chittorgarh district, Rajasthan, built through its subsidiary ACME Sigma Urja. It adds 53.73 MW / 222.969 MWh out of a planned 250 MW / 1,069 MWh. Only the battery part is ready, as the renewable generation side of that project is still under development.
The second is Phase-III of the storage component at its project at Kelan, Bikaner district, through ACME Greentech Seventh. This block is 53.63 MW / 214.52 MWh out of 300 MW / 1,200 MWh, which takes the project’s commissioned storage to 159.58 MW / 638.32 MWh. The power purchase agreement for the Bikaner project is with SJVN Limited. Both blocks are due to start commercial operations on 2 October 2026.
Financial & Business Analysis
Looking at the quarterly results of ACME Solar Holdings Ltd., the company’s consolidated revenue increased by 67.81 percent YoY, from Rs. 510.98 crore in Q1 FY26 to Rs. 857.50 crore in Q1 FY27, and increased by 56.52 percent QoQ from Rs. 547.85 crore in Q4 FY26.
In Q1 FY27 ACME Solar Holdings Ltd.’s consolidated net profit increased by 79.89 percent YoY, reaching Rs. 235.33 crore compared to Rs. 130.82 crore during the same period last year. As compared to Q4 FY26, the net profit has increased by 70.20 percent, from Rs. 138.30 crore. The basic earnings per share stood at Rs. 3.71 as against Rs. 2.16 recorded in the same quarter in the previous year, FY2026.
ACME’s revenue still comes mainly from selling power from its solar and wind plants, but storage is becoming a visible second leg. Most of the storage revenue so far has come from short-term contracts, with the rest from merchant sales. The company’s total portfolio is made up of 59 percent FDRE, hybrid and other projects, 39 percent solar and 2 percent wind. That mix shows how heavily the company is tilting towards projects that carry batteries.
The order book supports this push. ACME has an under-construction contracted portfolio of 5,080 MW and has ordered battery capacity for its entire under-construction PPA-signed portfolio. It has also raised its target to commission more than 10 GWh of storage by FY27. These two blocks add roughly 0.44 GWh towards that goal, and because batteries start earning as soon as they are switched on, they bring in revenue even while the generation side of the project is still being built.
Industry Context
India’s storage market is coming in from the cold. The country added 7.9 GWh of battery storage in the first half of 2026, reaching operational capacity of 8.5 GWh, about 11 times more than a year earlier. Crisil expects 45-50 GWh to be commissioned over the current and next financial years, while the National Electricity Plan projects a need for about 236 GWh by FY2032.
ACME is already a big name in this space. Its cumulative commissioned storage of about 3.62 GWh is roughly 40 percent of India’s total. The Rajasthan location also makes sense, as the state is the country’s largest solar hub with about 43 GW installed, which is where storage is most needed to move midday power into the evening. The more solar the grid takes in, the more valuable that stored power becomes.
Company Overview
ACME Solar Holdings Limited is a Gurugram-based renewable energy company and one of India’s largest renewable independent power producers, incorporated in 2015. Its business spans solar, wind, storage, FDRE and hybrid solutions. It has an operational contracted capacity of 2,990 MW, a total portfolio of 8,070 MW and about 3.62 GWh of commissioned battery storage.