Acme Solar, a fully integrated renewable energy company in India, has reported total revenue of INR 401 crore for the third quarter of FY 2025, up 9.9% year-on-year. Consolidated profit after tax (PAT) for Q3 is 152% up YoY at INR 112 crore.
Net debt stood at INR 6,882 crore comprising INR 6,069 crore for operational portfolio and INR 813 crore for under-construction capacity.
Manoj Kumar Upadhyay, chairperson & MD, Acme Solar Holdings, said, the company’s strong financial and operating performance in Q3 FY25 was driven by significant capacity expansions. “A key milestone was the successful commissioning of the 1,200 MW ISTS SECI plant in Rajasthan, taking our operational portfolio to 2,540 MW. This achievement represents one of the largest single-day commissioning of solar projects,” he added.
The company expects its operational portfolio to give a steady state annual EBITDA of INR 1,750 crore – INR 1,800 crore. It recently won a capacity of 1,900 MW, which takes the under-construction capacity to 4,430 MW. Debt is tied up for 1,700 MW (38%) of the under-construction capacity.
Acme Solar has a diversified portfolio across solar, wind, hybrid and Firm and Dispatchable Renewable Energy (FDRE) projects. The company generates long-term stable cashflows through the sale of electricity to various off-takers including central and state government-backed entities via long-term contracted PPA, typically at fixed tariff rates for 25 years. The company has in-house engineering, procurement, construction (EPC) and operation and maintenance capabilities.
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