ACME solar holdings Limited was originally incorporated as ‘ACME Solar Holdings Private Limited’ at Haryana, India, as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated June 3, 2015, issued by the Registrar of Companies, Delhi and Haryana at New Delhi. Upon the conversion of the company into a public limited company, pursuant to a board resolution dated May 1, 2017, and a shareholders’ resolution dated May 2, 2017, the name of the company was changed to ‘ACME Solar Holdings Limited’, and a fresh certificate of incorporation dated May 12, 2017, was issued by the RoC. Pursuant to a board resolution dated January 21, 2020, and a shareholders’ resolution dated January 24, 2020, the company was converted into a private limited company and consequently, the name of the company was changed to ‘ACME Solar Holdings Private Limited’, and a fresh certificate of incorporated dated July 1, 2020, was issued by the Registrar of Companies, New Delhi. Due to administrative and commercial considerations the company was converted from a public limited company to a private limited company on July 1, 2020.

The company is a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (FDRE) projects. The company is one of the largest renewable energy independent power producers (IPP) in India. over the years, it has diversified and expanded its portfolio from solar power projects to become an integrated renewable energy company in India. It develops, builds, owns, operates and maintains utility scale renewable energy projects (through its in-house engineering, procurement and construction (EPC) division and operation and maintenance (O&M) team), and generates revenue through the sale of electricity to various off-takers including central and state government-backed entities. 

The company was established in 2015 to consolidate the ACME Group’s renewable energy business and to capitalize on the opportunities in the Indian renewable energy industry. The ACME Group is promoted by Manoj Kumar Upadhyay and ACME Cleantech was incorporated in 2003. It originally operated as a provider of energy management solutions to wireless telecommunications operators in India and subsequently entered into the renewable energy generation business in 2009. 

Business area of the company 

The company is a renewable energy company in India with a portfolio of solar, wind, hybrid and firm and dispatchable renewable energy (FDRE) projects

Awards, accreditations and recognition

• 2016: ‘Utility Scale Solar Project Developer’ recognition at Solar Today.
• 2018: ‘Best Corporate Social Responsibilities Practices’ award at ET Now, Rise with India.
• 2018: ‘Best Solar Utility of the Year’ award at ET Now, Rise with India.
• 2018: ‘Leadership in Performance’ award at Confederation of Indian Industry, Performance Excellence Award 2018 for Solar and Wind Plants.
• 2018: Excellence award for solar and wind plants at Confederation of Indian Industry.
• 2022: ‘Utility Scale Solar Project Developer of year for the state of Maharashtra (Platinum)’ award at Suryacon Pune Conference.
• 2022: ‘Solar Developer Company of the year (Gold category)’ award at EQ PV Invest Tech India 2022.
• 2022: ‘Utility Scale Solar company of year for Rajasthan (Gold)’ award at Rajasthan State Annual Solar Awards.
• 2023: Certificate of recognition for securing silver in the energy and power category ‘Industrial Safety Leadership Award’ to Dayanidhi Solar Power Private Limited at Confederation of Indian Industry Andhra Pradesh Industrial Safety Excellence Awards 2023.
• 2024: Runner-up awarded for Outstanding Solar Project to Nirosha Power Private Limited by Indian Federation of Green Energy at 4th India Green Energy Awards Utility Scale Solar Developer of the year (Platinum) at India Annual Solar Awards 2024 by EQPro & C2Z.

History and milestones

• 2015: Incorporation of the company.
• 2017: Acquisition of operational portfolio of 494 MW renewable energy plants from ACME Group by the Company, along with EPC capabilities to become a vertically integrated renewable energy power developer
• 2017: Achieved installed capacity of 1 GWp of renewable energy till December 2017.
• 2017: Expanded its presence to commission renewable energy plants across ten different states in India.
• 2018: The Company developed 299.5 MWp solar power plant at Bhadla, Rajasthan.
• 2018: Commissioned over 2 GWp of renewable energy.
• 2018: Commissioned 50th solar energy power plant.
• 2020: 400 MW and 100 MW of solar plants sold to ACTIS and AMPLUS, respectively.
• 2021: 260 MW and 250 MW of solar plants sold to Renew and Ayana, respectively.
• 2021: Refinanced the debt of certain of its Project SPVs through green bonds wherein the Project SPVs issued unlisted NCDs in Fiscal 2022 for a total amount of Rs 24,855.25 million ($334.00 million) including a top up debt of Rs 5,029.30 million (US$ 67.58 million) to India Cleantech Energy, whose green bonds are listed on the Singapore Stock Exchange.
• 2022: Commissioned over 3 GWp of renewable energy.
• 2023: Awarded with its first wind energy project of 150 MW by GUVNL.
• 2024: 369 MW of solar plants sold to Blupine. 
• 2024: Diversified into complex renewable energy projects with award of 570 MW of FDRE project from SJVN and 680 MW of FDRE projects from NHPC.
• 2024: Awarded Hybrid/Hybrid with peak power projects of 830 MW.
• 2024: Awarded Solar project of 300 MW and Solar and BESS of 350 MW.