ACME Group Aims High with Solar Manufacturing Expansion

ACME Group plans to achieve Rs 10,000 crore in revenue from solar module and cell manufacturing by 2030. This move, part of a strategic diversification beyond renewable energy generation, includes investment in a facility in Jaipur. The company benefits from ALMM inclusion, enhancing its competitive edge.

ACME Group, a major player in renewable energy, has set an ambitious target of generating Rs 10,000 crore in revenue from its solar module and solar cell manufacturing business by 2030.

This strategic diversification involves a significant expansion beyond its traditional renewable energy generation activities. With an initial investment of around Rs 230 crore, the Gurgaon-based conglomerate has established a solar module manufacturing facility in Jaipur, Rajasthan.

The facility, now operational, has an annual production capacity of 1.2 Gigawatts and employs over 700 personnel. Additionally, ACME plans to expand its manufacturing capabilities further by setting up a new cell production facility under its ACME Renewable Equipment Manufacturing entity.

In a noteworthy development, the Ministry of New and Renewable Energy has listed ACME Group in its Approved List of Models and Manufacturers (ALMM). This endorsement offers ACME a competitive advantage by enhancing its credibility, especially in securing government contracts and private projects demanding certified modules.

Furthermore, the ALMM status boosts ACME's prospects in bidding for supply agreements in governmental projects, SECI tenders, and various schemes like rooftop solar installations and KUSUM. This initiative supports the 'Make in India' mission by promoting domestic production and reducing reliance on imports.

ACME's Chairman, Manoj K Upadhyay, emphasized that their entry into renewable equipment manufacturing aligns with national initiatives to stimulate local production and control supply chains. This position aligns with industry forecasts predicting a significant increase in India's solar module and cell manufacturing capacities by 2030.

(With inputs from agencies.)