ACME Solar commissions 52 MW of Gujarat wind project; shares rise

ACME Solar Holdings Ltd has crossed a key operational milestone, commissioning an additional 8 megawatts (MW) of its wind power project in Gujarat, bringing the total operational capacity to 52 MW—more than half of the planned 100 MW facility.

The project, located in the Surendranagar district, is being developed by the company’s wholly-owned subsidiary, ACME Eco Clean Energy Pvt Ltd. The latest phase deployed high-efficiency SANY 4 MW wind turbines, installed using ACME’s in-house Engineering, Procurement, and Construction (EPC) capabilities.

Revenue visibility secured

The project’s output is tied to a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL). This long-term offtake agreement, backed by project financing from the state-run Power Finance Corporation (PFC), provides revenue stability and significantly de-risks the asset.

Leadership overhaul

In a concurrent development, the company announced the appointment of Ayalur S. Kumar as Chief Procurement and Supply Chain Officer. A 30-year industry veteran with prior stints at Fortum and ABB, Kumar will spearhead the supply chain strategy required to achieve ACME’s aggressive target of 10 gigawatts (GW) of operational capacity by 2030.

Market reaction

Investors cheered the execution progress. Shares of ACME Solar Holdings rose 1.36% to close at ₹234.06 on the National Stock Exchange (NSE) on Wednesday, outperforming a flat broader market.

With this commissioning, ACME Solar’s total operational portfolio has reached 2,942 MW. The company currently has an additional 4,578 MW under construction, alongside a growing pipeline of 15 GWh in Battery Energy Storage Systems (BESS).

Brief Summary

ACME Solar has commissioned 52 MW of its 100 MW wind project in Gujarat, crossing the halfway mark for the facility. The project is backed by a 25-year PPA with GUVNL. The company also appointed Ayalur S. Kumar as Chief Procurement Officer to drive its 10 GW expansion goal. Shares rose 1.36% on the news.

Frequently Asked Questions (FAQs)

Q1: What is the status of the Gujarat wind project?

As of December 17, 2025, ACME Solar has commissioned 52 MW of the project’s total 100 MW capacity. The remaining capacity is under construction.

Q2: Who is buying the power?

The power is sold to Gujarat Urja Vikas Nigam Limited (GUVNL) under a 25-year Power Purchase Agreement (PPA), ensuring stable, long-term revenue.

Q3: What technology is being used?

The project uses SANY 4 MW wind turbines. These are high-capacity onshore turbines designed for efficiency in India’s wind conditions.

Q4: How big is ACME Solar’s portfolio?

The company now has 2,942 MW of operational assets and another 4,578 MW under construction, positioning it as a major player in India’s renewable energy sector.

Q5: Who is the new executive?

Ayalur S. Kumar has been appointed as Chief Procurement and Supply Chain Officer. He brings extensive experience from global energy firms like Fortum and ABB.