Why are ACME Solar shares surging amid flat market?

The stock jumped as much as 5.17% to hit the day's high of ₹318 on the NSE in the trade, its 52-week peak level.

The rally in stock price could be attributed to an update the company shared this morning.

In its press release, ACME Solar, on Thursday, said its wholly owned subsidiary, ACME Venus Urja Private Limited, has secured long-term project funding of ₹3,892 crore from State Bank of India (SBI) for the development and construction of a 400 MW Firm and Dispatchable Renewable Energy (FDRE) project with repayment spread across 19 years.

The funding is significant, as it represents the company’s largest financing from SBI and also represents SBI’s first financing in ACME’s FDRE projects, the company said.

The project is being developed in Barmer, Rajasthan, and is contracted with NHPC at a tariff of ₹4.64/unit. The project would entail installing a solar and Battery Energy Storage System (BESS) to meet the supply obligations and ensure higher dispatchability as per the PPA conditions, it added.

About ACME Solar Holdings

ACME Solar Holdings is one of the leading integrated renewable energy players with a diversified portfolio spanning solar, wind, storage, FDRE and hybrid solutions and an operational capacity of 2,890 MW.

FDRE stands for Firm and Dispatchable Renewable Energy.

With an in-house EPC and O&M division, the company does end-to-end development and O&M of the plants, thereby delivering projects in a time- and cost-effective manner while ensuring best-in-class operating performance evident in its industry-leading CUF and operating margins.

In solar power, CUF stands for capacity utilisation factor.

Recently, ACME Solar Holdings said it has placed an order of 2 GWh of Battery Energy Storage System (BESS) with leading global energy system supplier Chuzhou Lishen New Energy Technology Co., Ltd through POSCO International Corporation and China FAW Group Import and Export Co., Ltd.

The order will be delivered in phases over the next six to 10 months and will be deployed across ACME Solar's FDRE (Firm & Dispatchable Renewable Energy) and standalone BESS projects, scheduled for commissioning over the next 12 to 18 months.

"With this latest order, ACME Solar's cumulative BESS procurement surpasses 5 GWh, following a previous order of 3.1 GWh BESS placed in July 2025. This strategic purchase will ensure timely availability of the BESS system, playing a key role in de-risking project commissioning timelines & accelerating overall project delivery," Nikhil Dhingra, CEO of ACME Solar, said.