ACME Solar Holdings shares trade 3% higher; three developments you need to know

The stock has seen a consistent rally over the past six months. Data show that ACME Solar Holdings scrip has rallied nearly 58% in the past six months, around 7% in the past 30 days, and 4% in the past five days.

ACME Solar awarded 50 MW FDRE project by Tata Power

On September 3, 2025, the company, in its filing to stock exchanges, said it has been awarded an LOA for a 50 MW Firm and Dispatchable Renewable Energy (“FDRE”) project at a tariff of ₹4.43/unit in a 250 MW FDRE tender floated by Tata Power Company Limited (Tata Power-D). Notably, Tata Power-D is a licensed electricity distribution company and is a part of Tata Power Company Limited.

The FDRE tender was floated under tariff-based competitive guidelines (TBCB), for which an e-reverse auction was conducted on August 13, 2025.

The project will be required to maintain a minimum annual CUF of 40% and ensure four hours of peak-hour supply with 90% availability on a monthly basis, the company said.

"The project would combine multiple renewable energy technologies, including Solar and Battery Energy Storage System (BESS), to meet the supply obligations for PPA tenor of 25 years. The commissioning timeline of the project is 24 months from the PPA signing," ACME Solar added.

Update from PFC Consulting Limited (PFCCL)

On September 2, ACME Solar said that on September 1, 2025, the company received confirmation from PFC Consulting Limited (PFCCL), the bid coordinator, that successful bidders may exit from the Letter of Award (LoA) without any penalty and collect their Earnest Money Deposit (EMD).

PFCCL has communicated that the above decision has been taken on account of (i) the Ministry of Power’s order dated January 21, 2025, making participation in the Flexibility Scheme voluntary, and (ii) a writ petition filed before the Hon’ble Delhi High Court by West Bengal State Electricity Distribution Company Limited (WBSEDCL) challenging provisions of the scheme, which remains sub judice.

The company said, "As previously disclosed, the Letter of Award was awarded on February 6, 2024 ('LoA') for a 300 MW solar project at a tariff of ₹2.53/kWh under the Flexibility Scheme, proposed to be developed through ACME Sigma Urja Private Limited as the project SPV.

The Flexibility Scheme, issued on April 12, 2022, aimed for flexible generation and scheduling of thermal/hydro power stations by bundling with renewable and storage energy.

"The project is generating no revenue or profit currently; therefore, there is no material impact on the company’s current financial performance or profitability," it said.

Fundraising

ACME Solar Holdings will seek approval of shareholders to raise up to ₹3,000 crore through the issuance of securities.

According to a notice for the annual general meeting (AGM) scheduled on September 29, 2025, the company proposes to raise capital of up to an amount not exceeding ₹3,000 crore, in one or more tranches, by way of one or more offerings and/or, and/or qualified institutions plac and/or and/ or further public offer and/or any other permitted modes.

The proposed special resolution seeks to confer upon the board the absolute discretion to issue securities in one tranches andranches, determine the terms of the aforementioned issuance of securities, including the exact price, proportion and timing of such issuance, based on analysis of the specific requirements, said a PTI report.

About ACME Solar Holdings

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

"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," the company says.