- ACME Solar commissioned the first 52.5 MW phase of its 300 MW Sikar Solar Power Project in Bikaner, Rajasthan- a state in Northern India.
- CRISIL assigned an ‘AA-’ rating with a stable outlook for ACME’s 300 MW Jaisalmer project.
ACME Solar Holdings has successfully commissioned the first phase of its 300-megawatt (MW) solar power project in Bikaner, Rajasthan- a state in Northern India. The company announced that the current operational capacity of 52.5 MW is the initial segment of the ACME Sikar Solar Power Project.
“With the successful commissioning of the first phase, ACME Solar has added 52.5 MW to its portfolio, increasing its total operational capacity from 2,540 MW to 2,592.5 MW,” the company stated in an official release.
The Sikar Solar Power Project spans 1,300 acres in one of India’s highest solar irradiation zones. ACME highlighted the project’s strategic location as a key factor in contributing meaningfully to India’s renewable energy targets.
Engineers are pooling clean energy generated from the plant at inverter stations and stepping it up for evacuation via a dedicated 220 kV single-circuit transmission line to the Bikaner-II grid substation. Power Finance Corporation (PFC) has financed the project. Upon full commissioning, it is expected to produce approximately 780 million units of clean electricity annually.
According to the release, ACME plans to sell the generated electricity through power exchanges on a merchant basis, allocating supply based on optimal commercial utilisation.
Headquartered in Gurgaon, ACME Solar is an integrated renewable energy firm with a diverse portfolio totalling 6,970 MW across solar, wind, firm and dispatchable renewable energy (FDRE), and hybrid technologies. Of this, 2,592.5 MW is operational, while the remaining 4,377.5 MW is under various stages of development.
In related developments, CRISIL Ratings last month assigned an ‘AA—’ rating with a stable outlook to the long-term bank facilities of ACME Dhaulpur Powertech Private Limited (ADPPL), a wholly owned subsidiary of ACME Solar. The rating covers a ₹990 crore term loan secured from the Indian Renewable Energy Development Agency Limited (IREDA) for a 300 MW interstate transmission system (ISTS)- connected solar power project in Jaisalmer, Rajasthan.
CRISIL cited strong revenue visibility, robust financial metrics, and reliable debt servicing capability as key strengths. It also noted the 25-year Power Purchase Agreement (PPA) signed with Solar Energy Corporation of India (SECI) at a fixed tariff, which ensures predictable long-term cash flows. SECI’s consistent record of timely payments further enhances the project’s credit profile.
CRISIL also recognised the project’s efficient capital deployment and above-target energy generation, reinforcing its favourable operational and financial performance.