ACME Solar Boosts Rajasthan Energy Storage with New BESS Project

ACME Solar Holdings Ltd., through its subsidiary ACME Surya Power Private Limited, has commissioned a new 35.714 MW / 160.512 MWh Battery Energy Storage System (BESS) project in Bikaner, Rajasthan. This latest addition, commissioned on April 29, 2026, brings the company's total operational BESS capacity to 175.223 MW / 787.387 MWh. Commercial operations are scheduled to begin on May 1, 2026.

Why This Matters

Battery Energy Storage Systems (BESS) are crucial for grid stability, especially with increasing renewable energy penetration. They store excess power generated during off-peak hours and discharge it during peak demand, smoothing out the intermittency of solar and wind power. This commissioning enhances ACME Solar's capability to provide reliable, round-the-clock power solutions.

Expansion Background

This commissioning marks another step in ACME Solar's aggressive expansion of its BESS capacity, particularly in Rajasthan. The company has been adding capacity through multiple phases in early 2026. By mid-April 2026, ACME Solar had already operationalized over 2 GWh of BESS capacity in Rajasthan alone. Nationally, the company aims for 10 GWh of BESS capacity by 2027. This expansion increases ACME Solar's power generation and storage infrastructure, strengthening its position in the growing energy storage market and improving the reliability of its renewable energy portfolio.

Key Risks for Investors

Investors are monitoring several key factors. ACME Solar is challenging a Goods and Services Tax (GST) show cause cum demand notice through a civil writ petition filed in the Rajasthan High Court. Additionally, on March 25, 2026, MarketsMOJO downgraded the company's rating to 'Sell'. The rating cited high leverage, with a Debt to EBITDA ratio of 6.00 times, alongside expensive valuation and weakening technical indicators, despite strong recent financial results. The significant concentration of recent BESS capacity additions in Rajasthan also remains a point of note.

Competitive Environment

ACME Solar is expanding its BESS portfolio amidst strong competition. Peers like Adani Green Energy and Tata Power Renewable Energy are also significant players in India's renewable and BESS landscape, driving innovation and capacity growth across the sector.

What to Watch Next

Key developments for investors to track include the commencement and performance of commercial operations starting May 1, 2026. Progress and outcomes of the GST dispute in the Rajasthan High Court will be important. Market reaction to the recent 'Sell' downgrade by MarketsMOJO, further BESS expansion announcements, and the company's efforts to manage its debt levels and leverage ratios will also be closely watched.