ACME Solar Holdings stock reached a record high after expanding its battery energy storage system capacity to over 4 GWh. The company added 52.32 MW to its Bikaner project and is scaling up its hybrid renewable energy portfolio. Investors are focusing on the progress of its large-scale solar and wind projects, with full completion targeted for Q3 FY27.
Bikaner Project Expansion
ACME Solar Holdings stock reached a record high following the commissioning of the second phase of its battery energy storage system at the Bikaner project in Rajasthan. This expansion adds 52.32 MW and 209.28 MWh to the grid-connected system. The project now holds a total operational battery storage capacity of 105.95 MW and 423.80 MWh.
Transition to Integrated Energy
Integrating batteries with solar power is a core part of the company's strategy. This approach helps create firm and dispatchable renewable energy, which means the company can supply power when demand is high, even after sunset. This shifts the business model from traditional solar power generation to a more flexible energy supply system. The company aims to complete the remaining 300 MW and 1,200 MWh BESS capacity by the third quarter of fiscal year 2027.
Partnerships and Financing
The Bikaner project is supported by a long-term power purchase agreement with SJVN Limited, which provides a level of revenue security. Project financing for this development has been arranged through the Rural Electrification Corporation. In addition to its battery storage initiatives, the company is developing a hybrid renewable project at Kelan, involving 300 MW of solar and 100 MW of wind power. The first 66.68 MW phase of this hybrid project has been commissioned. This project is backed by an agreement with NTPC Limited and financing from the Power Finance Corporation.
Capacity Milestones and Market View
With these recent additions, the company’s total operational renewable capacity has grown to approximately 3,057 MW, and its total battery storage capacity has crossed the 4 GWh milestone. HSBC Global Investment Research has updated its outlook, adjusting the target price to ₹450 while maintaining a Buy rating. The brokerage noted the company’s transition toward integrated renewable projects as a factor that may support future growth.
For investors, the primary monitorables remain the execution timeline for the remaining capacity and the ability to manage the capital spending required for these complex projects. The long-term success of these developments will also depend on the stability of payments from public sector partners and the company's ability to maintain efficient operations as it scales its integrated energy portfolio.