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ACME Group, a leading player in the renewable energy sector, is expanding its business operations into solar equipment manufacturing. As part of its strategic diversification plan, the Gurgaon-based group aims to generate Rs 10,000 crore in revenues by 2030 through its solar module and solar cell manufacturing businesses. To mark its entry into this sector, ACME Group has invested approximately Rs 230 crore to set up a solar module manufacturing facility in Jaipur, Rajasthan. This newly commissioned facility has an annual production capacity of 1.2 gigawatts (GW) and currently employs over 700 people. The company plans to further scale up its manufacturing operations by expanding the module production capacity and establishing a new solar cell manufacturing facility. These activities will be undertaken under its newly formed entity, ACME Renewable Equipment Manufacturing. Strengthening its position in the market, ACME Group has been included in the Ministry of New and Renewable Energy’s (MNRE) Approved List of Models and Manufacturers (ALMM). This inclusion enhances ACME’s credibility as a certified solar module manufacturer and gives it a competitive edge in securing supply contracts, particularly for government-backed projects and private sector initiatives that require ALMM-certified modules. Following its ALMM accreditation, ACME Group will actively participate in bidding for the supply of solar modules under various government schemes and programs, including SECI tenders, rooftop solar installations (net metering), the PM-KUSUM scheme, and export opportunities. The ALMM listing supports the Government of India’s “Make in India” initiative by promoting local manufacturing, reducing dependence on imports, creating employment opportunities, and ensuring high-quality domestic solar modules for clean energy installations. Mr Manoj K Upadhyay, Chairman said in a statement, “Our strategic entry into the renewable equipment manufacturing business aligns seamlessly with the Make in India initiative. It marks a significant milestone in our journey to contribute meaningfully to India’s clean energy transition. We are committed to scaling up this business through new capacity enhancing investments as well as solar cells manufacturing in the next few years. Our company’s inclusion in MNRE’s Approved List of Models and Manufacturers underscores our commitment to quality, innovation, and sustainability. It also reinforces our alignment to the vision of Atmanirbhar Bharat initiative to reduce reliance on imports while positioning our nation as a global hub for clean energy equipment and technology.” ACME’s Jaipur-based manufacturing facility strengthens its supply chain control, allowing the company to further reduce the cost of renewable power generation. The state-of-the-art plant is designed to produce high-efficiency solar modules, including the latest TOPCon (Tunnel Oxide Passivated Contact) technology modules, catering to a wide range of applications—from large-scale utility power plants to residential rooftop installations. The facility positions ACME Group as a key player in supporting India’s green energy transition by addressing the increasing demand for high-quality renewable energy equipment. According to industry estimates, India’s solar module manufacturing capacity is expected to grow from 80 GW in 2025 to 125 GW by 2030. Similarly, solar cell manufacturing capacity is projected to increase from 25 GW to 40 GW during the same period. Government initiatives like the ALMM, PM-KUSUM scheme, and rooftop solar programs are playing a crucial role in driving this growth by mandating the use of domestically manufactured modules for government-supported projects. The anticipated rise in production capacity is also expected to create significant opportunities for exports, further strengthening India’s position as a global hub for solar manufacturing. With its strong foundation in renewable energy and its expansion into equipment manufacturing, ACME Group is well-positioned to contribute meaningfully to India’s clean energy targets while enhancing its own growth prospects. |
