ACME Solar Clarifies Grid Access Intact Amid Reports of 17 GW Project Cancellations

ACME Solar on Wednesday (September 10) issued a clarification stating that none of its projects have had grid access revoked, contrary to media reports suggesting otherwise. Recent reports indicated that India had cancelled grid access for nearly 17 GW of delayed clean energy projects, citing prioritisation of connections for operational or near-completion projects.

Company Clarification

In its response, ACME Solar confirmed that all of its connectivity approvals remain intact and that no revocation or cancellation has taken place. The company added that it has not received any communication from the Central Transmission Utility of India Limited (CTUIL) regarding any such action.

The developer reiterated that it regularly provides required disclosures to stock exchanges and will continue doing so in line with regulatory requirements.

Recent Financing Activities

ACME Solar has continued to secure financing for its renewable energy projects. In August, the company announced that its wholly owned subsidiary, ACME Hybrid Urja Pvt Ltd, had obtained long-term project financing worth ₹3,184 crore from REC Ltd.

The funds will be used for the development and construction of a 280 MW firm and dispatchable renewable energy (FDRE) project contracted with NHPC. REC will act as the sole lender for the project, providing financing over an 18-year term.

This marks REC’s third financing initiative for ACME Solar’s FDRE projects, following two earlier contracts this year covering a combined capacity of 570 MW.

Acme Solar Holdings Limited Share Price Performance

On September 10, 2025, Acme Solar Holdings Limited share price opened at ₹301.70, compared to the previous close of ₹300.25. During the session, the stock touched a high of ₹306.70 and a low of ₹297.75 before closing at ₹302.35, up by 0.70% at the end of the trading day.

The stock recorded a traded volume of 10.97 lakh shares and a traded value of ₹33.17 crore on the NSE. The total market capitalisation stood at ₹18,294.83 crore, with a free float market cap of ₹3,034.01 crore. Over the past 52 weeks, the stock has hit a high of ₹315.00 and a low of ₹167.75. Acme Solar Holdings Limited is currently trading at a P/E ratio of 43.69.

Conclusion

ACME Solar’s clarification underscores the company’s stable position in India’s renewable energy sector despite reports of large-scale grid access cancellations. With continued project financing support from REC and ongoing development of FDRE projects, the company remains focused on its long-term growth plans.

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