ACME Solar Rallies on Commissioning Solar Projects in Rajasthan

ACME Solar Holdings rallied 4.24% to Rs 239.65 after the company, through its subsidiaries commissioned the remaining 62 MW and 28 MW solar projects in Rajasthan.Earlier, on 19 December 2024, the firm informed about the commissioning of an aggregate capacity of 1,023.05 MW of solar power projects in Rajasthan by its wholly owned subsidiaries, ACME Dhaulpur Powertech and ACME Raisar Solar Energy.

The subsidiaries have now commissioned the remaining capacity of 62 MW and 28 MW on 7 January 2025. These two plants are now fully commissioned to a rated capacity of 300 MW each.With this, ACME Solar Holdings total operational renewable generation capacity has increased to 2,453 MW. ACME Solar Holdings is a renewable power generation company in India with a portfolio of solar, wind, hybrid, and FDRE (firm and dispatchable renewable energy) projects.The companys consolidated net profit declined 60.4% to Rs 15.30 crore on 19.7% fall in revenue from operations to Rs 259.59 crore in Q2 FY25 over Q2 FY24.The scrip debuted into the stock market on 13 November 2024. The counter was listed at Rs 259, exhibiting a discount of 10.38% to the issue price of Rs 289.