ACME Solar Commissions 300 MW Sikar Project in Rajasthan

ACME Solar Holdings fully commissioned its 300 MW Sikar Solar project in Rajasthan on June 24, 2025, increasing its operational capacity to 2,890 MW. Spread across 1,300 acres in Bikaner, the project supports India’s 500 GW non-fossil fuel target by 2030, generating 780 million units of clean energy annually.

ACME Solar Holdings completed the 300 MW Sikar Solar project in Bikaner, Rajasthan, after commissioning the final 60 MW on June 23, 2025, following 240 MW activated earlier in the quarter. Located in one of India’s highest solar irradiation zones, the project spans 1,300 acres and connects to the Bikaner II substation at 220 kV. It is expected to produce 780 million units (MUs) of renewable energy yearly, powering approximately 200,000 households. The project, awarded under the SECI-ISTS XVIII scheme at a tariff of Rs 3.05 per unit, awaits a Power Purchase Agreement (PPA) finalization, with the tariff approved by the Central Electricity Regulatory Commission (CERC).

ACME’s portfolio, now at 6,970 MW across solar, wind, and hybrid solutions, includes 4,080 MW under development. The company also commissioned a 50 MW wind project in Shapar, Gujarat, in the same quarter, marking its wind energy debut. India’s 159.5 GW renewable capacity, with 108 GW from solar, benefits from such projects, but 10% grid curtailment and land acquisition delays, affecting 20% of projects, pose challenges. The Sikar project’s debt, financed by Power Finance Corporation, supports scalability, though high financing costs (8.5% annually) strain margins.

The project creates 1,500 jobs and reduces emissions by 700,000 tonnes annually, aligning with India’s net-zero 2070 goal. ACME’s Rs 1,072 crore refinancing for a 250 MW Rajasthan project, secured on June 23, 2025, lowered debt costs by 95 basis points, enhancing financial stability. Posts on X highlight ACME’s 25-year PPA with NHPC for a 250 MW firm and dispatchable renewable energy (FDRE) project, reflecting its clean energy focus. India’s $2 billion PLI scheme for solar manufacturing supports firms like ACME, reducing 50% import reliance.

Challenges include regulatory delays, with PPAs pending for 30% of SECI projects, and environmental concerns, like 5% habitat disruption. Rajasthan’s 12 GW solar capacity, with 5 kWh/m²/day irradiation, offers ideal conditions, but grid upgrades, costing $1 billion by 2030, are needed. Gujarat’s 10 GW solar parks provide a model for efficient land use and grid integration.

Conclusion

ACME Solar’s 300 MW Sikar project bolsters India’s renewable energy landscape, supporting 2030 targets. Addressing grid and regulatory challenges is crucial for scaling clean energy initiatives.

Source: Outlook Business,