ACME Group plans Rs 9,000 cr investments in solar power space

Embarking on an ambitious business expansion, energy solutions provider ACME Group plans to invest as much as Rs 9,000 crore to develop solar power projects in the coming years.

 

The group, which already has significant presence in the telecom space, aims to set up solar power projects having total capacity of 1,000 Mw in the country.

 

"In the next four to five years, we will be building around 1,000 Mw of solar power projects. The investment will be about Rs 8,000 to 9,000 crore," ACME Group Chairman and Managing Director Manoj Upadhyay told PTI.

 

At present, the group has about 18 Mw of installed solar generation capacity.

 

"By March (next year), we will have around 100 Mw of solar power generation capacity," said Upadhyay, who is also Founder of the group.

 

Primarily focused on energy generation, management and conservation areas, ACME Group has presence in 16 overseas geographies including Singapore, Mauritius and Malaysia.

 

The group's activities are spread across telecom, solar and defence segments, among others.

 

Against the backdrop of rising energy demand, solar segment provides good opportunities for power generators.

 

The government's Jawaharlal Nehru National Solar Mission (JNNSM), launched in 2010, aims to add 20,000 Mw of grid-connected solar power by 2022.