ACME seeks to tap global investors for its $2.7-bn India solar push

It is seeking to raise about a quarter of the total investment by tapping global investors from private equity firms to pension funds

India’s ACME Solar Holdings Pvt. is seeking partners to help fund a plan to more than triple its solar generation capacity.

The company, which in 2018 aborted a public listing because of stock market turbulence and uncertainty over the nation’s energy policy, plans to expand its solar capacity to 10 gigawatts over the next five years at a cost of Rs 20,000 crore ($2.7 billion), the company’s founder and chairman Manoj K. Upadhyay said in an interview.

ACME currently has 2.9 gigawatts of operating capacity with a further 2 gigawatts already funded and nearing completion, he said.

“It’s a capital