Indian solar developer ACME Group has established a new subsidiary to manage its renewable equipment manufacturing business, under which it is planning to scale production of TOPCon PV modules.
The company has appointed Jitendra Agrawal as chief operating officer (COO) of its manufacturing business. He will lead ACME’s growth and scale-up plans domestically and internationally. According to the company, Agarwal will oversee new investments and strengthen the company’s presence across the renewable products and ancillary equipment value chain.
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“Our strategic entry into the renewable equipment manufacturing business marks a significant milestone in our journey to contribute meaningfully to India’s clean energy transition,” Agrawal said. “We are committed to scaling up this business through new capacity enhancing investments, strengthening our portfolio and investing in manufacturing capacity.”
Gurugram-headquartered ACME Solar Holdings has an operational capacity of 2,890MW, spanning solar, wind, storage, firm and dispatchable renewable energy (FDRE), and hybrid solutions. In early 2025, the Ministry of New and Renewable Energy (MNRE) included ACME Group in the Approved List of Models and Manufacturers (ALMM) list.
Recently, the firm has launched its ACM-HD144N TOPCon bifacial dual glass TOPCon modules with a 600W peak power output, which it said had been designed to withstand challenging conditions, such as salt, ammonia and sand. The company is also expanding manufacturing to backward integrate and scale capacity.
In September 2025, ACME Venus Urja, a subsidiary of ACME Solar Holdings, secured INR3.8 billion (US$43 million) from State Bank of India to develop a 400MW solar project with co-located battery energy storage system (BESS) in Barmer, Rajasthan. The FDRE project was contracted with state-run National Hydroelectric Power Corporation (NHPC) at INR 4.64/unit, with repayment structured over 19 years.
In June 2025, Chinese PV tracker manufacturer Arctech signed an agreement with ACME to supply 175MW of solar trackers for a facility near Duqm, Oman. Additionally, ACME secured INR31.84 billion in project financing from REC Limited for a 280MW project in India. The project, combining solar and battery storage, was contracted to NHPC under a 25-year power purchase agreement (PPA) at INR4.64/kWh.
