ACME Group announced today its aim to generate ₹10,000 crore in revenue from solar module and cell manufacturing by 2030, as part of its business diversification strategy beyond renewable energy generation.
The Gurgaon-based company has invested ₹230 crore in a 1.2 gigawatt solar module manufacturing facility in Jaipur, Rajasthan. The recently commissioned plant employs over 700 people.
The Ministry of New and Renewable Energy has included ACME in its Approved List of Models and Manufacturers (ALMM), allowing the company to bid for government projects, SECI tenders, rooftop installations, and KUSUM schemes.
“Our strategic entry into renewable equipment manufacturing aligns with the Make in India initiative and marks a significant milestone in our journey to contribute to India’s clean energy transition,” said Manoj K Upadhyay, Chairman of ACME Group.
The company plans to scale up manufacturing capacity and establish new cell manufacturing facilities under its business entity ACME Renewable Equipment Manufacturing.
Industry estimates suggest India’s solar module manufacturing capacity will grow from 80 GW in 2025 to 125 GW by 2030, with solar cell manufacturing increasing from 25 GW to 40 GW in the same period. Government initiatives like ALMM promote domestic production by mandating locally manufactured modules in government-backed projects.
Published on April 6, 2025
