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ACME Group Enters Solar Module Manufacturing with 1.2 GW Facility

ACME Group has officially commenced commercial operations at its new solar module manufacturing facility following a stabilization phase. While trial production began in January, full-fledged operations were initiated after MKU Holdings Pvt. Ltd, a subsidiary of the group, was included in the Ministry of New and Renewable Energy’s (MNRE) Approved List of Models and Manufacturers (ALMM).

The company has invested approximately Rs230 crore in setting up the manufacturing unit and has ambitious plans to scale up capacity in the coming years. ACME’s renewable energy equipment manufacturing business will be housed under MKU Holdings Pvt. Ltd, which has outlined a strategic roadmap targeting Rs10,000 crore in revenue by 2030.

Commitment to 'Make in India' and Clean Energy Goals

Manoj K. Upadhyay, Chairman of ACME Group, emphasized that the company’s foray into renewable energy equipment manufacturing aligns with the government’s ‘Make in India’ initiative. “This marks a major milestone in our commitment to supporting India’s transition to clean energy. We aim to strengthen our presence in this space through additional investments in capacity expansion and solar cell manufacturing over the next few years,” Upadhyay stated.

The recent ALMM listing of MKU Holdings enables the company to participate in government-backed projects as well as private ventures requiring certified solar modules. This move is expected to bolster ACME’s competitiveness in the domestic solar market and contribute to India’s efforts in reducing dependence on imports.

Expanding Market Presence and Technology Adoption

With its inclusion in ALMM, ACME Group intends to actively bid for solar module supply contracts under various government schemes, including tenders from the Solar Energy Corporation of India (SECI), rooftop solar projects, and initiatives such as the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM). The company also aims to tap into export opportunities.

The newly operational Jaipur facility is equipped to produce high-efficiency solar modules, including advanced TOPCon technology, catering to diverse applications ranging from large-scale solar farms to rooftop installations. With this expansion, ACME enters direct competition with leading domestic solar manufacturers such as Adani Solar, Waaree Energies, Vikram Solar, and Tata Power Solar.

India’s Renewable Energy Push and Local Manufacturing Drive

The launch of ACME’s solar module manufacturing unit aligns with India’s broader objective of achieving 500 GW of non-fossil fuel-based power generation capacity by 2030. The central government has been aggressively promoting domestic solar equipment manufacturing to meet this target while reducing reliance on imports, particularly from China.

A key driver of this initiative is the Rs24,000 crore Production-Linked Incentive (PLI) scheme under the National Programme on High-Efficiency Solar PV Modules, which aims to strengthen India’s solar ecosystem. Currently, the country’s solar module manufacturing capacity stands at around 80 GW, with projections to reach 125 GW by 2030. Similarly, solar cell manufacturing capacity is expected to grow from the current 25 GW to 40 GW.

ACME Group already has a diversified renewable energy portfolio, comprising solar, wind, hybrid, and firm power projects. The company’s total installed renewable energy capacity exceeds 2.7 GW. Additionally, it has an in-house engineering, procurement, and construction (EPC) division, along with operations and maintenance teams, to oversee its large-scale renewable energy projects.

This expansion into module manufacturing marks a significant step in ACME’s growth strategy, reinforcing its commitment to advancing India’s renewable energy sector and strengthening the domestic supply chain for solar equipment.