ACME Solar Q1 FY27 Revenue Hits Record INR954 Crore

Capacity Utilization Factor (CUF): 30.9% (highest in company's history vs 28.5% in Q1 FY26)
Power Generation: 2020 million units, up 23% year-on-year

Total Portfolio: 8,070 MW, entailing approximately 20 GWh of battery storage
PPA Signed Capacity: 3,880 MW (out of 5,080 MW under-construction capacity)
PPA Pipeline: Balance 1,200 MW expected to be signed soon
New PPAs Signed: 600 MW of FDRE and hybrid PPAs with SECI during the quarter

Q1 FY27 BESS Commissioning: 2.3 GWh during the quarter
Cumulative Commissioned BESS: 3.62 GWh
Market Share: Approximately 40% of India's cumulative commissioned BESS capacity

BESS Revenue: INR226 crore from BESS power sales (out of total INR954 crore revenue)
85% from short-term contracts
15% from merchant sales
EBITDA to Capex Yield: More than 20% annually
Contracted Revenue: Secured short-term BESS contracts locking in more than INR1,400 crore revenue for partial FY27 BESS commission capacity

Company demonstrated large-scale FDRE through battery operations with charging/discharging in 15-minute slot intervals

Debt Secured: Approximately INR6,000 crore for 700 MW of under-construction FDRE projects
Debt Coverage: Debt tied up for nearly 85% of PPA-signed portfolio

Root Cause: Electrical short circuit in AC cabling between transformer and power conversion system
Impact: Localized fire and equipment shutdown with no damage to battery systems or other equipment
Safety Measures: AI-enabled video analytics, arc-flash sensors, aerosol-based fire suppression systems, enhanced fire barriers, improved cable protection
Warranty: Long-term warranty for BESS and other equipment from suppliers
Team: 50-member in-house EPS BESS team responsible for integration, installation, commissioning, and operation

Electricity Demand: 485 billion units in Q1 FY27, up 8.8% year-on-year
Peak Power Demand: Reached all-time high of 271 GW during quarter
Installed Capacity: 548 GW as of June 30, 2026, with non-fossil fuels accounting for 54%
Renewable Additions: 13.9 GW added in Q1, taking cumulative renewable capacity to 289 GW

MNRE Extension: Commissioning deadline for Open Access and Net Metering renewable projects extended to December 31, 2026
ISTS Waiver: Ministry of Power extended graded ISTS waiver benefits for projects delayed due to transmission readiness for PPAs signed up to June 30, 2026
BESS Connectivity: CTU began granting BESS connectivity through Right of First Refusal route

FY27 Capex: Upgraded to approximately INR15,000-20,000 crore (from previous guidance)

BESS Commissioning: Upgraded from 10 GWh by calendar year 2027 to more than 10 GWh by fiscal year 2027 (bringing forward milestone by nearly 3 quarters)
Renewable Capacity: Expect to commission 1.5 GW of contracted renewable energy generation capacity in FY27, subject to timely availability of substation and transmission lines

Battery Orders: Already ordered more than 15 GWh of battery from leading global suppliers (CATL and Hithium) within budgeted cost
Cost per GWh: Approximately INR93 lakh (including IDC, EPC profit, all capitalized costs)

Expected Bid Categories: Midterm contracts, long-term peak power, RTC FDRE, CFD related to peak power, and state bids
2030 Target: Contemplating increase beyond previous 10 GW guidance based on new growth opportunities

Merchant Capacity: Plan to maintain 10-12 GWh of battery capacity available for short-term power market annually for next 5 years
Realizations: INR8-10 per unit for short-term contracts
Contract Tenure: Typically 6-9 months (maximum 1 year)
Market Depth: Estimated 300-500 GWh merchant market potential, possibly reaching 1 TWh

GNA Timeline Management: Commissioning batteries ahead of solar where GNA connectivity delayed
Module Procurement: Being opportunistic with current prices around INR11.60