Acme Solar Reports EBITDA of INR 874 Cr (up 63.6% YoY) and PAT of INR 269 Cr (up 133.5% YoY) for Q2 FY27 on Consolidated Basis
Key Highlights for Q2 till date:
* 430 MW of FDRE PPAs signed, taking total UC contracted PPA signed capacity to 4,310 MW entailing ~17 GWh2 BESS installations
* PPAs signed for 7.3 GW, representing 87% of total portfolio capacity
* Commissioned ~2.1 GWh BESS for the quarter till date, taking total commissioned BESS capacity to ~5.2 GWh – 2nd largest BESS capacity in India
* Commissioned BESS & solar enables partial commissioning of ~1.9 GW projects
* Initial Target achieved for half yearly BESS commissioning at 5 GWh
*ACME Solar Holdings upgraded to CRISIL AA-/Positive from CRISIL AA-/Stable
* Short-term BESS contracts:
* INR 1,600+ Cr revenue lock-in for partial sale of FY27 BESS capacity
* INR 1,500+ Cr revenue lock-in for partial sale of FY28 BESS capacity till date and balance to be tied up through future bids
* Strategy 2.0 Upward target revisions:
* FY27 cumulative BESS commissioning 10 GWh → 12+ GWh
* 2030 RE target from 10 GW generation capacity → 15 GW leveraging FDRE/assured peak power, CfD, RE power for Green Hydrogen/Molecules, Data Centers amongst others
Consolidated Financial Highlights:
* Revenue increased by 67.5% for the quarter (y-o-y basis), primarily driven by BESS and RE capacity addition
* EBITDA and PAT up by 63.6% and 133.5% respectively for the quarter (y-o-y basis)
* PAT margin stood at 26.7% in Q2 FY27
Business Highlights
*Capacity Commissioned:
* Commissioned ~2.1 GWh BESS during the quarter till date, taking cumulative commissioned BESS capacity to ~5.2 GWh - 2nd largest installed BESS capacity in India
* BESS Updates:
* ~19 GWh BESS contracted with reputed suppliers including CATL, Hithium, Ganfeng Li Energy, Trina, CLOU amongst others
Financing and Rating Updates:
* ACME Solar Holdings upgraded to CRISIL AA-/Positive from CRISIL AA-/Stable
* Debt tied up of ~INR 9,100 Cr from JPMorgan Chase Bank, IIFCL, REC, PFC and IREDA
* Weighted average cost of debt for fully operational projects stands at 8.4%
* Connectivity and Land Update:
* Connectivity available, secured and/or applied across all under-construction projects, including projects where PPAs are yet to be signed
* RE Connectivity inventory of ~10 GW available (including secured and applied) for upcoming bids over and above existing portfolio
Operational Highlights
* 1,840 million units (MUs) generated in Q2 FY27, up 19.6% from Q2 FY26 driven by capacity addition and higher irradiation
* Additionally, 324 million units sold in Q2 FY27 through short-term peak power BESS operations
* Capacity utilization factor has increased from 24.1% in Q2 FY26 to 27.8% in Q2 FY27
* Plant availability and grid availability at 99.3% and 99.2% respectively for Q2 FY27
Above views are of the author and not of the website kindly read disclaimer
