Diversifies Into Module & Cell Production to Capitalize on India’s Renewable Boom
Key Expansion Highlights
✅ New Jaipur Facility:
- 1.2 GW solar module production (operational)
- ₹230 crore initial investment, employs 700+ people
- ALMM-listed – Eligible for govt. solar projects
✅ 2030 Vision:
- ₹10,000 crore revenue target from solar manufacturing
- Planned cell manufacturing unit to reduce import reliance
- Export ambitions: 25-32% of production by 2030
✅ Strategic Shift:
- Expands beyond renewable energy generation into equipment manufacturing
- Aligns with Make in India and Aatmanirbhar Bharat in solar tech
Why This Expansion Matters
1. Strengthening India’s Solar Supply Chain
- Reduces dependence on Chinese imports (currently ~80% of cells)
- Supports MNRE’s ALMM mandate for domestic modules in govt projects
2. Market Opportunities
📈 Domestic Demand:
- PM-KUSUM, rooftop solar, and SECI tenders driving growth
- 125 GW module capacity expected by 2030 (vs. 80 GW in 2025)
🌍 Export Potential:
- Targeting US, EU, and Middle East markets
- Competitive pricing with localized production
3. Cost & Quality Advantages
✔ Better supply chain control for ACME’s own solar projects
✔ Lower LCOE (Levelized Cost of Energy) with in-house manufacturing
Leadership Insight
Manoj K Upadhyay, Chairman, ACME Group:
“Our entry into solar manufacturing aligns with India’s self-reliance goals. The Jaipur facility enhances our supply chain resilience and helps reduce renewable energy costs.”
Government Policy Tailwinds
🔹 ALMM (Approved List of Models & Manufacturers) – Mandates Indian-made modules for govt projects
🔹 PLI Scheme – Incentives for high-efficiency solar manufacturing
🔹 Customs Duties – On imported cells/modules to boost local production
What’s Next?
- Scale-up to 5 GW+ module capacity
- Cell manufacturing plant announcement expected soon
- Bidding for SECI, KUSUM, and rooftop solar tenders