Jaipur, India: ACME Group is set to enter solar panel manufacturing with the launch of its first manufacturing plant in Jaipur by January 2025. The facility, operated by MKU Holdings, a subsidiary of ACME Group, will leverage advanced Tunnel oxide passivated contact (TOPCon) technology to produce 1.2 GW of solar panels. Plans are also underway to further expand into solar cell manufacturing to strengthen its position in the solar energy market.
Advanced technology and strategic investments.
The Jaipur facility will be a significant milestone for ACME Group, which is diversifying its operations beyond solar energy production. The company has invested around Rs 200 crore in TOPCon technology, which increases solar cell efficiency by enhancing light absorption. The manufacturing capacity may be further expanded based on market demand.
Additionally, ACME is considering setting up a solar cell manufacturing facility of similar capacity. This is in line with India’s push towards self-reliance in renewable energy manufacturing through initiatives such as the Approved List of Models and Manufacturers (ALMM) for solar panels launched in 2021.
Navigating policy and market dynamics.
India’s ALMM policy prevents non-approved manufacturers, including major international players, from supplying parts for domestic solar projects. This has significantly reduced imports, especially from Chinese suppliers, who previously dominated the market with an 85% share. The upcoming extension of the Approved List for Solar Cell Manufacturers to June 2026 will further restrict raw material imports until international companies obtain approval.
These regulations create a favorable environment for domestic manufacturers such as ACME. The company’s new facility aims to meet both domestic and export demand, taking advantage of higher profit margins in the global market.
Expansion in the Solar Energy Sector.
The group’s solar energy wing ACME Solar Holdings Ltd went public on November 13 and currently operates a 2.6 GW solar energy portfolio. The company has ambitious plans to expand this to 7 GW by 2027 and 10 GW by 2030, solidifying its position as a leader in India’s renewable energy sector.
Summary.
The commissioning of ACME’s Jaipur facility is a significant step in the company’s journey towards sustainable growth and market leadership in solar energy. By leveraging cutting-edge technology and aligning with national policies, ACME is poised to play a key role in India’s transition to clean energy and self-reliant manufacturing.
