ACME Solar maps major battery storage buildout through FY29
ACME Solar Holdings is expected to commission 7.8 GW through FY30 and add 15.7 GWh of battery storage through FY29, while merchant EBITDA is estimated to peak at ₹1,400 cr in FY28.
pre-market1 source ↓machine-written, see hownot a recommendation
- in the headline
- 15.7 GWh BESS additions
- before moderating
- ₹1,400 cr in FY28
ACME Solar Holdings is set to expand its renewable generation and battery energy storage capacity through FY29, with Axis Capital estimates pointing to 15.7 GWh BESS additions in the headline. The annual figures cited in the report are 6.7 GWh in FY27, 6 GWh in FY28 and 3.9 GWh in FY29; these add up to 16.6 GWh, creating a difference that investors will need to reconcile with the company’s formal project disclosures. The report was published on 15 Oct 2026.
The generation pipeline is also expected to scale materially. Axis Capital estimates commissioning of 1.1 GW in FY27, 2 GW in FY28, 2.95 GW in FY29 and 1.75 GW in FY30, or 7.8 GW across the four fiscal years. The planned shift from predominantly standalone solar projects towards storage-linked renewable projects and firm power delivery changes the earnings mix ⚡. Battery capacity can support dispatchable supply, while merchant sales provide exposure to electricity prices beyond contracted power purchase agreements.
Merchant earnings are expected to become a meaningful contributor. Axis Capital estimates merchant EBITDA at ₹960 cr in FY27, rising to ₹1,400 cr in FY28 before moderating to ₹1,170 cr in FY29. This creates a separate earnings monitor from contracted revenue and makes project commissioning, storage utilisation and realised merchant tariffs important operating variables for the renewable-energy sector.
The next points to watch are the timing of capacity commissioning, the conversion of the storage pipeline into awarded or construction-ready projects, and the company’s disclosures on the discrepancy between the 15.7 GWh headline and the 16.6 GWh annual estimate total. Investors will also track whether merchant EBITDA develops in line with the estimates as new assets enter operation 🔋. The expansion reflects the broader sector move towards hybrid renewable projects, storage-backed supply and greater participation in merchant electricity markets.
Source: TradingView, 15 Oct 2026
Not investment advice. For informational purposes only.