ACME Group has set an ambitious target of generating Rs 10,000 crore in revenue from its solar module and cell manufacturing business by 2030. This is a key part of the company’s broader strategy to diversify beyond renewable energy generation and expand its presence in the manufacturing sector.
Based in Gurgaon, ACME Group has already made significant investments in the renewable equipment manufacturing sector, with an initial outlay of around Rs 230 crore. The company recently inaugurated a solar module manufacturing plant in Jaipur, Rajasthan, with an annual production capacity of 1.2 Gigawatts. The facility currently employs over 700 people and marks a major step in ACME’s expansion into the renewable equipment space.
Looking ahead, ACME plans to increase its manufacturing capacity and establish a new solar cell manufacturing facility under its newly formed business arm, ACME Renewable Equipment Manufacturing. The Ministry of New and Renewable Energy (MNRE) has recognized ACME Group by including it in the Approved List of Models and Manufacturers (ALMM). This accreditation boosts the company’s reputation as a credible solar module producer and gives it an edge in securing government-backed contracts, including those under SECI tenders, rooftop solar initiatives, and export deals.
With its inclusion in the ALMM, ACME will actively bid for government projects, net-metering schemes, rooftop solar installations, and international opportunities. The initiative also supports the government’s Make in India mission by promoting local production, reducing reliance on imports, and creating jobs. Moreover, it aligns with India’s renewable energy goals by ensuring that high-quality, domestically made solar modules are used in various installations.
Manoj K Upadhyay, Chairman of ACME Group, said, “Our foray into renewable equipment manufacturing perfectly aligns with the Make in India initiative. The new manufacturing facility in Jaipur strengthens our supply chain control and helps drive down the cost of renewable energy.”
Industry forecasts suggest that India’s solar module manufacturing capacity is expected to rise from 80 GW in 2025 to 125 GW by 2030, with solar cell production growing from 25 GW to 40 GW during the same period. Government initiatives like ALMM and schemes such as PM-KUSUM and rooftop solar programs are expected to boost demand and help achieve these targets. By 2030, a significant portion of the production is anticipated to be exported, accounting for 25-32% of total manufacturing.
ACME Cleantech Solutions , commonly known as the ACME Group, is a prominent player in the global sustainable and renewable energy sector. Established in 2003 by Manoj K Upadhyay, the company is headquartered in Gurugram, Haryana, India. Mr. Upadhyay, a visionary entrepreneur and innovator, has been at the forefront of introducing cutting-edge technology solutions, driven by extensive research and a forward-thinking approach. In its early years, ACME’s solutions were primarily designed to optimize energy consumption within the telecom industry.
