Renewable energy firm ACME Solar Holdings plans to invest Rs 17,000 crore as capital expenditure to boost renewable energy capacity to 5 gigawatts by 2026.

“We intend to focus our new capacities on the revenue and margin accretive Hybrid and FDRE renewable energy projects as a critical pivot in our business strategy,” Nikhil Dhingra, CEO of the company, was quoted in the statement.

The CEO added that ACME Solar plans to expand capacity in two phases, starting in April this year.

According to the statement, the company is also evaluating entry into the nuclear energy segment, though these plans are still on the drawing board.
As part of a broader strategy, ACME Solar aims to triple its current renewable capacity to 7 GW by 2028.