Thu Nov 07 04:20:00 UTC 2024: ## ACME Solar Holdings Ltd. Receives “SUBSCRIBE” Rating from KR Choksey: Growth Potential in Renewable Energy Sector

**Mumbai, India -** KR Choksey Securities has issued a “SUBSCRIBE” rating for ACME Solar Holdings Ltd., a leading renewable energy company in India, citing its attractive growth potential and strong position in the sector.

ACME Solar boasts a diverse portfolio of solar, wind, hybrid, and firm and dispatchable renewable energy (FDRE) projects, making it one of India’s largest independent power producers (IPPs). The company has a significant operational capacity of 1,340 MW in solar power and a further 3,250 MW under construction, further solidifying its position as a leader in the sector.

The company’s business model revolves around Power Purchase Agreements (PPAs) with state-run distribution companies (DISCOMs) and institutional buyers, ensuring stable and long-term cash flows.

KR Choksey highlights the company’s attractive valuation at 23x EV/EBITDA, which is considered cheaper compared to its peers. This, coupled with its leadership in the renewable energy sector, suggests strong growth potential for ACME Solar.

**Disclaimer:** The views expressed in this article are solely those of KR Choksey Securities and do not reflect the views of Moneycontrol.com or its management. Please consult with a qualified financial advisor before making any investment decisions.

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