ACME Solar surges 8% on Investec Buy rating with 25.5% upside potential. UK brokerage initiated coverage with Rs 319 target price, citing four key growth drivers. The renewable energy company is transitioning into India's leading Firm and Dispatchable Renewable Energy player. With 5.1 GW under construction and strong pipeline visibility, ACME aims to scale capacity to 6 GW by FY28 and 8 GW by FY30, representing 26% CAGR. Robust project execution is backed by secured power purchase agreements for 3.5 GW and evacuation infrastructure already in place. FDRE projects comprise 79% of the under-construction portfolio, delivering plant load factors exceeding 40% and 18% returns on equity. Financial projections are impressive, with revenue, EBITDA, and PAT expected to grow at 62%, 63%, and 69% CAGRs respectively through FY28. Consolidated RoCE and RoE are projected to reach 11.0% and 19.
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