Indian renewable energy producer ACME Solar has received approval from its board’s operational committee to establish a wholly owned subsidiary in the United Arab Emirates. Tentatively named ACME Renewables FZCO, subject to regulatory approval, the firm will be launched with an initial capital investment of AED 10,000 (approximately Rs 2.61 lakh) delivered in one or several tranches. The company is now initiating the official registration process within the country.
The new Dubai-based unit is designed to oversee supply chain operations for ACME Solar's broader clean energy business, handling the procurement and logistics of components, systems, and energy storage equipment. Additionally, the unit will handle project support and hedge international market prices for critical raw materials, such as polysilicon and lithium carbonate.
