Global brokerage Nomura initiated coverage on Acme Solar Holdings on October 19, 2026, assigning a Buy rating with a target price of ₹505, implying a 21% upside from the current ₹418 market price. Nomura also gave a Neutral rating to NTPC Green Energy, with a target price of ₹100, suggesting a 14% upside from its ₹88 market price, according to livemint.com.
Nomura’s report highlights a shift in India’s renewable energy sector, emphasizing the growing importance of energy storage and dispatchable power as solar and wind capacity expands. The brokerage noted that developers investing in battery storage and projects capable of delivering power beyond peak solar hours could benefit from this transition. This reflects the evolving dynamics of renewable energy supply and demand in India’s grid system.
India’s renewable energy capacity, excluding hydropower, reached 223 GW in fiscal year 2026, up from 46 GW in FY16, making it the world’s third-largest market by capacity, per the International Renewable Energy Agency. Renewables’ share of electricity generation rose to 17% in FY26 from about 1% in FY06. However, the intermittent nature of solar power, with generation peaking during daylight and demand peaking later, creates grid management challenges that increase the need for energy storage solutions.
Nomura’s target prices and ratings reflect the brokerage’s view on the growth potential in India’s renewable sector, particularly for firms addressing storage and dispatchability. The brokerage’s coverage initiation on October 19, 2026, provides investors with updated guidance amid India’s expanding renewable energy market.