Power Sector News Roundup for March 24, 2025

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Global: Nigeria to increase power transmission capacity to 10,000 MW by 2026 India: Indian Railways revives nuclear power plans Hetvi Construction-led consortium wins 125 MW solar EPC contract in Assam Torrent Power restructures renewable energy business, incorporates new subsidiaries Four firms secure bids for NHPC’s Tranche-IX solar projects Zelestra Energy signs PPAs with SJVN and Daimler India for renewable power IREDA raises Rs 12.47 billion through perpetual bonds BHEL wins Rs 75 billion contract for…

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Nigeria to increase power transmission capacity to 10,000 MW by 2026

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The Federal Government of Nigeria (FGN) has announced plans to increase the country’s power transmission capacity from 8,500 MW to 10,000 MW by the end of 2026. On March 4, 2025, Nigeria recorded its highest peak power generation of 5,801.84 MW, which was successfully transmitted to distribution centres nationwide. As per Nigeria’s Integrated Resource Plan (IRP), USD 192 million has been allocated for the construction of 16 transmission lines with a cumulative length of 595…

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MoP sets June 2025 deadline for awarding BESS contracts under VGF programme

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The Ministry of Power (MoP) has directed all states and implementing agencies to finalise the awarding of battery energy storage system (BESS) contracts by June 2025. This move aims to ensure the completion of the viability gap funding (VGF) programme by May 2027. Once contracts are awarded, the programme will require 18 to 24 months for implementation. Due to declining BESS prices, the initial target of 4,000 MWh has been revised to 13,200 MWh. The…

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BCCL monetises Dugda Coal Washery, India’s first coal washery monetisation

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Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited (CIL), has leased out the Dugda Coal Washery in Bokaro, Jharkhand, marking India’s first coal washery monetisation.  With a capacity of 2 million tonnes per annum, the move allows a private company to operate and manage the facility while the government earns revenue from the lease. The initiative, undertaken under the guidance of the Ministry of Coal, aims to optimise underutilised assets and improve…

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BHEL wins Rs 75 billion contract for Ukai thermal plant expansion

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Bharat Heavy Electricals Limited (BHEL) has secured a major contract from Gujarat State Electricity Corporation Limited (GSECL) for the expansion of the Ukai thermal power station in Tapi district, Gujarat.  The company received a letter of intent (LoI) for the engineering, procurement, and construction (EPC) package of the 1×800 MW extension unit 7. The contract, valued at approximately Rs 75 billion, includes the supply, erection, testing, and commissioning of the boiler, turbine, generator, and associated…

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IREDA raises Rs 12.47 billion through perpetual bonds

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The Indian Renewable Energy Development Agency (IREDA) has launched its first-ever perpetual bonds, raising Rs 12.47 billion at an annual coupon rate of 8.40 per cent.  This move aims to optimize its capital structure and take advantage of favourable market conditions. The bond issuance is a key step in enhancing IREDA’s Tier-I capital, ensuring a stronger financial foundation to support India’s growing green energy infrastructure. Alongside this, IREDA has received a Rs 0.24 billion tax…

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Zelestra Energy signs PPAs with SJVN and Daimler for renewable power

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Zelestra Energy (formerly Solarpack Corporación Tecnológica S.L) has signed a 25-year power purchase agreement (PPA) with SJVN Limited for setting up a 140 MW Firm and Dispatchable Renewable Energy (FDRE) power project in Solapur, Maharashtra. The agreement was finalized on March 20, 2025. The project will involve the installation of 250 MWp solar, 180 MW wind, and a 90 MWh battery energy storage system (BESS) to ensure the firm supply of 140 MW power to…

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Four firms secure bids for NHPC’s Tranche-IX solar projects

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NHPC Limited has awarded bids to four firms for developing 2,170 MW of Inter-State Transmission System (ISTS)-connected solar power projects across India under Tranche-IX. The projects will be developed on a build, own, and operate (BOO) basis. ReNew Solar Power Private Limited (ReNew Power Ventures Private Limited) emerged as the largest winner, securing a total of 900 MW, including base and greenshoe capacities. The company quoted tariffs of Rs 2.47 per kWh and Rs 2.43…

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Torrent Power restructures renewable energy business, incorporates new subsidiaries

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Torrent Green Energy Private Limited (TGEPL), a wholly owned subsidiary of Torrent Power Limited (TPL), has incorporated multiple subsidiaries to implement renewable energy projects in India. The company recently set up eight wholly owned subsidiaries—Torrent Urja 39 Private Limited, Torrent Urja 40 Private Limited, Torrent Urja 41 Private Limited, Torrent Urja 42 Private Limited, Torrent Urja 43 Private Limited, Torrent Urja 44 Private Limited, Torrent Urja 45 Private Limited, and Torrent Urja 47 Private Limited—for…

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Hetvi Construction-led consortium wins 125 MW solar EPC contract in Assam

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A consortium comprising Hetvi Construction Limited, Waaree Renewable Energy Technologies Limited (formerly Sangam Renewables Limited), and Jayantipur Construction Private Limited (JSPCL) has secured a contract from Assam Power Distribution Company Limited (APDCL) for the engineering, procurement, and construction (EPC) of a 125 MW solar power project. The project is part of the 1,000 MW Khagarijan Solar Power Project – Mukhya Mantri Sauro Shakti Prokolpo in Assam. The consortium will handle the design, engineering, supply, construction,…