Power Sector News Roundup for March 9, 2026

KPI Green subsidiary signs BESPA with GUVNL for 445 MW BESS projects

KPI Green Energy Limited announced that its subsidiary, Sun Drops Energia Limited, has signed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for standalone battery energy storage system (BESS) projects. The agreement covers projects with an aggregate capacity of 445 MW / 890 MWh across multiple locations in Gujarat. The projects were awarded through a tariff-based competitive bidding process conducted by GUVNL under Phase-VII and are supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF). Sun Drops Energia will develop, own and operate the projects and supply contracted storage capacity to GUVNL under a long-term arrangement. The BESPA follows the issuance of a Letter of Intent (LoI) by GUVNL on January 3, 2026.

ACME Solar commissions first phase of 300 MW BESS project in Rajasthan

ACME Solar Holdings Limited (ASHL) stated that its wholly owned subsidiary, ACME Sun Power Private Limited, has commissioned the first phase of its battery energy storage system (BESS) project in Rajasthan. The commissioned segment forms part of a larger 300 MW / 1400 MWh BESS project being developed at Village Badi Sid, Tehsil Bap, in the Phalodi and Jodhpur districts. The first phase has a capacity of 33.335 MW with an energy storage capacity of 160.48 MWh, with the commercial operation date (COD) set as March 8, 2026. Earlier, on March 5, 2026, another subsidiary, ACME Suryodaya Private Limited, commissioned the second phase of its BESS project in Rajasthan, adding 38 MW / 82 MWh in the Jaisalmer district. The first phase of that project became operational on February 25, 2026, adding 19 MW / 38 MWh.

Premier Energies completes 51% stake acquisition in HeliosAnthos Energies

Premier Energies Limited has completed the acquisition of equity shares in HeliosAnthos Energies Private Limited as part of a joint venture with BA Prerna Renewables Private Limited. The company acquired 1,045,550 equity shares for a consideration of Rs 10,455,500 through a preferential allotment via private placement. With the transaction, HeliosAnthos Energies Private Limited has become a subsidiary of Premier Energies Limited, representing 51% of the company’s paid-up equity share capital. The company received confirmation of the completion of the transaction on March 3, 2026. The joint venture will undertake engineering, procurement, and construction (EPC) projects in solar, wind, battery energy storage system (BESS), and hybrid power projects in India.

Tata Power partners with Salesforce to digitize renewable energy operations

The Tata Power Company Limited has announced a collaboration with Salesforce to support the digital transformation of its renewable energy operations through Tata Power Renewable Energy Limited (TPREL). The company has deployed Salesforce’s Agentforce Sales, Agentforce Service, and Agentforce Marketing platforms across its renewable energy portfolio. The system integrates lead management, inventory visibility, process automation, and real-time performance monitoring to support partner and customer operations. Tata Power has also developed a proprietary deep learning and agentic intelligence layer on the platform for zero-touch quality and safety validation, including automated warranty generation for Solaroof installations. The company reported more than 200% growth in its residential rooftop solar segment over the past two financial years, supported by the Pradhan Mantri Surya Ghar Yojana, with solar portfolio revenues increasing fivefold between FY2020 and FY2025.

Sterling and Wilson liquidates Kazakhstan subsidiary

Sterling and Wilson Renewable Energy Limited has completed the liquidation of Sterling and Wilson Kazakhstan LLP effective March 2, 2026, with the formal order received on March 6, 2026. The entity operated as a step-down subsidiary through Sterling and Wilson Singapore Pte. Ltd., a wholly owned subsidiary of the company. According to FY2024-25 consolidated financial statements, the Kazakhstan entity reported a net loss of Rs 1.28 crore and accounted for -0.13% of consolidated net assets. Another Kazakhstan entity, Sterling and Wilson International LLP (Kazakhstan), remained inactive with negligible financial impact. The company stated that no consideration or buyer was involved in the liquidation and no related party transactions occurred.

Karnataka budget 2026-27 allocates funds for BESS, solar and power subsidies

The Government of Karnataka has presented the state budget for 2026-27 with allocations for power subsidies, renewable energy expansion, and grid infrastructure. Over the past three years, Rs 48,000 crore has been spent under the free electricity subsidy scheme covering 36 lakh irrigation pump sets and about 21 lakh farmers, with Rs 19,290 crore allocated for 2026-27. Under the Gruha Jyothi scheme, 1.74 crore consumers have registered and Rs 10,578 crore has been allocated for the coming financial year. The state plans to add 2,000 MWh of battery energy storage system (BESS) capacity at Huliyur, Pavagada, and Kushtagi substations at an estimated cost of Rs 3,400 crore. Additional initiatives include a 3,000 MW solar programme under Mukhya Mantri Saura Krishi Yojane with an estimated investment of Rs 10,500 crore, 2,777 MW feeder solarisation under the KUSUM-C scheme, 100 new substations in 2026-27, 1,250 EV charging stations under the PM-E Drive scheme costing Rs 777 crore, and a renewable energy startup incubation centre costing Rs 20 crore.

SEBI approves IPO for Eastman Auto and Power

Eastman Auto and Power Limited (EAPL) has received approval from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO). The company operates across battery storage, power electronics, and solar technologies and was incorporated in 2000 under the JRS Eastman Group. EAPL reports more than 50 per cent volume share in the electric three-wheeler (E3W) battery segment as of FY2025 and supplies batteries to over 400 E3W original equipment manufacturers (OEMs) across India. The company operates eight manufacturing facilities with combined production capacity of about two million units annually and total battery manufacturing capacity of 11.47 GWh. For FY25, EAPL reported revenue of Rs 4,228 crore with a compound annual growth rate (CAGR) of 28 per cent between FY23 and FY25.

SJVN awards 600 MW ISTS-connected wind capacity to four developers

SJVN Limited has concluded its auction for 600 MW of interstate transmission system (ISTS)-connected wind power capacity. KPI Green Energy Limited secured 300 MW at a tariff of Rs 3.64 per kWh. Urdhvaga and Adyant were awarded 120 MW and 110 MW respectively, both at Rs 3.64 per kWh, while Lambent Energy obtained 70 MW at Rs 3.65 per kWh through the bucket-filling method. Developers will construct the wind projects along with associated transmission infrastructure up to the designated delivery point. The tender was issued in September 2025 as part of efforts to expand renewable energy capacity and strengthen grid integration.

Andhra Pradesh plans 200 substations with Rs 6,000 crore investment

The Government of Andhra Pradesh has announced plans to establish 200 new power substations across the state at an estimated cost of Rs 6,000 crore. Energy Minister Gottipati Ravi Kumar presented the proposal in the State Assembly in Amaravati. The expansion targets regions with increasing electricity demand across industrial, commercial, residential, and agricultural sectors. Authorities have identified high-load areas and prepared proposals to strengthen distribution networks and reduce transmission losses. The programme also includes development of several 33/11 kV substations and two 220 kV substations in Vizianagaram district at an estimated cost of Rs 46 crore.