Power Sector News Roundup for March 26, 2026

REC approves Rs 1.6 lakh crore borrowing plan for FY27

The board of REC Limited has approved a market borrowing programme of up to Rs 1.6 lakh crore for FY27. The programme includes long-term bonds and non-convertible debentures (NCDs), external commercial borrowings (ECBs), green bonds, ESG bonds, short-term loans, and commercial papers. Long-term bonds and NCDs are capped at Rs 1,00,000 crore, while ECBs and related funding are limited to Rs 50,000 crore. Short-term loans and commercial papers are capped at Rs 10,000 crore each, with additional short-term borrowings up to Rs 20,000 crore kept outside the main programme.

NHPC approves Rs 8,000 crore borrowing plan for FY27

The board of NHPC Ltd has approved raising up to Rs 8,000 crore during FY27. Funds will be mobilised through bonds via private placement, term loans, or external commercial borrowings. The plan allows issuance in one or more tranches depending on funding requirements. Earlier approvals included Rs 2,000 crore under AH Series Bonds in January 2026 and up to Rs 20,000 crore under AG Series Bonds in July 2025.

CIL backs 875 MW solar project with Rs 3,160 crore guarantee

Coal India Limited has approved a corporate guarantee of up to Rs 3,160 crore for CIL Rajasthan Akshay Urja Limited (CRAUL) to support debt financing for an 875 MW solar PV project in Rajasthan. CRAUL is a joint venture between CIL (74%) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (26%). The guarantee underwrites CRAUL’s borrowings, with CIL’s liability capped at Rs 3,160 crore. The approval was granted at a board meeting on March 23, 2026.

Tata Power completes SEUPPTCL transmission project in Uttar Pradesh

Tata Power has commissioned the final two transmission lines under the South East UP Power Transmission Company Limited (SEUPPTCL) project. The 400 kV Tanda-Gonda and Gonda-Basti double circuit lines span 154 circuit kilometres. The network now includes 1,517 circuit kilometres across 17 corridors and can evacuate over 4,000 MW of thermal power. With this, Tata Power’s total transmission network reaches 5,466 circuit kilometres.

Adani group entities raise stake in AESL via market purchases

Promoter group entities of the Adani group have acquired shares in Adani Energy Solutions Limited through open market transactions. Adani Infra (India) Limited purchased 1.18 crore shares (0.98%) on March 23, 2026. Gelt Bery Trade and Investment Ltd acquired 96.27 lakh shares (0.80%), and Emerging Market Investment DMCC acquired 1.33 crore shares (1.11%) in earlier transactions. Combined holding of acquirers and persons acting in concert increased to 86.70 crore shares, or 72.17% of total equity.

UPNEDA blacklists rooftop solar vendor under PM Surya Ghar scheme

The Uttar Pradesh New and Renewable Energy Development Agency has blacklisted a Prayagraj-based rooftop solar vendor under the PM Surya Ghar Muft Bijli Yojana. The agency forfeited a bank guarantee of Rs 2.5 lakh citing non-compliance with quality standards. Uttar Pradesh has received over 11.7 lakh applications and installed just under 3.98 lakh systems as of March 5, 2026, a conversion rate of about 34 per cent. Nationally, installations stand at 25.02 lakh against 63.26 lakh applications.

Ceigall India signs PPAs for 337 MW solar projects in Maharashtra

Ceigall India Limited has signed PPAs with Maharashtra State Electricity Distribution Company Limited for 337 MW of solar capacity under Mukhyamantri Saur Krushi Vahini Yojana 2.0. Its subsidiaries will develop 190 MW and 147 MW projects with a combined EPC cost of about Rs 1,369 crore. The projects are to be completed within 18 months and will supply power for 25 years at tariffs between Rs 2.72 and Rs 2.86 per unit.

ReNew to sell 100 MW Tamil Nadu solar asset for $49 million

ReNew Energy Global Plc has agreed to sell a 100 MW/117.5 MWp solar project in Tamil Nadu to Technique Solaire Group at an enterprise value of $49 million. The deal involves sale of ReNew Solar Energy (Rajasthan) Private Limited and was signed on March 23, 2026. The project operates under a 25-year PPA with Tamil Nadu Generation and Distribution Corporation Limited at Rs 3.47 per unit. ReNew expects net proceeds of about $24 million.

WBSEDCL cancels 250 MW BESS tender, withdraws award to PM Green

West Bengal State Electricity Distribution Company Limited has annulled a 250 MW or 1,000 MWh standalone BESS tender at Goaltore. The letter of award issued to PM Green Private Limited, a subsidiary of Power Mech Projects Limited, has been withdrawn. The cancellation was due to administrative and procedural exigencies. The company’s order book will decline by Rs 1,563 crore.

Sterlite Electric appoints Frederic Trefois as group CEO

Sterlite Electric Limited has appointed Frederic Andre M Trefois as group chief executive officer. He previously served as a non-executive independent director on the company’s board. Trefois has been associated with Sécheron Hasler group and SNC-Lavalin Inc and holds a degree in civil engineering. The company stated that he will lead its next phase of growth.

Saatvik Solar leases 185 acres in Madhya Pradesh for manufacturing

Saatvik Solar Industries Private Limited has leased 185 acres of land in Madhya Pradesh from MP Industrial Development Corporation Limited. The land spans about 7.48 lakh square metres at Mohasa-Babai in Narmadapuram district. The lease tenure is 99 years. The site is designated for manufacturing of power and renewable energy equipment.

Accord Transformer signs MoU with Moscow district for energy collaboration

Accord Transformer & Switchgear Limited has signed a non-binding MoU with the Western Administrative District of Moscow. The agreement covers cooperation in energy infrastructure, manufacturing, EPC projects, and technology development. It includes potential joint ventures and local manufacturing in Moscow. The MoU was signed on March 22, 2026.

GRE Renew Enertech secures Rs 12.95 crore EPC solar project order

GRE Renew Enertech Limited has secured a Rs 12.95 crore EPC contract from Ajita Sil-Chem Private Limited. The project involves a 4,032 kW DC or 3,000 kW AC captive solar plant. It will be executed on a turnkey basis and completed within about six months. The order was received on March 25, 2026.