Power Sector News Roundup for July 31, 2026
Diamond Power raises Rs 1,614 crore through institutional placement
Diamond Power Infrastructure Limited (DIACABS) has raised Rs 1,613.97 crore through a Qualified Institutional Placement (QIP), issuing 7,11,00,000 equity shares to domestic and international institutional investors. The QIP opened on July 23, 2026, and closed on July 28, 2026, with shares allotted at Rs 227 per share against a floor price of Rs 238.92 per share. Motilal Oswal Dynamic Fund and affiliates received the largest allocation at 24.78%, followed by HDFC Mutual Fund and affiliates at 18.59%. Following the allotment, DIACABS’ paid-up equity share capital increased from Rs 52.70 crore, comprising 52,69,71,060 shares, to Rs 59.81 crore, comprising 59,80,71,060 shares.
NHPC’s Bhupender Gupta gets extended additional charge as SJVN CMD
The Ministry of Power has extended the additional charge of Chairman & Managing Director (CMD) of SJVN Limited to Bhupender Gupta, CMD of NHPC Limited, for three months with effect from August 1, 2026. The extension will remain valid for three months or until the appointment of a full-time incumbent or until further orders, whichever is earliest. Gupta has been serving as CMD of NHPC since September 4, 2025, and was first assigned the additional charge of CMD, SJVN on May 1, 2025. He has more than 34 years of professional experience, including 31 years across Power Central Public Sector Undertakings (CPSUs).
Ravindra Energy secures Rs 100 crore loan from Tata Capital for solar SPVs
Ravindra Energy Limited has executed a loan agreement with Tata Capital Limited for a term loan facility of up to Rs 100 crore to fund investments in its solar project Special Purpose Vehicles (SPVs). The agreement was executed on July 30, 2026, and carries a floating interest rate of 12.50% per annum, payable monthly. The loan is secured by a first charge on Ravindra Energy’s fixed and current assets and cash flows upstreamed from the project SPVs, along with guarantees and a promoter share pledge. Tata Capital can appoint a nominee to Ravindra Energy’s Board if an event of default occurs and for the period during which the default continues.
Mecpower signs MoU for 5 GWh BESS assembly facility in Gujarat
Mecpower Solutions Ltd has signed a Memorandum of Understanding (MoU) with the Government of Gujarat to establish a 5 GWh Battery Energy Storage System (BESS) assembly facility at Karjan. The project envisages an investment of around Rs 160 crore and will cater to utility-scale as well as commercial and industrial applications. The proposed facility will add domestic BESS assembly capacity as energy storage assumes a larger role in renewable energy integration and grid stability. The project forms part of Mecpower’s strategy to expand its role in India’s energy storage ecosystem and strengthen domestic manufacturing capabilities.
Adani Energy Solutions raises Rs 3,500 crore through QIP
Adani Energy Solutions Limited (AESL) has raised Rs 3,500 crore through a Qualified Institutional Placement (QIP), issuing 2,16,71,826 equity shares at Rs 1,615 per share. The issue opened on July 27, 2026, and closed on July 30, 2026, with the issue price representing a discount of Rs 83.15, or 4.90%, to the floor price of Rs 1,698.15 per share. Aditya Birla Sun Life Mutual Fund received 49,53,560 shares across nine funds, accounting for 22.86% of the QIP, while SBI Large Cap Fund received 11,14,551 shares, or 5.14%. Following the allotment, AESL’s paid-up equity share capital increased from Rs 1,201.28 crore to Rs 1,222.95 crore.
Vedanta Q1 PAT rises 152% to record Rs 5,294 crore
Vedanta Limited reported consolidated revenue of Rs 23,456 crore for the quarter ended June 30, 2026, up 51% year-on-year, while Profit After Tax (PAT) increased 152% to a record Rs 5,294 crore. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) nearly doubled to Rs 8,469 crore from Rs 4,267 crore in Q1 FY26, while EBITDA margin increased to 57% from 47%. Net debt stood at Rs 8,299 crore as of June 30, 2026, after declining by Rs 2,223 crore during the quarter, while cash and cash equivalents were Rs 19,992 crore. Renewable energy consumption increased to 0.291 billion units during Q1 FY27 from 0.231 billion units in Q1 FY26, while Greenhouse Gas (GHG) intensity declined to 3.68 tCO2e/t-metal from 3.91 tCO2e/t-metal.
Tata Power breaks ground on 800 MW Andhra Pradesh renewable project
Tata Power Renewable Energy Limited (TPREL) has conducted the groundbreaking ceremony for an 800 MW renewable energy project in Andhra Pradesh involving an investment of Rs 5,750 crore. The project comprises 400 MW of solar capacity at Pattikonda in Kurnool and 400 MW of wind capacity at Kanekallu in Ananthapuram, with Suzlon developing the wind component on an Engineering, Procurement and Construction (EPC) basis. Of the solar capacity, 200 MW will form part of a Firm and Dispatchable Renewable Energy (FDRE) project for NTPC and include a Battery Energy Storage System (BESS) with 25 MW / 50 MWh of storage capacity. The project has secured 800 MW of Inter-State Transmission System (ISTS) connectivity and will span 3,462 acres, with around 4,000 direct and indirect jobs expected.
Kolkata’s data centre load set to surge 48% a year till 2030, ERPC warns
The Eastern Regional Power Committee (ERPC) has flagged rapid growth in data centre electricity demand as an emerging grid operation challenge due to concentrated loads, fast power variations and their impact on voltage and frequency stability. Kolkata currently has 16 MW of connected data centre capacity, while the load is projected to grow at a Compound Annual Growth Rate (CAGR) of 48% up to 2030. Cooling systems account for 35-40% of total data centre demand, and the Eastern Region has already experienced Fault-Induced Delayed Voltage Recovery (FIDVR) events in Kolkata and Bhubaneswar. ERPC has directed State Load Despatch Centres (SLDCs) and utilities to provide information on all data centres with connected loads of 5 MW and above to ERPC and the Eastern Regional Load Despatch Centre (ERLDC).
UJVNL’s 81 MW Arakot Tiuni hydro project gets EAC ToR nod
The Expert Appraisal Committee (EAC) under the Ministry of Environment, Forest and Climate Change (MoEFCC) has recommended Standard Terms of Reference (ToR) for Uttarakhand Jal Vidyut Nigam Limited’s (UJVNL) proposed 81 MW Arakot Tiuni Hydroelectric Project. The Rs 1,211.27 crore run-of-river project on the Pabar River in Uttarkashi district will have three 27 MW units and is designed to generate 318.65 MU annually at 95% machine availability. The project requires 65.66 hectares of land, including 7.68 hectares of forest land, and is expected to take four years to construct with a levelized tariff of Rs 7.65/unit. The EAC recommended the ToR on July 15, 2026, subject to conditions covering forest clearance, environmental impacts, muck management, ecosystems, rehabilitation and watershed development.
Maharashtra to modernise 1967-era transmission corridor to meet rising demand
The Maharashtra Transmission Committee (MTC) has approved a Rs 2,997.74 crore modernisation of the 220 kV Pedambe-Apta transmission corridor into a 400 kV multi-circuit network. The project involves approximately 182 km of multi-circuit transmission line and dismantling of the existing 220 kV corridor, which was commissioned in 1967. The upgrade is intended to support rising requirements across Raigad, Ratnagiri and the Mumbai Metropolitan Region (MMR), including nearly 30 Pumped Storage Projects (PSPs) aggregating around 9,490 MW in Raigad and Ratnagiri districts. MTC also approved Rs 995.52 crore for upgrading the Amravati-Karanja-Ambazari corridor and Rs 92.23 crore for reconductoring 100.6 ckm on the 132 kV Ambazari-Karanja corridors.
India commissions 2,260 MW thermal capacity in Q1 FY27: CEA
India commissioned three thermal power units with a combined capacity of 2,260 MW during April-June 2026, according to the Central Electricity Authority’s (CEA) 195th Quarterly Review of Under Construction Thermal Power Projects. The additions comprised the 800 MW Unit-2 of Patratu Super Thermal Power Project (STPP), 800 MW Unit-3 of Yadadri Thermal Power Station (TPS) and 660 MW Unit-3 of Ghatampur Thermal Power Project (TPP). As of June 30, 2026, 36 thermal projects comprising 65 units and 47,545 MW were under construction, including 44,020 MW based on supercritical technology. CEA has identified 10 thermal units aggregating 7,300 MW for commissioning during FY 2026-27.
RECPDCL incorporates SPV for Madhya Pradesh transmission project
REC Power Development and Consultancy Limited (RECPDCL) has incorporated Kukshi Alirajpur Transmission Limited as a Special Purpose Vehicle (SPV) for strengthening the intra-state transmission system in the Kukshi and Alirajpur areas of Madhya Pradesh. The project will be implemented on a Build, Own, Operate and Transfer (BOOT) basis with a concession period of 35 years from the Scheduled Commercial Operation Date (COD), while the overall Scheduled COD is 24 months from the Effective Date. The scheme includes a new 400/220/132/33 kV Air Insulated Substation (AIS) near Kukshi and a new 220/132/33 kV AIS near Alirajpur. Associated infrastructure includes multiple Loop-In Loop-Out (LILO) connections and new 220 kV and 132 kV transmission lines linking Kukshi, Alirajpur, Pati, Jobat and Ambaja.
Tata Power acquires Ryapte transmission SPV for Karnataka project
Tata Power Company Limited has acquired a 100% equity stake in Ryapte Power Transmission Limited (RPTL), the Special Purpose Vehicle (SPV) for an intra-state transmission project in Karnataka with capital expenditure of more than Rs 4,000 crore. Tata Power acquired the entire equity stake for Rs 10.87 crore in cash on July 30, 2026, after securing the project through Tariff-Based Competitive Bidding (TBCB). The Build-Own-Operate-Transfer (BOOT) project involves around 491 ckm of transmission infrastructure, including 400/220 kV substations at Ryapte and Doddathaggalli. The Scheduled Commercial Operation Date (SCOD) is 30 months from the date of acquisition of the SPV.
REC, PFC sign Rs 26,850 crore loan for 2,400 MW Meja Stage-II project
REC Limited and PFC Limited have signed a Common Loan Agreement with Meja Urja Nigam Private Limited (MUNPL) for Rs 26,850 crore to finance the 2,400 MW Stage-II expansion of the Meja Super Thermal Power Project in Uttar Pradesh. The project will comprise three 800 MW ultra-supercritical units equipped with an Air Cooled Condenser (ACC) system at Meja Tehsil in Prayagraj district and has an estimated completion cost of Rs 38,357.81 crore. REC is the lead financier, with the Rs 26,850 crore loan being funded equally by REC and PFC. MUNPL is a 50:50 Joint Venture (JV) between NTPC Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL).
SVOLT secures over 700 MWh energy storage project from Adani Green
SVOLT has secured an energy storage project of more than 700 MWh from Adani Green Energy Limited (AGEL), covering a demonstration station in Mumbai and a large-scale storage system at the Khavda renewable energy park in Gujarat. The project will use SVOLT’s self-developed 350Ah second-generation battery cells and a dual-layer liquid cooling system customised for high-temperature and high-humidity conditions in South Asia, as well as grid instability. SVOLT said the cooling system improves heat dissipation efficiency by 40%, while the battery system can achieve more than 10,000 cycles, corresponding to a lifespan of 20 years. The individual capacities, project value and commissioning schedule were not disclosed.
CEA, MoEFCC push narrower RoW for transmission lines in forest areas
The Central Electricity Authority (CEA) and the Ministry of Environment, Forest and Climate Change (MoEFCC) are encouraging transmission utilities to use improved tower configurations and advanced conductors to reduce Right-of-Way (RoW) requirements in forest areas by up to 20%. The move follows revised standards under the Central Electricity Authority (Technical Standards for Construction of Electrical Plants and Electric Lines) Amendment Regulations, 2025, notified on October 9, 2025. MoEFCC issued guidelines on July 3, 2026, requiring new transmission lines in forest areas to follow the RoW requirements under Schedule VII of the amended CEA Regulations. CEA followed with an advisory on July 30, 2026, asking utilities and developers to adopt the amended requirements while planning and executing applicable transmission projects.
RECPDCL invites bids for transmission projects in Maharashtra, Bihar
REC Power Development and Consultancy Limited (RECPDCL) has invited bids to select Transmission Service Providers (TSPs) for two intra-state transmission projects in Maharashtra and Bihar through Tariff-Based Competitive Bidding (TBCB). The Maharashtra project involves a 765/400/220 kV Air Insulated Substation (AIS) at Alkud-II/Jath in Sangli district, while the Bihar project will evacuate power from the 3×800 MW Super Thermal Power Plant (STPP) at Pirpainti in Bhagalpur. Both projects will be implemented on a Build, Own, Operate and Transfer (BOOT) basis with a concession period of 35 years from the Scheduled Commercial Operation Date (COD). RECPDCL issued the Request for Proposal (RFP) documents on July 29, 2026, with pre-bid meetings scheduled for August 24, 2026, and bids due on September 30, 2026.
Vikran Engineering wins Rs 120 crore POWERGRID GIS substation order
Vikran Engineering Limited has received a Notification of Award from Power Grid Corporation of India Limited (POWERGRID) for the 400 kV Gas Insulated Switchgear (GIS) Substation Extension Package SS-147, valued at approximately Rs 120.69 crore, exclusive of Goods and Services Tax (GST). The order covers augmentation of transformation capacity at the 400/220 kV Magramwada GIS Substation, 765/400/220 kV Vadodara GIS Substation and 400/220 kV Rajgarh Substation. Awarded through Domestic Competitive Bidding, the project includes design, engineering, manufacture, testing, supply, erection and commissioning of GIS equipment. The works will be executed through two integrated contracts covering supply of goods and services.
Voltamp Transformers Q1 revenue rises 28% to Rs 543.78 crore
Voltamp Transformers Limited reported revenue from operations of Rs 543.78 crore for the quarter ended June 30, 2026, up 28% from Rs 423.58 crore in the corresponding quarter of the previous fiscal year. Operating profit increased 11% to Rs 76.91 crore, while the Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) margin declined to 14.77% from 17.15%. The company entered the fiscal year with an order backlog of Rs 1,200 crore and has secured fresh orders worth Rs 1,142 crore since April 2026, providing total revenue visibility of Rs 2,342 crore as of date. Its new Extra High Voltage (EHV) Transformer factory is expected to be fully ready by the end of the second quarter, with full-fledged manufacturing operations scheduled from October 2026.
SJVN Q1 revenue rises 52% to Rs 1,394.38 crore, PAT slips 1.2%
SJVN Limited reported consolidated revenue from operations of Rs 1,394.38 crore for the quarter ended June 30, 2026, up 52% from Rs 917.45 crore in the corresponding quarter of the previous fiscal year. Consolidated Profit After Tax (PAT) declined 1.2% to Rs 224.74 crore from Rs 227.58 crore, while basic earnings per share stood at Rs 0.57. On a standalone basis, revenue declined 7.7% to Rs 758.83 crore and PAT fell 4.5% to Rs 246.88 crore. Survey and investigation works for the Devasari Hydro Electric Project remain on hold, with expenditure of Rs 251.45 crore incurred as of June 30, 2026.
BluPine Energy signs PPAs to supply 21 MWp solar power in Rajasthan
BluPine Energy has signed long-term Open Access Power Purchase Agreements (PPAs) with Craftsman Automation and Sunbeam Lightweighting Solutions Pvt. Ltd for 21 MWp of solar power from its Rajasthan project. The agreements will supply solar power to their manufacturing operations under the captive provisions of the Electricity Act, 2003. The PPAs expand BluPine Energy’s Commercial & Industrial (C&I) portfolio in Rajasthan. According to the company, all of its currently contracted offtakers in the state are rated AA or above.
Avaada secures USD 1.3 billion financing for 2,150 MW renewable portfolio
Avaada Group has achieved financial closure of approximately USD 1.3 billion for a 2,150 MW renewable energy portfolio comprising hybrid and utility-scale solar projects in Gujarat and Maharashtra. State Bank of India (SBI), REC Limited and Canara Bank provided the financing across four Special Purpose Vehicles (SPVs). The portfolio comprises 1.35 GW of hybrid renewable energy projects and 800 MW of utility-scale solar projects being developed for Maharashtra State Electricity Distribution Company Limited (MSEDCL) and Gujarat Urja Vikas Nigam Limited (GUVNL). Across multiple locations, the projects involve more than 3,000 MW of solar capacity and 450 MW of wind capacity.
IWTMA outlines roadmap to strengthen Tamil Nadu’s wind energy leadership
The Indian Wind Turbine Manufacturers Association (IWTMA) has outlined a policy roadmap for Tamil Nadu covering wind repowering, manufacturing expansion, transmission infrastructure, offshore wind development and exports. Its report, “Action Items for Energy Transition in Tamil Nadu”, calls for improved policy implementation, capital expenditure (CapEx) subsidies and measures to make replacement and upgrading of existing wind capacity commercially viable. The roadmap proposes manufacturing hubs around Ennore and VOC Port, stronger Green Energy Corridor planning and transmission infrastructure development ahead of anticipated demand. Tamil Nadu currently exports wind turbines and components worth more than Rs 1,000 crore annually, and the report seeks to position the state as India’s leading offshore wind manufacturing and export hub.
Brookfield launches Lumara with $600 million investment, over 6 GW portfolio
Global investment firm Brookfield has launched Lumara, a renewable energy development platform in India backed by an investment of approximately $600 million. Lumara will begin operations with a development portfolio exceeding 6 GW across solar, wind and battery energy storage system (BESS) projects. The investment is being made through Brookfield’s Catalytic Transition Fund and is intended to address project execution constraints including delays in finalising Power Purchase Agreements (PPAs), lengthy grid connectivity queues and extended land acquisition processes. Brookfield already has nearly 45 GW of wind and solar assets operational or under development across its investment platforms in India and has invested more than $32 billion in the country.
