Power Sector News Roundup for August 5, 2026
NHPC’s Q1 profit rises 2.9% to Rs 1,096 crore; revenue up 18.5%
NHPC Limited reported a 2.9% year-on-year increase in consolidated net profit to Rs 1,096 crore for the quarter ended June 30, 2026. Revenue from operations rose 18.5% to Rs 3,808 crore, while EBITDA increased 30.6% to Rs 2,352 crore and EBITDA margin improved to 61.8%. During the quarter, the company commissioned the fourth 250 MW unit of the 2,000 MW Subansiri Lower Project, taking commissioned capacity to 1,000 MW. It also recognised provisional revenue of Rs 574.31 crore from the Subansiri Lower Project and Rs 364.42 crore from the 800 MW Parbati-II Hydroelectric Project. The 510 MW Teesta-V Power Station resumed commercial generation in July 2026 following restoration after the October 2023 flash flood.
PTC India reports 12% growth in Q1 power trading volume
PTC India Limited reported a 12% year-on-year increase in power trading volume to 25,783 million units (MU) during the quarter ended June 30, 2026. Income from the trading business increased 11% year-on-year to Rs 86.31 crore, while standalone profit after tax stood at Rs 70.67 crore. On a consolidated basis, profit before tax was Rs 150.96 crore and profit after tax was Rs 112.08 crore. The Board declared an interim dividend of Rs 23 per equity share of face value Rs 10 and said market reforms introduced by the Central Electricity Regulatory Commission (CERC), including Virtual Power Purchase Agreements (VPPA), market coupling and amendments to power market regulations, are expected to create new opportunities.
Waaree Energies incorporates subsidiary for green hydrogen and green ammonia business
Waaree Energies Limited has incorporated WH Clean Fuels Private Limited as a step-down wholly owned subsidiary through Waaree Clean Energy Solutions Private Limited. Incorporated on August 3, 2026, the company will undertake projects related to green hydrogen and green ammonia. It has not commenced commercial operations and currently has nil turnover. Waaree Energies stated that the incorporation does not involve any related party transaction and that its promoters and group companies have no interest in the new subsidiary.
Rajesh Power Services wins Rs 362 crore PGVCL underground cabling contract
Rajesh Power Services Limited has secured a turnkey contract worth Rs 362.82 crore, inclusive of taxes, from Paschim Gujarat Vij Company Limited (PGVCL). The project covers conversion of existing 11 kV HT lines and LT distribution networks into underground cable networks with a ring main system in the Jamnagar City-2 Division. The work is scheduled for completion within 24 months. The company stated that the contract is domestic in nature and is not a related party transaction.
RMC Switchgears secures over Rs 336 crore in utility orders from Gujarat and Telangana
RMC Switchgears Limited has secured contracts worth more than Rs 336 crore from Paschim Gujarat Vij Company Limited (PGVCL) and the Southern Power Distribution Company of Telangana Limited. The company received 12 Letters of Award (LOAs) from PGVCL worth Rs 333.79 crore for underground distribution infrastructure projects in Gujarat and a Rs 2.44 crore order for LT distribution boxes in Telangana. The Gujarat projects include Geographic Information System (GIS) mapping, Geo Urja mapping and asset tagging and will be executed within 12 to 18 months. The Telangana order has an execution period of 12 months.
IEX electricity trading volume rises 7.7% to 13,527 MUs in July 2026
The Indian Energy Exchange (IEX) recorded electricity traded volume of 13,527 million units (MUs) in July 2026, up 7.7% year-on-year. India’s energy consumption reached 170.70 billion units during the month, while the average Day-Ahead Market clearing price rose to Rs 4.99 per unit. The Real-Time Market grew 10.2% to 5,631 MUs and the Term-Ahead Market increased 93.4% to 1,774 MUs, while the Day-Ahead Market declined 7.7% to 5,087 MUs. A total of 7.11 lakh Renewable Energy Certificates (RECs) were traded during the month.
Standard Chartered arranges USD 730 million refinancing for ReNew RTC project
Standard Chartered has arranged a USD 730 million External Commercial Borrowing (ECB) facility to refinance ReNew Surya Roshni Private Limited, owner of India’s first Round-the-Clock (RTC) renewable energy project. The refinancing includes USD- and JPY-denominated tranches provided by a syndicate of 12 international banks. ReNew Surya Roshni has 1,138.6 MW of renewable capacity comprising 738.6 MW of wind, 400 MW of solar PV and a 92 MWh Battery Energy Storage System (BESS). The project is backed by a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI).
GE Vernova to supply 43 wind turbines for Enfinity Global’s Rajasthan project
GE Vernova Inc. has signed an agreement with Enfinity Global to supply 43 units of its 3.8 MW–154m onshore wind turbine for the Fatehgarh Wind Farm in Rajasthan. Deliveries are scheduled to begin in the fourth quarter of 2026 and include turbine supply and installation. The turbines will be manufactured at GE Vernova’s Pune facility and are certified under the Approved List of Models and Manufacturers (ALMM). Enfinity Global currently has a 4 GW renewable portfolio in India, with around 300 MW already operational.
CEA proposes new grid connectivity standards for generators, ESS and bulk consumers
The Central Electricity Authority (CEA) has released the draft Central Electricity Authority (Technical Standards for Connectivity to the Grid) Regulations, 2026, replacing the 2007 regulations. The draft expands technical standards to cover energy storage systems (ESS), inverter-based resources (IBRs), high voltage direct current (HVDC) systems and Flexible AC Transmission Systems (FACTS). It introduces new requirements for reactive power capability, ride-through performance, compliance verification and an eight-stage connectivity framework. Stakeholder comments have been invited until September 2, 2026.
PGCIL commissions Rajasthan REZ Phase-III Part-H transmission project
Power Grid Corporation of India Limited (PGCIL) has commissioned the “Transmission System for evacuation of Power from REZ in Rajasthan (20 GW) under Phase-III Part-H”, with commercial operation effective July 4, 2026. The project includes a 765 kV double-circuit transmission line between Beawar and Dausa, Loop-In-Loop-Out (LILO) works and a 2×1500 MVA, 765/400 kV substation at Dausa. The scheme forms part of the evacuation infrastructure for Rajasthan’s 20 GW Renewable Energy Zone (REZ). PGCIL received the Declaration of Commercial Operation notification on August 3, 2026.
EAC clears Adani’s Nivakane pumped storage project near tiger reserve buffer
The Expert Appraisal Committee (EAC) has recommended Environmental Clearance (EC) for Adani Green Energy Limited’s 2,700 MW Nivakane (Integrated) Pumped Storage Project in Satara district, Maharashtra. The Rs 14,952 crore off-stream closed-loop project will generate 5,617.35 MU annually and operate on a six-hour daily cycle. The recommendation is subject to conditions related to wildlife clearance, natural springs, seismic risks, muck disposal and socio-economic measures. The proposal will now be submitted to the Ministry of Environment, Forest and Climate Change (MoEFCC) for final approval.
CG Power bags Rs 288 crore PGCIL transformer contract
Power Grid Corporation of India Limited (PGCIL) has awarded CG Power and Industrial Solutions Limited a contract worth approximately Rs 288.26 crore. The order covers the supply of 13 x 500 MVA, 765/400/33 kV single-phase transformers under the “765 kV Transformer Package 7TR-19-BULK”. The contract is scheduled for completion by August 26, 2028. CG Power emerged as the lowest (L1) bidder among four qualified companies.
KEC energises 765 kV Koppal–Raichur line under Karnataka REZ scheme
KEC International Limited has energised the 765 kV Double Circuit Koppal–Raichur Transmission Line under the Koppal-II & Gadag-II Renewable Energy Zone (Phase-A) Scheme in Karnataka. The line enables immediate evacuation of 2 GW of renewable energy and can support up to 8 GW as additional capacity is commissioned. The project forms part of the Inter-State Transmission System (ISTS) and is intended to strengthen renewable energy integration into the national grid. The company also recently secured new orders worth Rs 1,063 crore.
Evren secures 750 MW renewable PPA with NTPC
Evren, established by Brookfield in partnership with Axis Energy, has signed a 750 MW Renewable Energy Power Purchase Agreement (PPA) with NTPC Limited. The agreement covers solar, wind and battery energy storage projects across Andhra Pradesh and Rajasthan. The projects are expected to generate around 2.5 billion units of clean energy annually and reduce nearly 1.8 million tonnes of carbon dioxide emissions each year. The PPA adds to Evren’s 11 GW renewable energy development pipeline, with more than 3.5 GW under construction.
SECI, CEEW partner to develop new renewable energy business models
Solar Energy Corporation of India Limited (SECI) and the Council on Energy, Environment and Water (CEEW) have signed a Memorandum of Understanding (MoU) to develop future-ready renewable energy business models. The partnership will focus on innovative power procurement, market development, knowledge sharing and capacity building. The MoU was signed by Shri Prashant Soni of SECI and Dr Arunabha Ghosh of CEEW. The exchange took place in the presence of senior representatives from both organisations.
Serentica commissions first 200 MWh phase of 1 GWh BESS in Rajasthan
Serentica Renewables has commissioned the first 200 MWh phase of its 1 GWh Battery Energy Storage System (BESS) in Bikaner, Rajasthan. The system is designed to store surplus renewable electricity generated during the day and supply it during peak demand periods, including nighttime. The company said the project supports one of the world’s first time-block Round the Clock (RTC) renewable power arrangements for industrial consumers. Serentica plans to build a 7 GWh battery order pipeline over the next two years.