Power Sector News Roundup for August 27, 2026
Avaada Electro files UDRHP for proposed Rs 7,600 crore IPO
Avaada Electro Limited has filed its Updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI), advancing its proposed initial public offering of up to Rs 7,600 crore. The company plans to raise up to Rs 1,600 crore through a fresh issue, while promoter Avaada Ventures Private Limited will offer shares worth up to Rs 6,000 crore through an Offer for Sale (OFS). Approximately Rs 1,200 crore from the fresh issue will be used to repay or settle borrowings and letter-of-credit obligations, with the remaining proceeds allocated towards general corporate purposes. Avaada currently operates 8.5 GW of solar module manufacturing capacity and 3 GW of TOPCon solar cell capacity.
APAR Industries partners with UK’s AssetCool for coated conductors
APAR Industries Limited has entered into an arrangement with AssetCool (Cable Coatings Limited), headquartered in England, UK, under which AssetCool has granted APAR a commercial licence to procure and apply its proprietary photonic coatings to conductors. The licence covers AssetCool’s SE01 (Surface Enhanced) coating and associated application equipment, enabling APAR to manufacture coated conductors for India and international markets. The companies have also agreed in principle to collaborate on deploying AssetCool’s in-field coating robotics range to increase the capacity of existing overhead lines. The SE01 coating can lower conductor operating temperatures by up to 25% and enable up to a 30% increase in ampacity or approximately a 10% reduction in power loss.
Juniper Green signs PPA with SJVN for 50 MW FDRE project
Juniper Green Energy Limited, through its subsidiary Juniper Nirjara Energy Private Limited, has signed a 25-year Power Purchase Agreement (PPA) with SJVN Limited for a 50 MW Firm and Dispatchable Renewable Energy (FDRE) project under the SJVN FDRE-2 scheme. The PPA was signed on August 26, 2026, at a tariff of Rs 4.25 per unit. The project will combine solar generation with Battery Energy Storage System (BESS) capacity and requires four hours of peak-hour supply with 90% availability on a monthly basis. The scheduled commercial operations date (SCOD) is within 24 months from the effective date of signing the PPA, with annual revenue expected at approximately Rs 80 crore.
Roofsol Energy secures first C&I BESS order from ACG
Roofsol Energy Pvt Ltd has secured its first Battery Energy Storage System (BESS) order in the Commercial and Industrial (C&I) segment through a 5 MWp solar and 4 MWh BESS Power Purchase Agreement (PPA) with Associated Capsules Group (ACG). The project has been secured in Maharashtra from ACG World, a global manufacturer of empty hard capsules and pharmaceutical packaging solutions. Under the PPA, the project will combine 5 MWp of solar capacity with 4 MWh of BESS. The project marks Roofsol Energy’s entry into the C&I BESS segment.
August Energy, Energeia launch USD 100M partnership for energy efficiency projects
August Energy, a Singapore-headquartered energy-as-a-service (EaaS) infrastructure platform, and Indian energy efficiency company Energeia have formed a USD 100 million partnership to finance and deliver energy efficiency projects for commercial and industrial (C&I) customers across India. The partnership will focus on cooling as a service (CaaS) and upgrades to cooling, heating, steam, compressed air, fuel switching and motor-driven systems. It will also support August Energy-led deployment of solar, wind and storage. Under the EaaS model, August Energeia will finance, implement and manage infrastructure, with project economics linked to energy savings and performance delivered.
Kalpa Power secures 286 MWp solar project in Madhya Pradesh
Kalpa Power Private Limited has secured a 286 MWp utility-scale solar project in Madhya Pradesh, adding to its portfolio of large-scale renewable energy projects in India. Madhya Pradesh’s renewable energy capacity has increased nearly 25-fold over the past 12 years, from 438 MW to over 11,000 MW. In July, Kalpa Power signed a memorandum of understanding (MoU) with Lineage Power Private Limited (LPPL), a subsidiary of Pace Digitek Limited, to secure 100 MWh of Battery Energy Storage System (BESS) capacity. The company is targeting an expansion of its overall renewable energy portfolio to 5 GW by 2030.
GK Energy bags Rs 454.5 crore rooftop solar order
GK Energy Limited has received a Letter of Empanelment (LOE) from a leading state government-owned power distribution utility for the execution of grid-connected rooftop solar photovoltaic projects. The company has been allocated 100,000 projects of 1 kW each, with a combined capacity of 100 MW, to be installed across 100,000 households. The projects will be executed at a contract rate of Rs 45,450 per kW, including GST, giving the aggregate contract a value of approximately Rs 454.50 crore. GK Energy will undertake design, engineering, supply, installation, testing and commissioning, along with operation and maintenance for five years.
Juniper Green reports record Rs 324 crore quarterly income
Juniper Green Energy Limited reported its highest-ever quarterly total income of Rs 324 crore for the quarter ended June 30, 2026, up 79% year-on-year, following its largest quarterly renewable capacity addition of 601 MWp. The company commissioned 458 MWp of solar and 143 MW of wind capacity during Q1 FY27, along with approximately 400 MWh of Battery Energy Storage System (BESS) capacity. EBITDA rose 86% year-on-year to Rs 294 crore, while Profit After Tax (PAT) increased 54% to Rs 33 crore. As of the announcement date, Juniper Green Energy’s total portfolio stood at 11,216 MWp of renewable energy capacity and 8,989 MWh of BESS capacity.
MPERC issues SOP for renewable energy banking under GEOA
The Madhya Pradesh Electricity Regulatory Commission (MPERC) has issued a Standard Operating Procedure (SOP) for banking of surplus renewable energy by Green Energy Open Access (GEOA) consumers in Madhya Pradesh, effective August 17, 2026. The SOP introduces a three-month banking cycle, under which energy banked during month n can be utilised during the immediately succeeding two months, n+1 and n+2. Banking is capped at 30% of a consumer’s monthly Discom consumption, while an in-kind banking charge of 8% is deducted from surplus energy at the time of banking. Banking and drawal will be accounted for in 15-minute time blocks, with unused energy normally lapsing after the applicable banking period.
ACME Solar secures Rs 1,571 crore IIFCL funding for 300 MW project
ACME Solar Holdings Ltd (ACME Solar) has secured Rs 1,571 crore of long-term project financing from India Infrastructure Finance Company Ltd (IIFCL) for its ACME Renewtech Sixth 300 MW assured peak power project in Rajasthan. IIFCL is the sole lender, with the facility carrying a repayment tenor of 19 years and marking IIFCL’s first sole greenfield financing for ACME Solar. The project has a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI Limited) at a tariff of Rs 6.28/unit. It will integrate 1,350 MWh of BESS alongside solar generation to meet the PPA’s assured peak power supply obligations.
GE Vernova unveils SF6-free circuit breaker for high-voltage grids
GE Vernova Inc. has launched a 420 kV, 63 kA CO₂-O₂ Live Tank Circuit Breaker, GL316c, at CIGRE Paris 2026. The circuit breaker uses a carbon dioxide and oxygen (CO₂/O₂) mixture instead of sulfur hexafluoride (SF₆) as the insulating and interrupting medium. It is designed for transmission applications requiring a voltage rating of 420 kV and short-circuit breaking capability of up to 63 kA. The 420 kV, 63 kA circuit breaker is planned to be manufactured at GE Vernova’s facility in Villeurbanne, France.
Hindalco’s India-first alumina plant to make cables safer
Hindalco Industries Limited has commissioned a greenfield Superfine Precipitated Aluminium Trihydrate (PPT ATH) manufacturing plant in Belagavi, Karnataka, marking the first domestic production of the specialty alumina product in India. The facility has an annual production capacity of 30,000 tonnes, with the capability to expand to 60,000 tonnes in phases. Phase 1 is designed to meet almost the entire domestic demand for PPT ATH used in Halogen-Free Flame Retardant (HFFR) cables by the wire and cable industry. The plant is described as the world’s only specialty alumina facility operating entirely on renewable energy, sourced from biomass, solar and wind.
Skipper secures Rs 1,305 crore transmission and distribution orders
Skipper Limited has secured fresh orders worth Rs 1,305 crore for power transmission and distribution projects across domestic and international markets. The orders include transmission towers and monopoles for transmission and distribution (T&D) projects in North America, along with two 765 kV transmission line projects from a domestic developer. The company manufactures power transmission and distribution structures and undertakes Engineering, Procurement and Construction (EPC) projects involving 765 kV transmission lines and substations. Skipper reported consolidated revenue of Rs 13,098 million for the quarter ended June 30, 2026, its highest-ever first-quarter revenue, with EBITDA of Rs 1,401 million and Profit After Tax (PAT) of Rs 565 million.