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PFC and REC form new SPVs for interstate transmission projects
Power Finance Corporation Ltd. (PFC) and REC Limited have announced the formation of new special purpose vehicles (SPVs) to advance key interstate power transmission projects. PFC Consulting Limited (PFCCL), a wholly owned subsidiary of PFC, has incorporated Alibag Power Transmission Limited to manage preliminary work for the “Establishment of 765/400/220 kV AIS Dolvi (Dist. Raigad)” transmission project in Maharashtra. The SPV’s creation follows a Letter of Intent from Maharashtra State Electricity Transmission Company Limited (MSETCL),…
Jakson Group to invest Rs 1 billion in distributed energy by FY26
Jakson Group will invest Rs 1 billion in its distributed energy business by 2025-26 to expand capacity and meet rising demand for backup and sustainable power. The company, which earns most of its revenue from diesel generators, is diversifying into solar, energy storage, and other green solutions. It aims to scale its business to Rs 50 billion in the near term and reach USD 1 billion revenue by 2030. Solar and storage will be the…
Waaree Energies posts record Q3 FY26 results
Waaree Energies Limited has reported record quarterly financial results for Q3 FY26, with standalone revenue and profit more than doubling year-on-year. For the quarter ended 31 December 2025, the company reported standalone revenue from operations of Rs 7,565.05 crores, up 118.81% compared to the same period last year. Standalone Profit After Tax (PAT) increased 118.35% to Rs 1,106.79 crores. During the quarter, Waaree manufactured 3.51 GW of solar modules and 0.75 GW of solar cells….
JSW, Tata Power, Avaada, Juniper win MSEDCL’s 1,650 MW wind-solar auction
Maharashtra State Electricity Distribution Company (MSEDCL) has selected JSW Neo Energy, Tata Power Renewable Energy Limited (TPREL), Avaada Energy, and Juniper Green Energy as the winners of its 1,650 MW wind-solar hybrid auction. These companies will supply power on a long-term basis from grid-connected intrastate projects. JSW Neo secured 600 MW, including 400 MW under the greenshoe option, while Tata Power won 400 MW, with 200 MW under the greenshoe option. Avaada Energy was awarded…
Greenzo Energy secures EPC contract for 120 MW solar project in Nepal
Greenzo Energy, a comprehensive green hydrogen and renewable energy solutions provider, has won an engineering, procurement, and construction (EPC) contract for a 120 MW ground-mounted solar project in Nepal. Valued at Rs 5 billion, this contract boosts Greenzo’s order book to Rs 19 billion. Scheduled for phased completion by 2025, the project will consist of 12 clusters, each with a 10 MW solar installation. The project includes an advanced high-tension transmission line connecting directly to…
CIL solar capex rises to Rs 961 crore by January 2026
Coal India Limited (CIL) has reported capital expenditure of Rs 961 crore on solar energy projects as of January 2026, marking a 2.33 times increase over the corresponding period last year. The company achieved 132% of its progressive target of Rs 729 crore for the period and exceeded its full-year solar capex target of Rs 957 crore for FY 2026. According to the company’s latest filing with stock exchanges, the solar sector expenditure reflects CIL’s…
