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India | Finance | News

Coal India subsidiary CMPDIL files RHP for IPO
By March 16, 2026March 16, 2026

Coal India Limited (CIL) has informed stock exchanges that Central Mine Planning and Design Institute Limited (CMPDIL), its wholly owned subsidiary, filed a Red Herring Prospectus (RHP) dated March 12, 2026 with the Securities and Exchange Board of India (SEBI), BSE Limited (BSE), and the National Stock Exchange of India Limited (NSE) for a proposed initial public offering (IPO). The proposed IPO is structured entirely as an offer for sale (OFS) of up to 10.71…

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India | News | Renewable Energy

Mahindra Susten achieves financial closure for 300 MW Rajasthan hybrid project
By March 13, 2026March 13, 2026

Mahindra Susten Private Limited has achieved financial closure for its Hazel Hybren renewable energy project in Rajasthan. The project has a capacity of 300 MW alternating current (AC), equivalent to 420 MWp, with HDFC Bank Limited acting as the sole lender under a binding agreement executed on February 27, 2026. The structured project financing amounts to Rs 1,025 crore. NHPC Limited has been designated as the off-taker for the project. The Hazel Hybren project forms…

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India | News | Renewable Energy

DGTR recommends five-year extension of duty on Malaysian solar glass
By March 13, 2026March 13, 2026

The Directorate General of Trade Remedies (DGTR) has recommended extending countervailing duties (CVD) on solar glass imports from Malaysia for another five years, stating that Malaysian producers continue to receive government subsidies and that removing the duty could lead to renewed injurious imports. The review followed a sunset review (SSR) application filed by Borosil Renewables Limited (BRL) and Vishakha Glass Private Limited (VGPL). The original duties were imposed in March 2021 after an anti-subsidy investigation…

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India | Electric Mobility | News

Ashok Leyland begins construction of EV battery pack plant near Chennai
By March 13, 2026March 13, 2026

Ashok Leyland Limited has started construction of a greenfield battery pack manufacturing facility at Pillaipakkam near Chennai. The project involves an investment of Rs 400–500 crore and forms part of the commitments made under a memorandum of understanding (MoU) signed between the Hinduja Group and the Government of Tamil Nadu in September 2025. The facility is aimed at localising electric vehicle (EV) battery pack production and strengthening the EV supply chain in India, while also…

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India | News | Renewable Energy

Bessco Power and Renergo form JV for 1,000 MW renewable projects
By March 13, 2026March 13, 2026

Bessco Power Private Limited and Renergo Developers have formed a joint venture to develop 1,000 MW of renewable energy projects across India and Nepal over the next 18 to 24 months. The partnership will primarily focus on utility-scale solar power while also exploring opportunities in green fuels and bioenergy. The companies plan to jointly develop large-scale solar projects as the core of the initiative. In addition, they are evaluating opportunities in compressed biogas (CBG), green…

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India | News | T&D

PFC subsidiary for 4,000 MW Odisha project struck off
By March 13, 2026March 13, 2026

Sakhigopal Integrated Power Company Limited (SIPCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has been struck off by the Registrar of Companies with effect from March 9, 2026, under Section 248 of the Companies Act, 2013. SIPCL was incorporated in May 2008 as a Special Purpose Vehicle (SPV) to develop a 4,000 MW Ultra Mega Power Project in Odisha. The project was later shelved and the company remained inactive. The Ministry of…

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India | News | Renewable Energy

ACME Solar commissions second phase of Rajasthan BESS project
By March 13, 2026March 13, 2026

ACME Solar Holdings Limited (ASHL) has commissioned the second phase of its Battery Energy Storage System (BESS) project in Rajasthan through its wholly owned subsidiary, ACME Sun Power Private Limited. The newly commissioned phase adds 33.335 MW / 160.51 MWh of storage capacity and achieved Commercial Operation Date (COD) on March 14, 2026. The second phase follows the commissioning of the project’s first phase on March 8, 2026. The project is located at Village Badi…

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India | News | T&D

POWERGRID and Montecarlo acquire transmission SPVs in Maharashtra
By March 13, 2026March 13, 2026

Power Grid Corporation of India Limited (POWERGRID) and Montecarlo Limited acquired two transmission Special Purpose Vehicles (SPVs) in Maharashtra on March 12, 2026. The transfers were completed by PFC Consulting Limited (PFCCL) under the Tariff-Based Competitive Bidding (TBCB) process. POWERGRID acquired NES Pune East New Transmission Limited (NPENTL), the SPV established to address transmission constraints in Pune Region-I. The project includes a new 765/400 kV Air Insulated Switchgear (AIS) substation in Ahilyanagar District, along with…

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India | News | Renewable Energy

KPI Green Energy expands IPP capacity to 589 MWp
By March 13, 2026March 13, 2026

KPI Green Energy Limited has energised an additional 35 MWp of solar capacity, raising its operational Independent Power Producer (IPP) capacity to 589 MWp. The company stated that it is progressing toward commissioning another 1,582 MWp, which would increase its total IPP portfolio to 2.17 GWp. In January 2026, KPI Green commissioned its 200 MW / 240 MWp solar IPP project at Khavda Solar Park (South Block). The project was among the first to become…

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India | News | Renewable Energy

ACME Solar signs 450 MW FDRE power purchase agreements with SJVN
By March 13, 2026March 13, 2026

ACME Solar Holdings Limited (ASHL) has signed two Power Purchase Agreements (PPAs) through its subsidiary, ACME Greentech Seventh Private Limited, with SJVN Limited for a total capacity of 450 MW / 1,800 MWh. The agreements were executed on March 2, 2026, and will remain valid for 25 years. The PPAs arise from the Tranche-FDRE-4 tender issued under Tariff-Based Competitive Bidding (TBCB) guidelines. An e-reverse auction for the tender took place on October 9, 2025. Following…

Read More ACME Solar signs 450 MW FDRE power purchase agreements with SJVN