PFC and REC boards approve merger proposal for presidential clearance Power Finance Corporation Limited (PFC) and REC Limited have approved a proposal for the merger of REC into PFC, subject to approval from the Hon’ble President of India. The merger will be carried out under Sections 230 to 232 of the Companies Act, 2013, with…
Cabinet approves Rs 37,500 crore coal gasification scheme The Union Cabinet has approved a Scheme for Promotion of Surface Coal/Lignite Gasification Projects with a financial outlay of Rs 37,500 crore to support India’s target of gasifying 100 Million Tonnes (MT) of coal by 2030. The scheme targets gasification of around 75 million tonnes of coal…
NLC India posts record FY2025-26 profit, generation and capex NLC India Limited reported its highest-ever production, power generation and financial performance during FY2025-26. Consolidated PAT rose 38.91% year-on-year to Rs 3,769 crore, while revenue increased 14.44% to Rs 17,490 crore and EBITDA grew 14.78% to Rs 7,475 crore. Coal production reached 19.14 million tonnes and…
CleanMax reports record FY2025-26 EBITDA as RE portfolio expands Clean Max Enviro Energy Solutions Limited reported its highest-ever consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for FY2025-26, supported by growth in its operational renewable energy (RE) portfolio and increasing demand from the data and artificial intelligence (AI) sector. Operational RE power sales capacity…
ACME Solar commissions additional BESS capacity in Rajasthan ACME Solar Holdings Limited has commissioned additional Battery Energy Storage System (BESS) capacity at two projects in Rajasthan through its wholly owned subsidiaries. Both milestones were achieved on May 11, 2026, with commercial operations scheduled to begin from May 13, 2026. ACME Sun Power Private Limited commissioned…
Supreme Court rules Railways liable to pay open access surcharges The Supreme Court of India has dismissed Indian Railways’ appeal and upheld the Appellate Tribunal for Electricity (APTEL) ruling that the national transporter is not a deemed distribution licensee under the Electricity Act, 2003. The Court held that Indian Railways remains liable to pay Cross-Subsidy…
MNRE issues solar module warranty SOP for PM Surya Ghar, PM KUSUM The Ministry of New and Renewable Energy (MNRE) has issued a Standard Operating Procedure (SOP) for warranty management and claims settlement of solar photovoltaic (PV) modules installed under distributed renewable energy programmes, including PM Surya Ghar: Muft Bijli Yojana and PM KUSUM. The…
CERC proposes capacity market framework to ensure resource adequacy The Central Electricity Regulatory Commission (CERC) has released a staff paper proposing a capacity market framework for India’s electricity sector to ensure resource adequacy, improve availability during system stress, and shift dispatch and pricing towards market-based mechanisms. The paper outlines three market design options, including a…
Bhutan, World Bank sign $515 million deal for Dorjilung hydro project The Royal Government of Bhutan and the World Bank have signed financing agreements worth $515 million for the 1,125 MW Dorjilung Hydroelectric Power Project on the Kurichhu River. The project, with an estimated total cost of $1.7 billion, will be Bhutan’s largest hydropower project…
ADB launches $70 billion grid and digital connectivity plan Asian Development Bank (ADB) has launched energy and digital infrastructure initiatives worth $70 billion to be implemented by 2035. The programme allocates $50 billion for the Pan-Asia Power Grid and $20 billion for the Asia-Pacific Digital Highway. It targets integration of about 20 GW of renewable…