Maharashtra clears Rs 12,303 crore MAGESTIC clean energy programme The Maharashtra government has approved a Rs 12,303 crore programme to expand renewable energy and grid infrastructure. The MAGESTIC initiative targets increasing renewable energy share from 17% to 50% by 2030 and includes 40 new substations, transmission upgrades, and high-efficiency conductors. It plans 16,000 MWh of…
Waaree Energies FY26 profit doubles; plans Rs 10,000 crore raise Waaree Energies Limited reported consolidated revenue from operations of Rs 26,536.77 Crores for FY26, up 83.72%, with Profit After Tax rising 101.45% to Rs 3,884.15 Crores. Operating EBITDA increased 117.10% to Rs 5,908.64 Crores, while Q4 revenue stood at Rs 8,480.25 Crores with PAT of…
REC reports highest-ever annual profit of Rs 16,282 crore REC Limited reported its highest-ever standalone net profit of Rs 16,282 crore for the financial year ended March 31, 2026, up from Rs 15,713 crore in FY25. The loan book reached Rs 5.84 lakh crore, with the renewable energy portfolio growing 30% year-on-year to Rs 75,347…
PSPCL awards 500 MW solar capacity in national auction Punjab State Power Corporation Limited (PSPCL) has announced the outcome of its auction to procure 500 MW of solar power on a long-term basis. SAEL Industries secured 250 MW at Rs 3.05 per kWh. Waaree Forever Energies and JLTM Energy India were awarded 100 MW and…
India demand crosses 250 GW, solar anchors heatwave response India’s national power demand crossed 250 GW for the first time this year on April 24, 2026, reaching 2,51,771 MW at 15:45 hrs, and rose further to around 256.1 GW on April 25. Solar generation reached 81,539 MW at 12:15 hrs on April 24, accounting for…
IEX FY26 profit rises 14.9% as volumes hit record 141.1 BU Indian Energy Exchange reported audited results for the quarter and year ended March 31, 2026, with record electricity traded volumes and double-digit growth in profitability. For FY26, consolidated Profit After Tax (PAT) rose 14.9% year-on-year to Rs 492.9 crore from Rs 429.2 crore in…
Evren secures $600 million for 1 GW FDRE hybrid projects Evren, a platform launched by Brookfield in India as a joint venture with Axis Energy, has secured approximately $600 million to develop its Firm and Dispatchable Renewable Energy (FDRE) hybrid project in Andhra Pradesh and Rajasthan. The 1 GW project combines solar, wind, and battery…
ISTS waiver extended for RE projects delayed by transmission gaps The Ministry of Power issued an Office Memorandum on April 16, 2026, clarifying eligibility for graded waiver of Inter-State Transmission System (ISTS) charges for renewable energy projects delayed due to transmission infrastructure gaps. Projects with a firm start date of connectivity between July 1, 2025…
India power capacity reaches 532.74 GW; non-fossil share at 53.21% India’s total installed power generation capacity stood at 532,740 MW as of March 31, 2026, according to the Central Electricity Authority. Non-fossil sources accounted for 283,468 MW (53.21%), while fossil fuel-based capacity stood at 249,272 MW (46.79%). Coal remained the largest source at 221,940 MW…
CCI dismisses complaint over SECI solar tender The Competition Commission of India (CCI) has closed proceedings against Adani Green Energy, Azure Power, and SECI over alleged anti-competitive practices linked to the 7 GW solar manufacturing-linked tender. In its order dated April 16, 2026, the Commission said it found no prima facie evidence of contravention under…