Power Sector News Roundup for April 29, 2026
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 crore. Net Stage-3 loans declined to 0.12% from 0.38%, while the Capital Adequacy Ratio stood at 23.11%. Total dividend for FY26 stands at Rs 18.55 per share, the highest declared by the company.
Bikaner-V transmission plan faces uncertainty amid developer pushback
The proposed 6 GW Bikaner-V transmission scheme faces uncertainty after developers rejected a proposal to shift connectivity to existing substations with limited access. The Central Electricity Authority informed the National Committee on Transmission that no consensus was reached. The Ministry of New and Renewable Energy opposed the move, citing requirements for continuous evacuation under RTC and hybrid projects. The scheme will now be restructured into separate components, with further consultations planned.
NCLT approves Inox Green demerger of power evacuation business
National Company Law Tribunal approved the demerger of the Power Evacuation Business of Inox Green Energy Services Limited into Inox Renewable Solutions Limited. The scheme separates O&M services from EPC and evacuation activities, with an appointed date of October 1, 2024. Shareholders will receive 122 equity shares of Inox Renewable Solutions for every 1,000 shares held. The tribunal found the arrangement fair, with no objections from statutory authorities.
Emmvee reports strong FY26 growth on higher solar output
Emmvee Photovoltaic Power Limited reported FY26 revenue of Rs 5,050 crore, up 116% year-on-year, with PAT rising 193% to Rs 1,081.6 crore. Installed capacity reached 10.3 GW for modules and 2.94 GW for cells. The company plans a 6 GW integrated facility, targeting 16.3 GW module capacity by FY28. A term loan of Rs 3,306 crore has been sanctioned by Indian Renewable Energy Development Agency.
Skipper reports record FY26 revenue and profit growth
Skipper Limited reported FY26 revenue of Rs 55,528 million and PAT of Rs 2,073 million. The order book stood at Rs 85,020 million, with strong domestic demand. The company commissioned four 765 kV projects covering 940 circuit kilometres. Expansion plans include international subsidiaries and capacity increase to 450,000 MTPA by June 2026.
Bondada Engineering reports strong FY26 growth on EPC execution
Bondada Engineering Limited reported FY26 revenue of Rs 28,428.1 million, up 81.0%, with PAT rising 86.5% to Rs 2,110.8 million. The order book stood at around Rs 71,475 million across solar, BESS, telecom, and rail segments. The company commissioned 492 MWp of solar capacity during the year. It is executing 850 MWh of BESS projects under the BOO model.
Websol Energy posts strong FY26 growth on higher solar output
Websol Energy System Limited reported FY26 revenue of Rs 1,049 crore, up 82.4%, with PAT rising 95.8% to Rs 303 crore. Cell capacity utilisation remained above 90%, with expansion to 1.35 GW underway through TOPCon upgrades. The order book stood at Rs 1,161 crore. The company reported a net cash surplus with Rs 152 crore in cash.
Enviro Infra Engineers enters wind segment with Suyog Urja buy
Enviro Infra Engineers Limited will acquire 100% of Suyog Urja Limited through its subsidiary. Suyog Urja has an order book of Rs 645 crore and has completed over 500 MW of projects. The acquisition will be completed in phases within 27 months. The company aims to expand its renewable portfolio and geographic presence.
Advait Energy sets up three subsidiaries to expand clean energy portfolio
Advait Energy Transitions Limited incorporated three subsidiaries focused on BESS, carbon markets, and renewable assets. The company holds an 80% stake in each entity. All subsidiaries are registered in Ahmedabad, Gujarat. The move supports expansion across storage, sustainability services, and power generation.
Vikran Engineering acquires 49% stake in NOPL Solar Projects
Vikran Engineering Limited will acquire a 49% stake in NOPL Solar Projects Private Limited for Rs 4.9 crore. The target company is linked to a 969 MW (AC) project under PM-KUSUM in Maharashtra. The deal supports diversification into solar infrastructure. The company aims to expand its renewable energy presence.
Waa Solar commissions 6 MW under PM-KUSUM feeder scheme
Waa Solar Limited commissioned 6,000 KW (AC) under the PM-KUSUM feeder scheme. Total commissioned capacity under the scheme has reached 42 MW. The company also signed PPAs for 48.15 MW with tariffs between Rs 2.73 and Rs 2.75 per unit. The projects support feeder-level solarisation initiatives.
Sunora Solar, Bharat Enterprise partner for 30 MW PM Kusum project in Hyderabad
Sunora Solar signed a long-term supply agreement with Bharat Enterprise for a 30 MW PM Kusum project. The project involves an investment of over Rs 100 crore. Modules will use TOPCon G12R technology with efficiency above 23%. The project targets commissioning within this year.
Google breaks ground on AI hub in Visakhapatnam
Google began construction of a gigawatt-scale AI hub in Visakhapatnam with AdaniConneX and Nxtra by Airtel. The project is part of a $15 billion investment plan for 2026–2030. It includes three data centre campuses supported by clean energy integration. The facility is expected to support digital infrastructure and contribute to India’s 500 GW non-fossil target.