Power Sector News Roundup for April 8, 2026

Maharashtra clears MSEDCL split, Mahavitaran IPO plan

The Maharashtra cabinet has approved the restructuring of Maharashtra State Electricity Distribution Company Limited (MSEDCL), enabling its bifurcation and a planned stock market listing. The utility will be split into Mahavitaran for non-agricultural consumers and MSEB Solar Agro Power Limited (MSAPL) for agricultural supply, with Rs 2,500 crore earmarked for solar-based infrastructure. An IPO of Mahavitaran’s non-agricultural business is expected within six to nine months, subject to regulatory approvals. MSEDCL’s debt stands at about Rs 90,000 crore, with restructuring aimed at isolating agricultural liabilities and improving financial viability.

MNRE designates SECI as sole intermediary for new RE bids

The Ministry of New and Renewable Energy (MNRE) has directed that only Solar Energy Corporation of India (SECI) will act as the renewable energy implementing agency for issuing new procurement bids. The directive, issued on April 6, 2026, follows a review of pending PSAs and PPAs across agencies. MNRE has asked NTPC, NHPC, SJVN, and SECI to classify delayed PSA cases and take action, including phased cancellation of LoAs where required. The ministry has also discouraged post-tender tariff negotiations and required demand assessment and advance procurement commitments before new bid issuance.

Debt markets reshape India’s energy transition: IEEFA report

A report by the Institute for Energy Economics and Financial Analysis (IEEFA) states that India’s energy transition is increasingly driven by debt markets, with renewable platforms showing stronger margins than thermal peers. The study assesses eight major generators accounting for about one-third of installed capacity and finds renewable assets benefit from the absence of fuel costs. However, seven of the eight companies reported negative free cash flow in FY2025, with leverage expected to rise due to ongoing capital expenditure. The report identifies NTPC as a key player in transition financing, supported by a planned INR 7 trillion capex through FY2032.

Solar plus storage can meet 90% of India’s demand at Rs 5.06/kWh: Ember

Solar combined with battery storage can meet up to 90% of India’s electricity demand at a levelised cost of Rs 5.06 per kWh, according to an Ember analysis published on April 7, 2026. The model requires 930 GW of solar and 2,560 GWh of battery storage, with around 5% curtailment of annual generation. Costs have declined significantly, with battery prices falling 40% in 2024 and 31% in 2025. State-level analysis shows demand coverage ranging from 83% to 92%, with Uttar Pradesh at the lower end due to monsoon-driven demand patterns.

CCI clears Torrent Power’s acquisition of Nabha Power

The Competition Commission of India has approved Torrent Power Limited’s acquisition of 100% equity and preference shares in Nabha Power Limited from L&T Power Development Limited. The deal, valued at Rs 6,889 crore, includes Rs 3,660.87 crore for equity and convertible instruments and is expected to close by June 30, 2026. Nabha Power operates a 2×700 MW thermal plant in Punjab. The acquisition will increase Torrent Power’s generation capacity from around 5 GW to 6.4 GW and mark its entry into northern India.

MNRE eases rooftop solar submission rules under PM Surya Ghar scheme

MNRE has allowed residential consumers to submit rooftop solar installations on the national portal without a Domestic Content Requirement (DCR) certificate if they opt out of central financial assistance under the “Give It Up” option. The change was issued through an office memorandum dated March 30, 2026. Over 27 lakh installations have been completed under the scheme against a target of 1 crore. Once submitted without a DCR certificate, the “Give It Up” option cannot be reversed.

Jakson Green signs SECI pact for 85,000 tpa green ammonia supply

Jakson Green Ltd’s consortium partner Ocior Energy has signed a long-term agreement with SECI to supply 85,000 MTPA of green ammonia. The capacity was secured under SECI’s sixth auction at a tariff of Rs 50.75 per kg under the SIGHT Scheme. The supply will be delivered to Coromandel International Ltd’s Kakinada facility, with commercial operations starting in 2029. The agreement is valued at about $465 million over its tenure.

CleanMax commissions 185 MW hybrid project in Gujarat

Clean Max Enviro Energy Solutions Limited has commissioned a 185 MW wind-solar hybrid project in Kalavad, Gujarat, taking its total state capacity to around 844 MW. The project supplies power to 17 corporate customers under a group captive model and is expected to generate over Rs 165 crore annually from FY2027. It is backed by 25-year fixed-tariff PPAs and is projected to offset about 3.61 lakh tonnes of CO₂ emissions annually. The company’s total operational capacity stands at 3.1 GW as of March 31, 2026.

Om Power Transmission plans Rs 150 crore IPO

Om Power Transmission plans to raise Rs 150 crore through an IPO comprising 85.75 lakh equity shares, priced between Rs 166 and Rs 175 per share. The issue includes a fresh issue of 75.75 lakh shares and an OFS of up to 10 lakh shares. Proceeds will be used for machinery purchase, debt repayment, working capital, and general corporate purposes. The company operates across transmission lines, substations, underground cabling, and O&M services.

Prostarm, Topband sign MoU to assemble BESS in India

Prostarm Info Systems Limited has signed an MoU with Shenzhen Topband Co. Ltd. to explore BESS manufacturing in India under a semi-knocked down model. Topband will supply kits and technical know-how, while Prostarm will handle assembly and integration. The collaboration targets C&I, residential, and utility-scale applications. For the nine months ended December 31, 2025, Prostarm reported turnover of Rs 27,863.22 lakhs, while Topband reported CNY 110,822,09,740 for 2025.

REC appoints Rajiv Ranjan Jha as PFC nominee director

REC Limited has appointed Rajiv Ranjan Jha as Nominee Director of Power Finance Corporation Limited on its Board, effective April 6, 2026. The appointment follows an order from the Ministry of Power under the Share Purchase Agreement dated March 20, 2019. Jha is currently Director (Projects) at PFC and has nearly three decades of experience within the organisation. He holds a Mechanical Engineering degree from NIT Jamshedpur and a management diploma from IGNOU.