Power Sector News Roundup for August 10, 2026
Waaree Energies expands into smart meters, green hydrogen and clean mobility
Waaree Energies Limited is expanding into smart metering, green hydrogen and clean mobility as part of its broader move into adjacent energy businesses. Its step-down subsidiary Waaree Smart Meters Private Limited has acquired a 24.21% stake in Eppeltone Engineers Limited for approximately Rs 21.78 crore through an off-market transaction. Eppeltone Engineers manufactures electronic energy meters, including smart meters, and power conditioning devices, with turnover increasing to Rs 134.74 crore in FY 2025-26 from Rs 124.33 crore in FY 2024-25 and Rs 78.45 crore in FY 2023-24. Waaree Clean Energy Solutions Private Limited has also incorporated three wholly-owned step-down subsidiaries focused on green hydrogen, green ammonia and clean-fuel mobility.
Inox Wind Q1 FY27 profit falls 34%; order book expands to 4.4 GW
Inox Wind Limited (IWL) reported a 1.44% year-on-year decline in revenue from operations to Rs 814.1 crore for the quarter ended June 30, 2026, while profit after tax (PAT) decreased 34.02% to Rs 64 crore. Its order book stood at 4.4 GW as of July 2026, covering independent power producers (IPPs), public sector undertakings (PSUs), commercial and industrial (C&I) customers, and the retail segment. During Q1 FY27, 9.34 GW of renewable energy capacity was awarded through competitive bidding, including 2.35 GW of wind, 1.20 GW of Firm and Dispatchable Renewable Energy (FDRE), 1 GW of hybrid, 1.34 GW of solar and 3.45 GW of solar-plus-storage projects. The company reiterated its FY27 guidance of around 75% revenue growth over FY26 and an EBITDA margin of 20-22%.
GK Energy posts 56% rise in Q1 FY27 revenue, EPC business drives growth
GK Energy Limited reported a 55.5% year-on-year increase in consolidated revenue from operations to Rs 505.19 crore for the quarter ended June 30, 2026. Profit before tax (PBT) grew nearly 59% year-on-year to Rs 80.26 crore, while profit after tax (PAT) increased to Rs 59.65 crore from Rs 37.31 crore in the corresponding quarter last year. The entire operating revenue during the quarter came from its engineering, procurement and construction (EPC) business, while the trading segment did not record any revenue. Total assets increased to Rs 1,495.76 crore as of June 30, 2026, compared with Rs 1,305.27 crore at the end of March.
Powerica posts 27% rise in Q1 FY27 profit; wind business margins improve
Powerica Limited reported a 26.7% year-on-year increase in consolidated revenue from operations to Rs 780.1 crore for the quarter ended June 30, 2026, while profit after tax (PAT) rose 27.3% to Rs 64.3 crore. EBITDA increased 20.4% to Rs 106.3 crore, with an EBITDA margin of 13.6%. The wind power business contributed 18.6% of revenue and reported an EBITDA margin of 48.6%, compared with 46.5% in the corresponding quarter last year. Powerica also signed a Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 100 MW wind project in Gujarat at a tariff of Rs 3.435 per kWh for 25 years and received a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI) for a 100 MW wind project at a tariff of Rs 3.85 per kWh.
NLC India reports 15% growth in Q1 FY27 standalone revenue
NLC India Limited reported a 15.07% year-on-year increase in standalone revenue from operations to Rs 2,871.73 crore for the quarter ended June 30, 2026. Standalone EBITDA increased 1.13% year-on-year to Rs 1,013.13 crore, while Profit Before Tax (PBT) rose 3.76% to Rs 548.67 crore. Coal production grew 7.84% to 40.85 lakh tonnes, and thermal power gross generation increased 8.27% to 4,318.85 million units. On a consolidated basis, group revenue rose 23.29% to Rs 4,716.75 crore and gross power generation increased 25% year-on-year to 8,262.06 million units.
Bajel Projects reports 37% rise in Q1 FY27 standalone profit
Bajel Projects Limited reported a 37.2% year-on-year increase in standalone profit after tax (PAT) to Rs 4.5 crore for the quarter ended June 30, 2026. Standalone revenue from operations declined to Rs 566.9 crore from Rs 607.6 crore in the corresponding quarter last year, while Profit Before Tax (PBT) rose 54.7% to Rs 6.9 crore. Consolidated PBT increased 72.8% year-on-year to Rs 7.1 crore, while PAT rose 60.1% to Rs 4.7 crore. The company’s unexecuted order book stood at Rs 4,055 crore at the end of the quarter, the highest since its demerger from Bajaj Electricals in 2023.
Hitachi Energy India Q1 profit more than doubles to Rs 294 crore
Hitachi Energy India Limited reported a 123.5% year-on-year increase in consolidated profit after tax (PAT) to Rs 294.2 crore for the quarter ended June 30, 2026. Revenue from operations rose 68.6% to Rs 2,493.7 crore, while operational EBITDA increased 135% to Rs 399.9 crore and its margin improved to 16.0% from 11.5% in Q1 FY26. Hitachi Energy secured its first Battery Energy Storage System (BESS) project, a 165 MW/330 MWh installation at Hebbatam, Andhra Pradesh, along with a 2 GW export order for wind power evacuation in Europe and an order for a 100 GW solar park in western India. The company is investing Rs 2,000 crore in a new large power transformer manufacturing facility at Karjan, Vadodara, targeted for completion by December 2028.
Oswal Pumps Q1 profit falls 71% as standalone revenue declines 22%
Oswal Pumps Limited reported a 70.7% year-on-year decline in standalone net profit to Rs 21.67 crore for the quarter ended June 30, 2026, while standalone revenue from operations declined 22.4% to Rs 344.13 crore. On a consolidated basis, net profit declined 43.1% to Rs 53.96 crore from Rs 94.68 crore, while revenue from operations fell 7.9% to Rs 473.56 crore. Oswal Pumps increased its holding in Walso Solar Solution Private Limited to 51% through a rights issue, making it a consolidated subsidiary from June 8, 2026. As of June 30, 2026, the company had utilised Rs 605.97 crore of its Rs 841.51 crore IPO proceeds, with the remaining Rs 235.55 crore temporarily placed in fixed deposits.
Coal India commissions 200 MW of Khavda solar project
Coal India Limited (CIL) has commenced commercial operations of 200 MW of solar power capacity from its 300 MW solar project at Khavda, Gujarat, with effect from 00:00 hours on August 8, 2026. The project forms part of CIL’s renewable energy expansion strategy and marks a milestone in its diversification beyond coal mining. The remaining capacity of the 300 MW project is expected to be commissioned subsequently. CIL reported a consolidated net profit of Rs 8,852.11 crore for the quarter, up 0.6% year-on-year, while consolidated revenue from operations increased 8% to Rs 46,254.80 crore.
Fujiyama commissions 2 GW power electronics plant in Ratlam
Fujiyama Power Systems Limited has commissioned a 2 GW power electronics manufacturing facility at Ratlam, Madhya Pradesh. The facility will manufacture solar inverters, UPS systems and other power electronics products used in rooftop solar systems. With the commissioning of the Ratlam facility, Fujiyama’s total power electronics manufacturing capacity has increased to 4.2 GW. Construction of a battery manufacturing facility at the Ratlam complex is also progressing as planned.
Odisha, Madhya Pradesh sign renewable energy cooperation pact
The governments of Odisha and Madhya Pradesh have signed a Memorandum of Understanding (MoU) to establish a framework for cooperation in renewable energy, energy storage, technology transfer and clean energy transition. The agreement covers collaboration in policy, research, grid integration and capacity building between the two states. The two states will jointly promote solar, wind and hybrid renewable energy projects while collaborating on energy storage, green hydrogen, research and innovation. The MoU was signed in New Delhi on the concluding day of the 7th CII International Energy Conference and Exhibition.
NTPC Green Energy wins 200 MW/800 MWh BESS project in West Bengal
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, has secured a 200 MW/800 MWh standalone Battery Energy Storage System (BESS) project in West Bengal. The company emerged as the successful bidder in the e-reverse auction concluded on August 7, 2026, with a discovered tariff of Rs 4.35 lakh per MW per month. The tender was floated by the West Bengal State Electricity Distribution Company Limited (WBSEDCL) for 500 MW/2,000 MWh of standalone BESS capacity across West Bengal. Under the award, NGEL will develop 200 MW/800 MWh of standalone energy storage capacity in the state.
AERB clears construction of spent fuel storage facility at Rawatbhata
The Atomic Energy Regulatory Board (AERB) has granted consent to the Nuclear Power Corporation of India Limited (NPCIL) for construction of Phase-1 of an Additional Away From Reactor (AAFR) spent fuel storage facility at the Rawatbhata Rajasthan site. The consent is valid until May 31, 2030 and covers wet storage for spent fuel bundles generated by the 220 MWe Pressurised Heavy Water Reactors (PHWRs) at the Rawatbhata Atomic Power Station (RAPS). The facility is intended to serve Units 2 to 6, while pre-excavation activities are already underway. AERB has attached conditions covering the single-failure-proof crane, post-excavation geotechnical investigations, security measures and compliance with applicable statutory clearances and safety requirements.
Bajel Projects wins 400 kV transmission line package in Jharkhand
Bajel Projects Limited has secured a transmission line package from Power Grid Corporation of India Limited (PGCIL), acting on behalf of its special purpose vehicle (SPV), WR ER Part A Power Transmission Limited. The project covers construction of a 400 kV transmission network in Jharkhand under the Western Region-Eastern Region Inter-Regional Network Expansion Scheme – Part A. The package includes the Loop-In Loop-Out (LILO) of the Ranchi (New)-New PPSP 400 kV double-circuit line at Jamshedpur (New), along with sections using Twin Moose and Twin High Temperature Low Sag (HTLS) conductors. Bajel Projects is required to complete the work within 27 months from the date of issuance of the Notification of Award.
Waaree Energies shifts focus to cell integration, U.S. manufacturing and storage
Waaree Energies Limited is accelerating its move towards a more integrated solar and energy storage manufacturing model, with captive cell production, U.S. manufacturing and battery storage emerging as key areas of focus in FY27. The company expects the proportion of modules using its own cells to increase from around 20% to approximately 65% over the next two to three quarters, while its existing 5.4 GW cell facility is being ramped towards quarterly production of 1.3-1.4 GW. Waaree’s 1.6 GW module facility in the U.S. is being ramped up, with utilisation expected to reach 75% to 80% in the coming quarters, while its automated BESS container production has started at 5.15 GWh. The group has also commissioned another 3 GW of module capacity at its Samakhiali plant in Gujarat and is constructing a 10 GW ingot and wafer facility in Nagpur, Maharashtra.
KEC International Q1 profit falls 42% as margins remain under pressure
KEC International Limited reported broadly stable consolidated revenue of Rs 5,024 crore for the quarter ended June 30, 2026, compared with Rs 5,023 crore in Q1 FY26. Consolidated profit after tax (PAT) fell to Rs 73 crore from Rs 125 crore, while EBITDA declined to Rs 291 crore from Rs 350 crore and the EBITDA margin narrowed to 5.8% from 7.0%. Consolidated net debt, including acceptances, declined by more than Rs 150 crore during the quarter to Rs 6,568 crore as of June 30, 2026, while net working capital improved to 134 days from 137 days. The company recorded year-to-date order intake of Rs 6,303 crore, with its combined order book and L1 position standing at more than Rs 40,000 crore.
HPL Electric posts 35% revenue growth in Q1 FY27 as consumer business expands
HPL Electric & Power Limited reported a 34.52% year-on-year increase in consolidated revenue from operations to Rs 515.24 crore for the quarter ended June 30, 2026. The Consumer & Industrial segment recorded its highest-ever quarterly revenue of Rs 277.59 crore, up 55% year-on-year, while the Metering, Systems & Services segment generated Rs 237.65 crore, up 16.53%. EBITDA increased 8.94% to Rs 63.18 crore, although the EBITDA margin declined to 12.26% from 15.14% a year earlier. The company’s order book stood at more than Rs 3,200 crore as of August 7, 2026, with the Metering, Systems & Services segment accounting for more than 96% of the order book.
Quality Power order book reaches Rs 1,945.5 crore in Q1 FY27
Quality Power Equipments Limited (QPE) closed Q1 FY27 with a consolidated order book of Rs 1,945.5 crore as of June 30, 2026, equivalent to around 1.9 times its consolidated revenue for FY26. QPE secured orders worth Rs 104.9 crore during the quarter, including Rs 48.3 crore of high voltage reactors for a data centre project in the United States, a Rs 40.9 crore order for FACTS systems and equipment in Japan, and Rs 15.7 crore of 400 kV instrument transformers from Hitachi Energy India Limited. Its proposed acquisition of Winwin Speciality Insulators Limited is progressing under a term sheet for acquisition of 100% of its equity at an enterprise value of approximately Rs 315 crore. The acquisition would add ceramic insulator manufacturing capability up to 1,200 kV and polymeric insulator manufacturing capability up to 400 kV.
Bajel Projects wins two transmission packages under WR-ER expansion scheme
Bajel Projects Limited has secured two transmission line packages from Power Grid Corporation of India Limited (PGCIL) under the Western Region-Eastern Region (WR-ER) Inter-Regional Network Expansion Scheme. The contracts cover 400 kV and 765 kV transmission lines and will strengthen power evacuation and grid connectivity between Chhattisgarh and Jharkhand. The first package, TL06, covers the Loop-In Loop-Out (LILO) of the Ranchi (New)-New PPSP 400 kV double-circuit line at Jamshedpur (New), while the second package, TL02, involves construction of the Raigarh (Tamnar)-Jamshedpur (New) 765 kV double-circuit transmission line, Part-II. Together, the projects will add transmission capacity along the Western Region-Eastern Region corridor and support greater power transfer between the two regions.
Om Power Transmission wins Rs 24 crore 66 kV cable contract in Gujarat
Om Power Transmission Limited has received a Letter of Intent from Gujarat Energy Transmission Corporation Limited (GETCO) for a Rs 24.03 crore contract, including GST, to develop a 66 kV underground cable system in Gujarat. The project covers an approximate route length of 5.17 km and includes the complete supply, laying, erection, testing and commissioning of the underground cable infrastructure. The contract is scheduled for completion within 12 months from the date of commencement. The order follows a Rs 82.17 crore turnkey contract received last month from Paschim Gujarat Vij Company Limited (PGVCL) for underground power distribution works in the state.
Waaree Renewable wins 124 MWp solar EPC order for FY27 execution
Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited, has received a Letter of Award (LoA) for the engineering, procurement and construction (EPC) of a 124 MWp (88 MWac) ground-mounted solar photovoltaic (PV) project. The project is scheduled for completion during FY 2026-27 and has been awarded by a domestic renewable energy solutions company. The company said the contract does not constitute a related-party transaction and that the promoter, promoter group and group companies have no interest in the awarding entity. The order follows a 210 MWp (150 MWac) turnkey EPC order secured last week from Solaris Horizon Energy Private Limited (SHEPL).
JSW Energy adds 1,166 MW renewable capacity since April
JSW Energy Limited has added 1,166 MW of renewable energy capacity since April 2026, taking its total installed generation capacity to 14,920 MW. Renewables now account for 60% of the company’s installed capacity, comprising 3,125 MW of wind, 2,360 MW of solar, 1,696 MW of hybrid and 1,781 MW of hydro capacity. Its locked-in generation capacity stands at 32.4 GW, including 14.9 GW already operational, 13.5 GW under construction and a further 4 GW pipeline. JSW Energy is targeting 30 GW of generation capacity and 40 GWh of energy storage capacity by 2030, along with carbon neutrality by 2050.
Patel Engineering Q1 profit rises 24% as order book reaches Rs 14,636 crore
Patel Engineering Limited reported a 24.49% year-on-year increase in consolidated net profit attributable to owners of the parent to Rs 93.48 crore for the quarter ended June 30, 2026. Consolidated revenue from operations increased 3.83% year-on-year to Rs 1,280.74 crore from Rs 1,233.45 crore in Q1 FY26, while operating EBITDA rose to Rs 179.60 crore with an EBITDA margin of 14.02%. Its order book stood at Rs 14,636 crore at the end of the quarter. During the quarter, operational capacity at the Subansiri Lower Hydropower Project reached 1,000 MW following commissioning of Unit 4, dam concrete works at the Kwar Hydropower Project crossed 50% completion, and construction commenced on the 1,125 MW Dorjilung Hydropower Project in Bhutan.