Power Sector News Roundup for December 22, 2025

India

Waaree Energies announces US polysilicon investment

Waaree Energies Limited informed stock exchanges that its wholly owned subsidiary Waaree Solar Americas Inc. has entered into a binding term sheet with United Solar Holding Inc. The agreement involves subscribing to approximately 5,368,551 Series B preferred shares for a total consideration of around USD 30,000,000. The transaction, executed on 18 December 2025, is aimed at strengthening Waaree’s long term and traceable polysilicon supply chain. The indicative completion date is 31 January 2026, subject to customary conditions precedent. Waaree Energies separately disclosed the incorporation of Hydro Bloom Energy Private Limited through its wholly owned subsidiary Waaree Forever Energies Private Limited.  

Tata Power raises Rs 2,000 crore via NCDs, launches energy research lab

Tata Power Company Limited allotted Rs 2,000 crore of unsecured, senior, redeemable, rated, listed, taxable non-convertible debentures on a private placement basis. The allotment was approved on 19 December 2025 following an electronic book building process conducted on 18 December 2025 on the BSE Limited platform. The issue comprises two series of 100,000 debentures each, with tenors of three years at 7.05 per cent and five years at 7.25 per cent. The debentures are proposed to be listed on the Wholesale Debt Market segment of BSE Limited. Tata Power also announced the launch of the Energy Insights and Innovation Lab at its Mumbai headquarters.  

REC incorporates three transmission SPVs, issues RFP for Sakoli project

REC Limited disclosed the incorporation of three special purpose vehicles through its subsidiary REC Power Development and Consultancy Limited. The entities will implement intra-state transmission projects in Dhule, Thane and Nashik districts of Maharashtra. Each SPV has an authorised and paid up capital of Rs 5,00,000. The incorporations follow a Government of Maharashtra order dated 03 October 2025. Additionally, RECPDCL has issued a request for proposal for the “Establishment of 400/220/132 kV AIS Sakoli” project in Bhandara district. The bid submission deadline is 17 February 2026.

POWERGRID approves merger of 13 wholly owned subsidiaries

Power Grid Corporation of India Limited approved the merger of 13 wholly owned subsidiary special purpose vehicles at its Board meeting on 20 December 2025. The restructuring will consolidate 11 subsidiaries into two entities, following in principle approval from the Central Electricity Regulatory Commission in May 2025. The merger is subject to approvals from the National Company Law Tribunal and the Ministry of Corporate Affairs. The appointed date for the merger is 01 April 2024.

GE Vernova T&D wins HVDC terminal contract for Khavda evacuation

GE Vernova T&D India Limited secured a contract from AESL Projects Limited for a 2,500 MW, ±500 kV HVDC VSC terminal station. The project will support renewable energy evacuation from the KPS 3 Khavda complex to South Olpad in Gujarat. The terminal will be configured as two parallel systems of 1,250 MW each. The contract will be executed over multiple years.

Emmvee commissions 2.5 GW solar module line in Bengaluru

Emmvee Photovoltaic Power Limited commenced commercial production at a new 2.5 GW solar module line on 20 December 2025. The facility is located at its subsidiary Emmvee Energy Private Limited’s Unit VI at Sulibele in Hoskote Taluk, Bengaluru. With this addition, the company’s total installed module manufacturing capacity has increased to 10.3 GW. The expansion forms part of the capacity plan disclosed during its initial public offer.

NHPC declares commercial operation of Unit 2 at Subansiri Lower project

NHPC Limited declared the commercial operation date of Unit 2 of the Subansiri Lower Hydroelectric Project as 23 December 2025. The 250 MW unit completed its trial run on 18 December 2025 and achieved grid synchronisation on 02 December 2025. The project has a planned installed capacity of 2,000 MW across eight units. Commercial operation dates for the remaining units will be announced later.

Power ministry reviews IES framework at second taskforce meeting

Ministry of Power held the second meeting of the India Energy Stack Taskforce on 19 December 2025 in New Delhi. The meeting reviewed Version 0.2 drafts of the strategy and architecture documents, which focus on execution and implementation. The framework emphasises secure digital identity, application programming interfaces, auditability and data governance. Pilot distribution companies have been asked to test inter-state peer-to-peer power trading under the framework.

MNRE revises PV module series approval guidelines under QCO 2025

Ministry of New and Renewable Energy issued revised guidelines on 19 December 2025 for series approval of photovoltaic modules under the Solar Systems, Devices and Components Goods Order, 2025. The guidelines allow grouping of similar module models into product families for testing and certification. They retain minimum efficiency requirements and specify mandatory laminated markings on modules. The revised framework takes immediate effect and supersedes the guidelines issued on 13 August 2025.