Power Sector News Roundup for December 24, 2025
Author: PPD Team Date: December 24, 2025
India
ACME Solar wins 130 MW RTC project from REMC
ACME Solar Holdings Limited said it received a Letter of Award from REMC Limited for a 130 MW renewable energy round-the-clock project on 24 December 2025. The project was awarded to a domestic entity at a tariff of Rs. 4.35 per kWh, fixed for the full 25-year term. The company clarified that the disclosure was voluntary and does not qualify as a related party transaction. Separately, ACME Solar informed exchanges about the incorporation of a wholly owned subsidiary, ACME Greentech Sixteen Private Limited, in Gurugram to develop and operate power and renewable energy projects.
CEA meeting reviews 4 GW renewable energy curtailment in Rajasthan
The Central Electricity Authority reviewed large-scale renewable energy curtailment in Rajasthan at a meeting held on 15 December 2025. Developers reported that around 4 GW of commissioned capacity continues to face restrictions due to the lack of Temporary General Network Access margins during peak solar hours. Despite the commissioning of the Khetri–Narela 765 kV line, injections remain constrained between 11 am and 2 pm for part of the capacity. The meeting identified voltage oscillations, low short circuit ratios, and transmission congestion as key issues, and agreed on follow-up actions including data sharing, network upgrades, and joint studies by Grid India and CTUIL.
MPUVNL awards 4.01 GW in 4.3 GW PM KUSUM-C solar auction
Madhya Pradesh Urja Vikas Nigam Limited awarded 4.01 GW of solar capacity to 82 companies under its 4.3 GW auction held for Component C of the PM KUSUM scheme. Dilip Buildcon Limited secured 1,363.54 MW at Rs. 2.73 per kWh, while Sunbridge Solar Power won 471.29 MW at Rs. 2.75 per kWh. Dilip Buildcon later disclosed that its award relates to a 1,363.55 MW AC project with an engineering, procurement, and construction value of about Rs. 4,900 crore, excluding taxes. All projects include plant development, grid connectivity, and 25 years of operations and maintenance.
Waaree Energies sets up 10 project specific subsidiaries
Waaree Energies Limited announced that its wholly owned subsidiary, Waaree Forever Energies Private Limited, has incorporated ten new step-down subsidiaries. These entities have been set up as Independent Power Producers to hold specific projects under the IPP framework. All ten companies are registered in India with the Registrar of Companies in Mumbai, with incorporations completed on 22 and 23 December 2025. Waaree confirmed that the transactions are not related party transactions and do not require regulatory approvals.
NTPC board clears pumped storage JV and Mauritius subsidiary
NTPC Limited said its board approved the formation of a 50:50 joint venture with EDF Power Solutions India Private Limited to develop pumped storage plants. The partnership builds on a non-binding term sheet signed in February and will focus on hydro and pumped storage projects integrated with renewable energy. The board also cleared the incorporation of a wholly owned subsidiary in Mauritius to pursue regional power projects, including floating solar photovoltaic installations. Both proposals are subject to approvals from the Ministry of Power, DIPAM, and other statutory authorities.
China seeks WTO consultations with India over solar and IT trade measures
China has requested consultations with India at the World Trade Organization over measures affecting trade in solar cells, modules, and information technology products. The request, dated 19 December 2025, challenges India’s tariff treatment and incentive conditions that allegedly favour domestic production. China has questioned duties imposed under multiple customs laws and the Production Linked Incentive Scheme for high-efficiency solar PV modules. It claims these measures breach WTO agreements and impair benefits accruing to China, while reserving the right to raise further claims during consultations.
Global
IFC-led lenders back one of Africa’s largest solar storage projects
The International Finance Corporation has led a $571.8 million debt financing package for the Abydos II project in Egypt alongside AMEA Power and Kyuden International Corporation. The project includes a 1,000 MW solar photovoltaic plant paired with a 600 MWh battery energy storage system in Aswan Governorate. Financing comprises IFC’s own loan, funds mobilised from international lenders, and concessional blended finance to reduce project risk. The facility is expected to generate over 3 million MWh annually and support Egypt’s target of a 42 per cent renewable energy share by 2030.