Power Sector News Roundup for December 4, 2025

India

Vikram Solar names Arun Mittal as CEO of VSL Powerhive

Vikram Solar has appointed Arun Mittal as CEO of VSL Powerhive Private Limited to support its entry into the energy storage market as module capacity reaches 9.5 GW. VSL Powerhive will focus on battery storage as part of the company’s plan to operate as an integrated energy transition firm. Mittal brings more than thirty years of experience from Exide Industries and Lohum Cleantech.
Vikram Solar has doubled its module capacity to 9.5 GW and is adding 6 GW more, taking it to 15.5 GW. The company is also developing 12 GW of solar cell capacity for FY27. Leadership said storage is important for grid stability and round the clock supply.

Pace Digitek subsidiary wins Rs 997 million BESS supply contract

Pace Digitek said its subsidiary Lineage Power has secured a Rs 997.10 million order from Advait Greenergy for an LFP Battery Energy Storage System. The order was received on December 03, 2025. Half of the BESS DC blocks are due by March 15, 2026 and full delivery by April 15, 2026. The execution window is 133 days from the purchase order.
The company said the contract is not a related party transaction and its promoters have no interest in the buyer.

NHPC synchronises 250 MW Unit 2 of Subansiri Lower HEP with the national grid

NHPC has completed test synchronisation of the 250 MW Unit 2 of the 2,000 MW Subansiri Lower Project on 2 December 2025. Commercial operation is expected this month. Senior NHPC leadership attended the event virtually, while project teams joined on site.
The company said the milestone reflects progress and supports grid reliability. Subansiri Lower will be India’s largest hydropower station once all eight units are commissioned.

IEX records 17.7% rise in November power trade and IGX clears IPO move

Indian Energy Exchange reported a 17.7 per cent rise in November electricity volumes to 11,409 MU. The Day Ahead Market reached 5,668 MU and the Real Time Market reached 4,233 MU. The Term Ahead Market grew to 693 MU. Prices fell across segments.
IEX said the Indian Gas Exchange board has approved the start of the IPO process, which will be an offer for sale based on market and regulatory conditions.

ADB approves USD 650 million loan for India’s rooftop solar program

ADB has approved a USD 650 million loan to support India’s rooftop solar program under the Pradhan Mantri Surya Ghar Muft Bijli Yojana. The plan aims to reach 10 million households by 2027 and includes subsidies of 60 per cent for systems up to 2 kW and 40 per cent for 2 kW to 3 kW systems.
The program will create uniform guidelines, expand access to finance and support training. ADB expects the effort to advance rooftop capacity and reduce CO2 emissions.

HG Infra subsidiary signs BESPA with GUVNL for 300 MW BESS project

H.G. Choraniya Bess has signed a storage purchase agreement with GUVNL for a 300 MW and 600 MWh BESS project. The capacity was awarded in GUVNL’s Phase VI auction. The project will be completed in 24 months at an estimated cost of Rs 6.70 billion.
The tariff is Rs 285,600 per MW for 12 years and the system will be available for GUVNL operations.

IndiGrid to acquire Gadag Transmission Limited for Rs 372 crore

IndiGrid will acquire Gadag Transmission Limited for an enterprise value of about Rs 372 crore with an earn out linked to Change In Law, availability and billing. The project evacuates power from the Gadag Solar Energy Zone and includes 187 circuit kilometres of lines and a 1,000 MVA substation.
The asset is owned by ReNew Transmission Ventures and KNI India AS. IndiGrid said the deal strengthens its Karnataka grid portfolio and will be funded through equity, internal accruals and debt.