Power Sector News Roundup for February 17, 2026

CIL solar capex rises to Rs 961 crore by January 2026

Coal India Limited (CIL) has reported capital expenditure of Rs 961 crore on solar energy projects as of January 2026, marking a 2.33 times increase over the corresponding period last year. The company achieved 132% of its progressive target of Rs 729 crore and exceeded its full-year solar capex target of Rs 957 crore for FY 2026. Solar installation costs have declined to Rs 4 crore to Rs 4.5 crore per MW from Rs 5.5 crore to Rs 6 crore per MW. CIL has set a target of 3,000 MW renewable solar capacity by FY 2028 and had commissioned around 247 MW as of December 2025, expected to rise to 675 MW by the end of the current financial year. The company is also pursuing 2,000 MW through subsidiaries and joint ventures, including projects with Rajasthan Rajya Vidyut Utpadan Nigam Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited.

L&T to sell Nabha Power to Torrent Power

Torrent Power Limited has signed a definitive agreement to acquire 100% equity stake and convertible instruments in Nabha Power Limited from L&T Power Development Limited for an enterprise value of Rs 6,889 crore. The Securities Purchase Agreement was executed on February 16, 2026, with aggregate consideration for equity and convertible instruments at Rs 3,660.87 crore. Nabha Power Limited owns and operates a 1,400 MW (2 x 700 MW) supercritical coal-based thermal power plant at Rajpura in Patiala district, Punjab, commissioned in 2014 under Case II Competitive Bidding Guidelines. For the year ended March 31, 2025, it reported turnover of Rs 4,421.54 crore and adjusted EBITDA of Rs 1,153 crore, with a PAF of 95.36% in FY25. The deal is expected to close on or before June 30, 2026, subject to regulatory approvals.

NTPC adds 5 MW at Maroda Reservoir-I solar project

NTPC Limited has declared commercial operation of an additional 5 MW at the Maroda Reservoir-I Solar Power Project in Bhilai. The project is being implemented by NTPC-SAIL Power Company Limited, a joint venture of NTPC and Steel Authority of India Limited, and the addition was completed in January 2026. The 5 MW forms part of a total 15 MW solar project under development at the reservoir. Following this commissioning, the NTPC group’s total installed capacity has reached 87,809 MW, with commercial capacity at 86,729 MW. The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Siemens Energy to invest Rs 2,060 crore in transformer facility

Siemens Energy India Limited has approved an investment of about Rs 2,060 crore to set up a new power transformer manufacturing facility with additional capacity of around 30,000 MVA. The Board approved the decision on February 13, 2026, and commercial operations are expected between FY 2030 and FY 2032. The investment will be funded through internal accruals. For the quarter ended December 31, 2025, the company reported revenue of Rs 1,911 crore and Profit After Tax of Rs 313 crore, with an order backlog of Rs 17,599 crore. The quarterly results included a one-time exceptional charge of Rs 52 crore related to implementation of new Labour Codes announced on November 21, 2025.

REC forms SPV for Vizag green hydrogen transmission project

REC Limited has incorporated Vizag Power Transmission Limited as a wholly owned subsidiary through REC Power Development and Consultancy Limited on February 16, 2026. The special purpose vehicle has been formed for the “Transmission system for proposed Green Hydrogen / Green Ammonia projects in Vizag area, Andhra Pradesh (Phase-I).” The company has been incorporated with an authorised and paid-up capital of Rs 5,00,000 and has not commenced commercial operations. RECPDCL has been designated as the Bid Process Coordinator for selection of a Transmission Service Provider through the Tariff-Based Competitive Bidding process. After selection, the subsidiary will be transferred to the successful bidder along with its assets and liabilities.

Hartek secures Rs 735 crore orders for transmission projects

Hartek Group’s power systems business unit has secured cumulative orders worth Rs 735 crore across utility, Independent Power Producer and industrial segments. The contracts cover substation and transmission infrastructure projects ranging from 66 kV to 765 kV across multiple states including Jammu, Punjab, Haryana, Gujarat, Rajasthan, Madhya Pradesh, Maharashtra, Karnataka and Andhra Pradesh. The projects are aimed at strengthening regional and inter-state transmission networks. The company executes substations, switchyards and protection systems across voltage levels up to 765 kV. The development follows its expansion into integrated solar-plus-storage solutions, including grid-synchronised Battery Energy Storage Systems.

Uttar Pradesh allocates Rs 65,926 crore for energy in FY27

The Uttar Pradesh government has proposed an outlay of Rs 65,926 crore for the energy sector in FY 2026-27, 8% higher than the previous year. Thermal capacity has increased from 5,878 MW in 2016-17 to 9,120 MW as of December 2025, while transmission capacity has risen from 17,890 MW to 32,500 MW. The budget provides Rs 19,498.59 crore for capital expenditure on power projects and Rs 18,309.63 crore for transmission and distribution investments. Renewable targets include 22,000 MW over five years, with allocations such as Rs 1,500 crore each for a 500 MW solar project in Jalaun district and a 200 MW solar project through NTPC Green Energy Limited. Provisions also include Rs 100 crore for Battery Energy Storage Systems and Rs 5,000 crore for solar plants and BESS installations.

Rajasthan proposes Rs 2,900 crore for 4,830 MW solar parks in FY27

The Rajasthan government has proposed an outlay of about Rs 2,900 crore in Budget 2026-27 to develop solar parks aggregating 4,830 MW in Bikaner and Jaisalmer. The parks include Mehrasar–Dinarsar–Barala and Sawaisar–Karnisar–Bhatiyan–Bikoloi in Bikaner district, and Ragha–Sewda in Jaisalmer district. The budget also provides for 19 new grid substations at 220 kV and 132 kV levels and 110 new 33 kV substations. It includes provisions for a security operations centre and a network operations centre at the State Load Dispatch Centre. Separately, Rs 400.13 crore has been allocated under PM-KUSUM Component-B for solar pumps.

MNRE adds Fujiyama to ALMM-II with 437 MW cell capacity

The Ministry of New and Renewable Energy has included Fujiyama Power Systems Limited in the fifth revised edition of the Approved List of Models and Manufacturers List-II with 437 MW per year capacity. The enlistment is valid from February 13, 2026 to February 12, 2030. The facility in Gautam Buddha Nagar, Uttar Pradesh, manufactures bifacial mono-crystalline silicon Passivated Emitter and Rear Cell solar cells with average efficiency of 23.41%. With this revision, total enlisted capacity under ALMM List-II stands at 26,823 MW. Fujiyama commissioned its 1 GW solar cell plant at Dadri on January 21, 2026, with an investment of Rs 300 crore.

SJVN awards 250 MW BESS project in Haryana at Rs 1.97 lakh tariff

SJVN Limited has awarded a 250 MW/500 MWh standalone Battery Energy Storage System project in Panipat, Haryana, to Hardi Hydro Energy Private Limited at a tariff of Rs 1.97 lakh per MW per month. The project will be located at the 1,360 MW Panipat Thermal Power Station premises and will supply power near the 220 kV substation of Haryana Vidyut Prasaran Nigam Limited. The selected bidder will provide 250 MW capacity with two hours of discharge capability. The tender was finalised two months after issuance in December 2025. The project is intended to support grid stability and manage peak demand in Haryana.