Power Sector News Roundup for February 18, 2026

Adani Green incorporates Skyspin Energy as step-down subsidiary

Adani Green Energy Limited has incorporated a new step-down subsidiary, Skyspin Energy Limited (SEL). The entity was registered on February 17, 2026, as a wholly owned subsidiary of Adani Renewable Energy Holding Eleven Limited (AREH11L), an existing subsidiary of the company. SEL has been registered with the Registrar of Companies in Gujarat, with its registered office in Ahmedabad. At incorporation, the company has an authorised capital of Rs 1,00,000 and a paid-up capital of Rs 1,00,000, and has not commenced operations. The filing stated that the move is part of internal organisational structuring and does not qualify as a related party transaction.

ReNew narrows Q3 loss to Rs 198 million; income up 48%

ReNew Energy Global Plc reported a net loss of Rs 198 million (US$ 2 million) for Q3 FY26, compared with a loss of Rs 3,879 million (US$ 43 million) in the same period last year. Total income rose 48% year-on-year to Rs 31,372 million (US$ 349 million), supported by higher operational capacity, improved wind plant load factors and external sales from solar module and cell manufacturing. Adjusted Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased to Rs 21,381 million (US$ 238 million) from Rs 13,882 million (US$ 155 million) in Q3 FY25. For the first nine months of FY26, net profit stood at Rs 9,608 million (US$ 107 million), while total income rose 46.3% to Rs 111,087 million (US$ 1,236 million). As of December 31, 2025, total portfolio was approximately 19.2 GW, including 1.5 GW of Battery Energy Storage Systems (BESS), with commissioned capacity at about 11.7 GW as of mid-February 2026.

SWELECT posts Rs 9.52 crore Q3 profit; income up 46.7%

SWELECT Energy Systems Limited reported a consolidated profit after tax of Rs 9.52 crore for Q3 FY26, compared with a loss of Rs 10.58 crore in the corresponding quarter last year. Total income increased 46.7% year-on-year to Rs 147.19 crore, with revenue from operations rising to Rs 138.63 crore from Rs 91.38 crore in Q3 FY25. Operational Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at Rs 40.17 crore, compared with Rs 27.35 crore a year earlier, while profit before tax was Rs 14.01 crore. For the first nine months of FY26, profit after tax was Rs 46.50 crore against Rs 5.00 crore in the corresponding period of FY25. The board approved the unaudited results on February 13, 2026.

Vayona Energy secures 64.8 MW wind turbine order in Andhra Pradesh

Vayona Energy signed its first turbine supply agreement in India with Oyster Renewable Energy for a 64.8 MW wind project in Kadapa district, Andhra Pradesh. The company will supply 18 SG 3.6-145 wind turbines, along with a long-term operations and maintenance (O&M) agreement. Supply is scheduled to begin in the first quarter of calendar year 2026, with key components to be manufactured at its Mamandur facility near Chennai. The company stated that its order intake since introducing the 3X platform in India has crossed 3.6 GW, with installations exceeding 2 GW as of December 2025.

Powertrac Group invests Rs 600 crore in 1,000 MWh BESS facility

Powertrac Group has invested Rs 600 crore to establish a 1,000 MWh per annum containerised Battery Energy Storage System (BESS) manufacturing facility in India. The facility will focus on Lithium Iron Phosphate (LFP)-based battery pack assembly and in-house Battery Management System (BMS) development and integration. The company plans to introduce 1–5 MWh modular containerised grid-scale BESS solutions and solar-plus-BESS hybrid systems. The expansion aligns with its target of achieving 1 GW of operational Independent Power Producer (IPP) projects by 2030.

Sumil Mathur appointed Group CFO at Sterlite Electric

Sterlite Electric has appointed Sumil Mathur as Group Chief Financial Officer (CFO). He will oversee global financial strategy, capital management and corporate governance across the group’s businesses. Mathur joins from Emaar India, where he served as Chief Operating Officer (COO) and Chief Financial Officer (CFO). He has nearly three decades of experience across real estate, telecommunications and manufacturing, including prior roles at HCL Infosystems Ltd., Indus Towers, JCB, Bharti Airtel and India Yamaha Motor Pvt. Ltd.

MNRE extends domestic sourcing deadline for wind turbine bearings

The Ministry of New and Renewable Energy (MNRE) has extended timelines for domestic sourcing of main, yaw and pitch bearings under the Approved List of Models and Manufacturers (ALMM). In an office memorandum dated February 16, 2026, MNRE revised its July 31, 2025 directive, citing supply chain constraints. Main bearings for projects bid before July 31, 2025 are exempted until July 31, 2027, subject to review. For projects scheduled to be commissioned within eighteen months from July 31, 2025, yaw and pitch bearings have been granted an extension until January 31, 2028, and main bearings until January 31, 2029.

BHEL secures Captive Power Plant order from SAIL

Bharat Heavy Electricals Limited (BHEL) has received a Letter of Acceptance (LOA) from Steel Authority of India Limited (SAIL) for a Captive Power Plant (CPP) at the IISCO Steel Plant in Burnpur. The order is valued between Rs 1,200 crore and Rs 1,500 crore excluding Goods and Services Tax (GST) and is linked to SAIL’s 4.08 million tonnes per annum (MTPA) crude steel expansion. The contract covers design, engineering, manufacturing, supply, erection, commissioning and performance guarantee testing on a turnkey basis, excluding civil works. The commissioning period is 39 months from the effective date of the contract.

Bajel Projects forms 50:50 JV with ASC in Saudi Arabia

Bajel Projects Limited has signed a joint venture agreement with Al Sharif Contracting and Commercial Development Company (ASC) to establish a 50:50 partnership in the Kingdom of Saudi Arabia. The proposed joint venture company will undertake Engineering, Procurement, and Construction (EPC) projects in High Voltage (HV) and Extra High Voltage (EHV) transmission lines, substations and underground cabling. Both partners will invest up to SAR 1 million each, equivalent to approximately USD 270,000. The joint venture is expected to be incorporated within three to six months from February 17, 2026.

Saatvik Solar subsidiary secures Rs 44.1 crore PV module order

Saatvik Green Energy Limited announced that its subsidiary, Saatvik Solar Industries Private Limited, has received and accepted an order worth Rs 44.10 crore for solar photovoltaic (PV) modules. The contract has been awarded by a domestic entity described as a prominent Independent Power Producer (IPP) or Engineering, Procurement, and Construction (EPC) player. The order is scheduled for execution by March 2026. The company stated that the transaction does not constitute a related party transaction.

NHPC achieves DT-3 breakthrough at 2,880 MW Dibang project

NHPC Limited completed the daylighting of Diversion Tunnel-3 (DT-3) at the 2,880 MW Dibang Multipurpose Project on February 17, 2026. The final blast was initiated remotely by Sanjay Kumar Singh, Director (Projects), in the presence of senior officials from NHPC and Larsen & Toubro Limited (L&T). The milestone advances the project to the next phase of construction. NHPC stated that work will continue in coordination with associate contractors to meet remaining targets.

SECI signs MoU with Mumbai Port Authority for solar deployment

Solar Energy Corporation of India Limited (SECI) signed a Memorandum of Understanding (MoU) with Mumbai Port Authority in Mumbai to deploy solar power across port facilities. The agreement was exchanged by Shri Manas Ranjan Mishra, Deputy General Manager (DGM), on behalf of SECI, and Shri K. Ramesh, Chief Mechanical Engineer (CME), on behalf of Mumbai Port Authority. The collaboration aims to support clean energy use within maritime infrastructure. SECI stated that the initiative aligns with broader sustainability and decarbonisation objectives.

Rolls-Royce unveils modular gas engine plants for Germany

Rolls-Royce has introduced modular gas engine power plant solutions to support Germany’s Power Plant Strategy and energy transition plans. The preconfigured units, available in 10 MW, 20 MW and 30 MW capacities, are designed for grid connection within 12 to 18 months from order placement. The systems are hydrogen-ready and scalable from 5 MW to several hundred MW. The company stated that the modular format enables faster deployment and supports decentralised generation to enhance system resilience.