Power Sector News Roundup for February 20, 2026

InoxGFL Group firms win bid for Wind World IPP and O&M businesses

Two companies under the INOXGFL Group have been declared successful bidders to acquire the Independent Power Producer (IPP) and Operations & Maintenance (O&M) businesses of Wind World India Limited. The transactions were executed through a consortium led by Inox Neo Energies and were finalised after approval from the Committee of Creditors (CoC) under the Corporate Insolvency Resolution Process (CIRP) overseen by the National Company Law Tribunal (NCLT). Under the approved resolution plan, Inox Clean Energy Limited’s subsidiary, Inox Neo Energies (INEL), will take over Wind World India’s operational IPP portfolio, while the O&M business will be acquired through Inox Green Energy Services Limited (IGESL). The Letter of Intent (LoI) was issued and accepted on February 19, 2026, with implementation subject to final approval from the Hon’ble NCLT, Ahmedabad Bench. Wind World (India) Limited holds an installed IPP capacity of around 600 MW and its O&M division manages approximately 4.5 GW of wind assets.

ACME Urja One signs PPA with SECI for 190 MW hybrid project

ACME Urja One Private Limited has signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI) for a 190 MW Inter-State Transmission System (ISTS)-connected wind-solar hybrid project. The PPA was executed on February 18, 2026, with a discovered tariff of Rs 4.72 per unit and a minimum annual Capacity Utilisation Factor (CUF) requirement of 50% along with 80% of daily peak power demand. The project forms part of a 380 MW capacity awarded under SECI’s Tranche-VI hybrid auction, with connectivity secured for solar, wind, and battery energy storage systems (BESS). Financing has been obtained from Power Finance Corporation Limited (PFC) under an already sanctioned Phase II project, and the Scheduled Commercial Operation Date (SCOD) is February 27, 2028. Following the agreement, ACME Solar’s total PPA-signed portfolio has increased to 5,820 MW.

Waaree subsidiary plans 16 GWh battery gigafactory in Andhra Pradesh

Waaree Energy Storage Solutions Private Limited is in discussions with the Government of Andhra Pradesh to establish an integrated lithium-ion battery gigafactory at Rambilli in Anakapalli district with a proposed investment of about Rs 8,175 crore. The facility is planned with a manufacturing capacity of 16 GWh for advanced chemistry storage cells and Battery Energy Storage Systems (BESS) and is expected to create around 3,000 direct jobs. The State Investment Promotion Board, chaired by Chief Minister N. Chandrababu Naidu, has granted in-principle approval to the proposal. Waaree Energies had earlier approved increasing manufacturing capacity from 3.5 GWh to 20 GWh through its subsidiary, involving additional capital expenditure of about Rs 8,000 crore. The proposed investment aligns with Andhra Pradesh’s Integrated Clean Energy Policy 2024 and introduces energy storage manufacturing within the state’s clean energy value chain.

NLC India targets 2 GW renewable addition this financial year

NLC India Limited aims to add around 2 GW of renewable capacity by the end of the current financial year, according to details shared during an investor call by M. Prasanna Kumar, Director. The company is advancing a 600 MW renewable energy project in Gujarat, with 300 MW expected to be commissioned by the end of the current financial year and the remaining 300 MW within one to one-and-a-half months of the next financial year. Land acquisition for the 1,000 MW solar joint venture with the Government of Assam is in its final stage, enabling construction to begin after completion. Preparatory work is underway for the proposed initial public offering (IPO) of NLC India Renewables, currently expected in September 2026. The company continues to progress multiple joint ventures targeting renewable capacity across Rajasthan, Assam, Maharashtra, and Odisha.

India, UK launch offshore wind taskforce

India and the United Kingdom have established a joint Offshore Wind Taskforce to accelerate project implementation, strengthen supply chains, and address structural challenges in India’s offshore wind sector. The initiative was launched by Union Minister for New and Renewable Energy Pralhad Joshi along with UK Deputy Prime Minister David Lammy and British High Commissioner to India Lindy Cameron under the India–UK Vision 2035 framework and the Fourth Energy Dialogue. The Taskforce will focus on market design, infrastructure development, and financing to improve project bankability and execution. India has identified offshore wind zones along the Gujarat and Tamil Nadu coastlines, supported by surveys and grid planning through the National Institute of Wind Energy (NIWE). The government has introduced a Viability Gap Funding (VGF) scheme with a total allocation of Rs 7,453 crore to support early deployment.

Haryana approves Rs 402.41 crore solar micro-irrigation projects

The Haryana State Level Sanctioning Committee (SLSC) has approved four Community-Based Solar-Powered Integrated Micro-Irrigation Projects with a total investment of Rs 402.41 crore. The projects will cover 61 canal outlets across 20 blocks in Bhiwani, Jhajjar, Kurukshetra, and Mahendragarh districts and will be completed between 2026–27 and 2028–29. The initiatives are expected to bring 11,040 hectares under micro-irrigation, benefiting 8,926 farmers across 94 villages. District-wise allocations include Rs 95.78 crore for Bhiwani, Rs 114.68 crore for Jhajjar, Rs 77.17 crore for Kurukshetra, and Rs 114.78 crore for Mahendragarh. The projects will deploy drip and sprinkler systems to improve water-use efficiency and reduce transmission losses.

US DoE allocates $175 million for coal plant upgrades

The US Department of Energy (DoE) has allocated $175 million for six projects aimed at modernising, retrofitting, and extending the operational life of coal-fired power plants serving rural and remote communities. The funding is part of a broader $525 million programme focused on improving reliability and efficiency across the coal fleet using existing transmission infrastructure. Awards have been granted to projects led by Appalachian Power Company, Buckeye Power, Duke Energy Carolinas, Kentucky Utilities Corporation, Monongahela Power Company, and Ohio Valley Electric Corporation. The projects include upgrades at facilities such as the Mountaineer Power Plant, John E. Amos Power Plant, Cardinal Plant, Belews Creek Steam Station, Ghent Generating Station, Fort Martin Power Station, and Kyger Creek Station. The DoE stated that the upgrades are expected to improve grid resilience, extend plant operating life, and help stabilise electricity costs.