Power Sector News Roundup for February 27, 2026

ZFI and Waaree sign EAAS deal for 2.5 MW electrolyzer, plan 50 MW expansion

Zero Footprint Industries Ltd (ZFI) and Waaree Clean Energy Solutions Private Limited, a wholly owned subsidiary of Waaree Energies Limited, have signed an Electrolyzer as a Service (EAAS) agreement for a 2.5 MW alkaline electrolyzer system and a memorandum of understanding for an additional 50 MW capacity. The agreements were announced on February 23, 2026 for projects in Uttar Pradesh and Northern India. Waaree will design, engineer, supply, install, commission, own and operate the system manufactured at its Dungri plant in Gujarat under a 15-year contract. The project is expected to generate around 41 lakh Nm³ of green hydrogen and 20 lakh Nm³ of green oxygen annually and reduce approximately 70,000 metric tonnes of carbon each year. It is supported by the Uttar Pradesh New & Renewable Development Agency under the Green Hydrogen Policy 2024 and aligns with the National Green Hydrogen Mission target of 5 million metric tonnes per annum.

Patel Engineering emerges L1 for Renukaji Dam Package-1

Patel Engineering Limited has been declared the lowest bidder by Himachal Pradesh Power Corporation Limited for Package-1 of the Renukaji Dam Project, valued at Rs 910.08 crore including Goods and Services Tax (GST). The project, located in District Sirmaur, Himachal Pradesh, is scheduled for completion within 30 months. The scope includes construction of three diversion tunnels of 9.5 meters finished diameter, measuring 1,379 meters, 1,468 meters, and 1,590 meters in length. Works also cover inlet and outlet portals, six kilometers of access roads, hydro-mechanical gates, and instrumentation. The project is intended to enhance water storage, support reliable supply, and enable hydropower generation.

Andhra Pradesh approves 200 MW solar park by Yashaswa Power

The Government of Andhra Pradesh has approved a 200 MW AC/300 MWp DC solar power park to be developed by Yashaswa Power LLP, a group company of Clean Max Enviro Energy Solutions Pvt Ltd. The project involves an investment of Rs 1,200 crore and will be set up in Sri Sathya Sai district, producing about 445 million units annually and generating nearly 690 employment opportunities. It will connect to the 400/220 kV Andhra Pradesh Transmission Corporation Limited (APTRANSCO) Hindupur substation. Clean Max Enviro Energy Solutions is launching a Rs 3,100-crore mainboard initial public offering (IPO) from February 23-25, comprising a fresh issue of Rs 1,200 crore and an offer for sale of Rs 1,900 crore. The price band is Rs 1,000-1,053 per share with listing planned on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Tamil Nadu interim budget allocates Rs 18,091 crore for energy sector

The Tamil Nadu government has presented the interim budget 2026-2027 with a total net expenditure of Rs 18,090.63 crore for the Energy Department. Under major head 2801 (Power), net expenditure is estimated at Rs 24,661.23 crore for 2026-27, compared with Rs 15,284.68 crore in 2025-26. The budget provides Rs 7,641.34 crore for tariff reduction subsidies and Rs 20.60 crore for subsidized tariffs for public places of worship. Major head 4801 includes Rs 5,067.80 crore for capital outlay, while Rs 348.25 crore is allocated under major head 6801 including Asian Development Bank (ADB) assistance to Tamil Nadu Transmission Corporation Limited. The capital outlay includes Rs 5,000 crore as share capital support to the Tamil Nadu Electricity Board.

WebSol receives 85.5 MW solar module orders worth Rs 172 crore

WebSol Energy System Limited has received three purchase orders totalling 85.5 MW valued at about Rs 172 crore, with delivery scheduled by May 2026. The clients are Bekem Infra Projects, Sri Avantika Contractors, and Kosol Energie. The company stated on February 26, 2026 that United States tariff changes on solar imports will not affect its operations as it has no exports to the United States. WebSol operates a manufacturing facility in the Falta Special Economic Zone (SEZ) in West Bengal with annual solar cell capacity of 1,200 MW and module capacity of 550 MW. The company manufactures solar photovoltaic (PV) cells and modules under an integrated production model.

Rajesh Power Services L1 for GIS substation project in Rajasthan

Rajesh Power Services Limited has been declared the lowest bidder for construction of a 132/33 kV, 2×50 MVA gas-insulated switchgear (GIS) substation at Hathi Bhata in Ajmer district. The bid confirmation was received from Rajasthan Rajya Vidyut Prasaran Nigam Limited. The scope includes survey, supply, erection including civil works, testing, commissioning, and associated transmission lines. The project timeline is 18 months from commencement. The declaration remains subject to final confirmation by the authority.

REC subsidiary transfers Umred transmission SPV to MAHATRANSCO

REC Limited has completed the transfer of Umred Power Transmission Limited through its wholly owned subsidiary REC Power Development and Consultancy Limited. The special purpose vehicle, incorporated on July 7, 2025, will implement a 400/220/132 kV substation at Umred in Nagpur district. The entire shareholding of 50,000 equity shares was transferred at par on February 26, 2026 under a Share Purchase Agreement. The successful bidder is Maharashtra State Electricity Transmission Company Limited, selected through tariff-based competitive bidding. The consideration amounts to Rs 2,34,28,481 including fees, expenses, and taxes.

NTPC signs MoUs with GMDC for coal and lignite collaboration

NTPC Limited has signed two memorandums of understanding with Gujarat Mineral Development Corporation Limited to explore utilisation of coal and lignite resources. One MoU covers coal supply from GMDC blocks for NTPC power stations, while the other focuses on coal and lignite gasification and downstream commercialisation. The joint press release dated February 26, 2026 states that the collaboration supports energy security and clean coal technologies. The agreements include exploration of pilot projects and syngas utilisation. The partnership aligns with national energy security objectives.

Premier Energies launches India’s first zero busbar TOPCon solar cell

Premier Energies Limited has introduced India’s first zero busbar (OBB) tunnel oxide passivated contact (TOPCon) solar cell at the Intersolar exhibition in Gandhinagar on February 26, 2026. The OBB design replaces conventional 10BB and 16BB configurations with ultra-fine silver lines to reduce silver consumption and shading losses. The company states the architecture improves mechanical flexibility and resistance to micro-cracks. It aims to enhance long-term reliability under Indian climatic conditions. The development required high manufacturing precision and integrated production capabilities.

CESC awards 600 MW ISTS hybrid capacity at Rs 3.74–3.75/kWh

Calcutta Electric Supply Corporation has awarded 600 MW of interstate transmission system (ISTS) connected wind-solar hybrid projects at tariffs between Rs 3.74 and Rs 3.75 per kWh. Vismaya Renewables India Project secured 100 MW at Rs 3.74 per kWh, while Hexa Climate Solutions, Sprng Energy, and Purvah Green Power secured the remaining capacity at Rs 3.75 per kWh. Projects will be developed under a build-own-operate model with 25-year power purchase agreements. Interconnection is required at a minimum of 220 kV with a wind-to-solar ratio of at least 2:1. The tender was issued in November 2025.

K.P. Energy wins LoA for 40.8 MW hybrid project in Gujarat

K.P. Energy Limited has received a letter of award from Enerparc Energy Private Limited for a 40.8 MW wind-solar hybrid project in Gujarat. The project comprises around 20.2 MW wind and 20.6 MWp solar capacity. It will be executed on a complete turnkey basis, including supply, installation, and commissioning. The scope also covers evacuation infrastructure, grid connectivity, and statutory approvals. The company confirmed receipt of the LoA in a disclosure.

Zelestra India rebrands to Resolven to scale renewable platform

Zelestra India has rebranded to Resolven, supported by EQT, to build a multi-gigawatt renewable energy platform. The company plans to execute more than 1.5 GW annually during a two-year proof-of-scale phase and reports a 5.5 GW pipeline. Focus areas include solar, wind, hybrid, and battery storage projects across multiple states. Priorities for 2026 include commissioning ongoing projects, expanding the commercial and industrial segment, and securing financial closure. EQT will support expansion through institutional capital and strategic expertise.

Evervolt partners HyperStrong to distribute BESS in India, Sri Lanka

Evervolt Green Energy Pvt. Ltd. has partnered with Beijing HyperStrong Technology Co., Ltd. to distribute battery energy storage systems in India and Sri Lanka. HyperStrong has appointed Evervolt as a regional distributor for commercial and industrial applications. Evervolt operates a 1.2 GW mono passivated emitter and rear cell facility and is developing a 2.5 GW tunnel oxide passivated contact facility expected between February and March 2027. HyperStrong has deployed over 50 GWh of storage capacity globally across more than 400 projects. The collaboration includes joint marketing and technical training programmes.

India peak power demand reaches 245,416 MW in January 2026

India recorded a peak power demand of 245,416 MW on January 9, 2026 at 9:52 AM, with total monthly consumption of 142,888 million units (MU). Grid frequency remained between 49.9 Hz and 50.05 Hz for 78.26% of the time, with a monthly average of 50.00 Hz. Solar generation reached 14,998 MU and wind generation 6,133 MU, while hydropower totalled 7,913 MU. International trade included exports of 569.80 MU to Bangladesh and 221.04 MU to Nepal, and imports of 465.03 MU from Bhutan. Infrastructure additions included 1,200 MW solar, 381 MW wind, 500 MW hydro, 525 MW thermal, and 16 MW battery energy storage system capacity.