Power Sector News Roundup for February 5, 2026

Advait Energy wins Rs 20 crore ERS order from MSETCL

Advait Energy Transitions Limited has secured a domestic Emergency Restoration System order from Maharashtra State Electricity Transmission Company Limited. The order was awarded on February 3, 2026, with a contract value of Rs 19,99,64,841.32, including taxes. It covers procurement of an ERS comprising ten towers, including six suspension towers and four angle towers. The execution period is six months. The company said the order was received in the normal course of business and does not qualify as a related party transaction.

ACME Solar appoints Rahul Kaushik as head of process transformation

ACME Solar Holdings Limited has appointed Rahul Kaushik as Head of Process Transformation, a newly created role. The appointment was announced on February 4, 2026. Kaushik will focus on strengthening governance frameworks and improving process efficiency across the company’s renewable portfolio. He will work with senior leadership on risk management, internal controls, and operational performance. Kaushik brings nearly two decades of experience in internal audit and risk advisory.

BHEL receives LOI for 2 x 150 MW BTG package from Hindalco

Bharat Heavy Electricals Limited has received a Letter of Intent from Hindalco Industries Limited for a boiler turbine generator package. The LOI, dated February 3, 2026, relates to the Aditya Expansion Project Phase II in Odisha. The scope includes design, manufacture, supply, erection, commissioning, and testing of a 2 x 150 MW BTG package, excluding civil works. The first unit is scheduled within 35 months and the second within 37 months. The indicative value is in the range of Rs 1,200 to Rs 1,500 crore, excluding GST.

H.M. Electro Mech secures Rs 275.27 million solar BoS EPC order in Maharashtra

H.M. Electro Mech Limited has received a domestic EPC order valued at Rs 275.27 million from Twinsag Enterprise LLP. The order was awarded on January 30, 2026. It covers Balance of System works for 32.4 MWp solar PV projects in Songir, Jamkhed, and Arthe in Maharashtra. The scope includes complete design, supply, erection, testing, and commissioning on a turnkey basis. The execution timeline is six calendar months.

Coal India clears renewable JV; board approves multiple investments

Coal India Limited has approved the formation of a renewable energy joint venture and several other corporate actions. The company will set up a 51:49 JV with U.P. Rajya Vidyut Utpadan Nigam Limited for renewable projects in Uttar Pradesh, subject to approvals. The board also cleared an equity infusion of Rs 3,189.54 crore into Bharat Coal Gasification and Chemicals Limited for a coal to ammonium nitrate project. Separately, CIL approved incorporation of an intermediate holding company in Chile. Another filing confirmed plans for a 50:50 power generation JV with Damodar Valley Corporation.

KPIL reports strong Q3, nine month growth on execution and order book strength

Kalpataru Projects International Limited reported higher revenues and profitability for Q3 FY26. Consolidated revenue rose 16% year on year to Rs 6,665 crore, while PBT before exceptional items increased 37% to Rs 277 crore. For the nine month period, revenue grew to Rs 19,365 crore and PBT to Rs 889 crore. Net debt declined 29% quarter on quarter to Rs 2,240 crore. The order book stood at Rs 63,287 crore.

NHPC posts Q3 profit, declares interim dividend, updates on projects

NHPC Limited reported a standalone profit of Rs 292.87 crore for Q3 ended December 31, 2025. Consolidated profit attributable to owners was Rs 219.12 crore. The board declared an interim dividend of Rs 1.40 per equity share, with February 10, 2026 as the record date. During the quarter, Unit 2 of the Subansiri Lower project was commissioned, followed by Unit 3 on February 1, 2026. The company also approved its exit as promoter of PTC India Limited.

Power Grid gets approval to merge transmission subsidiaries under two entities

Power Grid Corporation of India Limited has received approval from the Ministry of Corporate Affairs to merge multiple subsidiaries. Seventeen wholly owned subsidiaries will be consolidated into two entities under approved schemes. Twelve subsidiaries will merge into POWERGRID Khavda II C Transmission Limited, while five will merge into POWERGRID Vataman Transmission Limited. The appointed date for the schemes is April 1, 2024. The move is aimed at improving efficiency and governance.

Saatvik Green posts revenue growth, expands manufacturing capacity

Saatvik Green Energy Limited reported strong growth in Q3 FY26. Consolidated revenue rose 143% year on year to Rs 12,570.2 million, while EBITDA increased to Rs 1,647.6 million. Module production during the quarter was 759 MW with around 81% capacity utilisation. The company commissioned a 2 GW encapsulant protective film facility at Ambala. Its integrated manufacturing facility in Odisha remains on track.

PFC completes transfer of two transmission SPVs to winning bidders

Power Finance Corporation Limited has completed the transfer of two transmission subsidiaries held through PFC Consulting Limited. The transfers were finalised on February 3, 2026. SR and ER Power Transmission Limited was acquired by Power Grid Corporation of India Limited for Rs 19.63 crore. Morena I SEZ Transmission Limited was acquired by Enerica Infra 1 Private Limited for Rs 22.35 crore.

RECPDCL invites bids for Vizag green hydrogen transmission and Dholpur grid project

REC Power Development and Consultancy Limited has issued bids for two interstate transmission projects. On February 3, 2026, it invited proposals for transmission systems linked to green hydrogen and green ammonia projects in Vizag, Andhra Pradesh. Earlier, on February 2, 2026, bids were invited for a 400/220 kV grid substation and associated lines in Dholpur, Rajasthan. Both projects will follow tariff based competitive bidding. The completion timeline is 30 months with a BOOT tenure of 35 years.

Solis leads India rooftop solar inverter market for fifth year

Solis has ranked first in India’s rooftop solar inverter market for the fifth consecutive year. According to the CRISIL–Bridge to India Rooftop Map, Solis held a 25% market share. India added 7,117 MW of rooftop solar capacity in the year ended June 2025. The company crossed 6 GW of cumulative shipments in India in 2024. It is approaching 10 GW of shipments in the country.

Vikran Engineering sets up solar SPV for NTPC project, extends Rs 49.15 crore loan

Vikran Engineering Limited has incorporated Vikran MP Solar Private Limited as a wholly owned subsidiary. The SPV was set up to execute a 400 MW AC solar BoS project for NTPC Renewable Energy Limited. The contract value is Rs 459.20 crore. Vikran also extended a demand loan of Rs 49.15 crore to Onix Renewable Limited at 15% annual interest. The loan is repayable at Vikran’s discretion.

Tata Power posts strong Q3 as renewable, manufacturing units drive growth

Tata Power Company Limited reported consolidated profit after tax of Rs 1,194 crore for Q3 FY26. Revenue stood at Rs 14,485 crore, while EBITDA reached Rs 3,913 crore. Renewable energy profit after tax rose 156% year on year to Rs 547 crore. Solar manufacturing profit increased 124% to Rs 251 crore. The company commissioned around 1.3 GW of renewable capacity during the quarter.

SECI concludes 1.2 GW wind auction with tariffs at Rs 3.67–3.69 per kWh

Solar Energy Corporation of India has concluded its 1,200 MW interstate wind power auction. Tariffs were discovered in the range of Rs 3.67 to Rs 3.69 per kWh. The lowest tariff of Rs 3.67 per kWh was quoted by KP Energy Limited for 100 MW. Multiple developers secured capacity at Rs 3.68 and Rs 3.69 per kWh. Successful bidders will sign 25 year power purchase agreements with SECI.

Waaree Energies US arm bags 150 MW international solar module order

Waaree Energies Limited has secured an international solar module supply order through its US subsidiary. Waaree Solar Americas Inc. will supply 150 MW of modules to a reputed solar developer and independent power producer. The order was disclosed on February 4, 2026. Deliveries are scheduled across 2026 and 2027. The company said the order is a one time international supply contract.