Power Sector News Roundup for January 12, 2026

India

Oriana Power approves Rs 75 crore debenture issue

Oriana Power Limited has approved raising Rs 75 crore through a private placement of debentures at a Board meeting held on 5 January 2026. The company plans to issue 7,500 rated, unlisted, senior, secured, redeemable, transferable, non-convertible debentures, each with a face value of Rs 1,00,000. The debentures will carry a fixed annual coupon of 11.6%, payable monthly, with a tenure of up to 48 months from allotment. The funds will support Oriana Power’s growing project pipeline, including recently awarded solar and energy storage projects.

SECI awards 1,200 MW solar plus storage tender

Solar Energy Corporation of India has completed the award of its 1,200 MW solar tender integrated with a 600 MW / 3,600 MWh battery energy storage system. NLC India Limited secured 600 MW, while Oriana Power Limited and RPIL Power Three Private Limited won 300 MW each, and ENGIE was awarded 200 MW. Tariffs were discovered at Rs 3.12 per kWh for ENGIE and NLC India, and Rs 3.13 per kWh for RPIL Power Three and Oriana Power. The projects will be developed on a Build Own Operate basis under 25 year power purchase agreements.

Axis Energy plans Rs 31,750 crore renewable investment in Odisha

Axis Energy has proposed an investment of Rs 31,750 crore in Odisha to develop around 5,000 MW of renewable energy capacity. The portfolio includes wind, solar, agri photovoltaics, hybrid projects, and battery energy storage systems. The company estimates the projects could generate over 5,500 direct and indirect jobs. The proposal aligns with Odisha’s Resource Adequacy Plan prepared by the Central Electricity Authority and aims to address the state’s low utilisation of its estimated 41.3 GW renewable potential.

ADM Solar Power signs 10 MW captive solar PPA for Aligarh plant

ADM Solar Power has signed a 10 MW power purchase agreement with Avener Green Pvt. Ltd. under an Open Access Captive model. The agreement will supply renewable power to ADM’s solar module and cell manufacturing facility in Aligarh. Electricity will be sourced from a dedicated captive solar plant developed by Avener Green. ADM stated that the arrangement supports cost stability, energy security, and its sustainability objectives.

Vayona Energy appoints Pritesh Vinay as CEO

Vayona Energy has appointed Pritesh Vinay as Chief Executive Officer with effect from 5 January 2026. The company was formed following the acquisition of Siemens Gamesa’s onshore wind business in India and Sri Lanka. Vinay brings over 25 years of experience across renewable energy, infrastructure, and capital markets, and was previously Director (Finance) and Chief Financial Officer at JSW Energy. He will focus on strengthening Vayona Energy’s market position, manufacturing scale, and customer engagement.

IREDA Q3 FY 2024-25 revenue rises 36% to Rs 1,699 crore

Indian Renewable Energy Development Agency Ltd. reported revenue from operations of Rs 1,698.99 crore in Q3 FY 2024-25, up 35.57% year on year. Profit before tax rose to Rs 538.20 crore, while profit after tax increased to Rs 425.37 crore. Loan sanctions during the quarter reached Rs 13,226.81 crore and the loan book expanded to Rs 68,959.61 crore. Net worth grew to Rs 9,842.07 crore, reflecting a 20.99% annual increase.

Waaree Energies receives 105 MW solar module order

Waaree Energies Limited has received a domestic order for the one time supply of 105 MW of solar modules. The order was received on 8 January 2026 from a domestic renewable energy project developer. The company expects the supply to be completed within FY 2025-26. Waaree confirmed that the order does not involve any related party transaction.

Advait Energy Transitions emerges L1 bidder for two power projects

Advait Energy Transitions Limited has emerged as the lowest bidder in two separate tenders, with confirmations received on 8 January 2026. The first project from Paschim Gujarat Vij Company Limited involves 11 kV Medium Voltage Covered Conductor works under the Revamped Distribution Sector Scheme, valued at around Rs 245.34 crore. The second project from Power Transmission Corporation of Uttarakhand Limited involves replacement of ACSR conductors with HTLS conductors on a 132 kV transmission line, valued at Rs 27,87,89,080.60. Formal awards are subject to issuance of Letters of Intent or Award.

Saatvik subsidiaries secure Rs 35 crore in new solar orders

Saatvik Green Energy Limited reported that its subsidiaries have secured two domestic solar orders worth a combined Rs 35 crore. Saatvik Cleantech EPC Private Limited received a Rs 20.84 crore turnkey EPC contract scheduled for completion by end March 2026. Separately, Saatvik Solar Industries Private Limited secured a Rs 13.80 crore order for supply of solar PV modules, expected to be completed by February 2026. Both orders were awarded by domestic counterparties.

NTPC, MAHAGENCO sign SHA for Sinnar Thermal acquisition

NTPC Limited has signed a Shareholder Agreement with Maharashtra State Power Generation Company Limited for acquiring Sinnar Thermal Power Limited. The acquisition follows approval by the National Company Law Tribunal on 28 November 2025 under the Corporate Insolvency Resolution Process. NTPC and MAHAGENCO will each hold a 50% stake, acquiring 100% equity for a total cost of Rs 3,800.14 crore. The transaction is scheduled to close by 26 February 2026.

REC transfers two Maharashtra transmission SPVs

REC Power Development and Consultancy Limited has transferred its entire shareholding in Velgaon Power Transmission Limited and Jejuri Hinjewadi Power Transmission Limited. The transfers were completed on 9 January 2026 to Ceigall India Limited and The Tata Power Company Limited respectively. Both projects will be developed under the Build Own Operate Transfer model in Maharashtra. The divestments conclude the tariff-based competitive bidding process initiated in March 2025.

Draft battery Aadhaar guidelines released for lifecycle traceability

India has released draft Guidelines for Implementation of the Battery Pack Aadhaar System to enable lifecycle traceability of batteries. The framework proposes a unique 21 character alphanumeric identity for battery packs, supported by QR codes and a secure data system. It initially covers electric vehicle batteries and industrial batteries above 2 kWh, while excluding SLI and portable batteries. The system is designed to support Extended Producer Responsibility and align with initiatives such as the Production Linked Incentive scheme.

Ashok Leyland opens UP’s first electric bus manufacturing facility

Ashok Leyland has inaugurated an integrated electric vehicle manufacturing facility in Lucknow, Uttar Pradesh. The plant has an initial capacity of 2,500 vehicles per year, with plans to scale up to 5,000 units. Phase one involved an investment of about Rs 252 crore, with total planned investment of around Rs 1,000 crore. The facility includes a 1 MW rooftop solar plant and has received an IGBC Platinum rating.

India begins trials of first hydrogen powered train

India has started trial runs of its first hydrogen powered train on the Jind Sonipat section of Northern Railway. The train, developed by the Integral Coach Factory, is undergoing oscillation and emergency braking tests under the supervision of the Research Designs & Standards Organisation. Hydrogen fuel will be supplied from a dedicated production plant in Jind using electrolysis. The initiative marks a step toward cleaner rail transport.

Global

U.S. withdraws from ISA and key clean energy groups

The United States has announced its withdrawal from the UNFCCC and more than 60 international treaties and organisations, including the IPCC, IRENA, and the International Solar Alliance. The exit from the Paris Agreement is scheduled to take effect on 20 January 2026. The decision follows policy shifts during President Trump’s second term and reflects an America First approach. Analysts note potential impacts on global climate cooperation and clean energy diplomacy.

China revises export VAT rebates for solar and battery products

China has announced changes to export VAT rebates for photovoltaic and battery products, effective from 01 April 2026. Export VAT rebates will be withdrawn for several PV products, while battery rebates will be reduced from 9% to 6%, and eliminated entirely from 01 January 2027. The policy covers mainstream PV wafers, solar cells, modules, lithium ion batteries, vanadium redox flow batteries, and key upstream materials. The revision comes amid pressure on margins and rising trade scrutiny in global clean energy markets.