Power Sector News Roundup for January 6, 2026

India

Bondada Engineering wins Rs 627 crore BESS project in Andhra Pradesh

Bondada Engineering Limited has received a Letter of Award from AP TRANSCO for a 225 MW or 450 MWh standalone battery energy storage system in Andhra Pradesh under a build-own-operate model. The project will be installed at the 400 or 220 kV Hindupur substation in Anantapur District. Execution has been set at 18 months from the date of the LoA, taking Bondada’s BESS portfolio to nearly 1 GWh. The company expects long-term annuity-based revenue from the project and sees it as part of India’s grid-scale clean energy efforts.

Rajesh Power gets LoI for 65 MW / 130 MWh BESS project in Gujarat

Rajesh Power Services Limited has been issued a Letter of Intent by Gujarat Urja Vikas Nigam Limited to develop a 65 MW or 130 MWh standalone battery storage project at Virpore. The development is part of GUVNL’s Phase VII competitive bidding round supported through Viability Gap Funding under the Power System Development Fund. The project contributes to Gujarat’s broader 2,000 MW or 4,000 MWh BESS programme. Implementation will begin after execution of a BESPA, with completion targeted within 18 months from that date.

Waaree Energy raises Rs 1,003 crore for 20 GWh battery manufacturing plan

Waaree Energy Storage Solutions Private Limited has closed a funding round of about Rs 1,003 Crores from institutional investors, HNIs and family offices. The capital supports an earlier Rs 10,000 Crore spending plan for a 20 GWh lithium-ion cell and battery pack manufacturing facility. The company said the plant will cater to utility-scale storage, electric mobility and distributed energy needs. The disclosure was filed with NSE and BSE under Regulation 30 of SEBI listing norms.

Shakti Pumps and KLK Ventures secure new solar pump contracts under PM-KUSUM

Shakti Pumps (India) Limited has reported a Rs 23.54 Crore work order from the Haryana Renewable Energy Department for 792 solar water pumping systems under PM-KUSUM Component B, to be completed in 90 days. KLK Ventures Private Limited has received a separate order in Maharashtra for 1,000 pumps including 3 HP, 5 HP and 7.5 HP systems. Both contracts aim to support irrigation and reduce fuel and electricity costs for farmers. The developments indicate continued momentum under PM-KUSUM.

CG Power emerges as L1 bidder for Rs 334 crore Power Grid transformer tender

CG Power and Industrial Solutions Limited has emerged as the lowest bidder in Power Grid Corporation of India Limited’s bulk procurement tender for 400 kV transformers under Lot 5. The package includes six 500 MVA transformers, five 315 MVA units and four 105 MVA transformers with associated systems. The contract is valued at Rs 333.7 crores, with the date recorded as 02 January 2026. Portal data indicates one bid with CG Power declared qualified.

IEX reports higher power trade volumes in Q3 FY 2026 with softer prices

Indian Energy Exchange Limited has posted 101.68 BU of traded electricity in nine months of FY 2026, up 14.3 percent year-on-year, with Q3 FY 2026 volumes at 34.08 BU. Average prices declined in Q3 due to better availability from hydro, wind and coal-based power. The Real Time Market rose sharply, while the Day Ahead Market moderated and green power trade increased modestly. REC trading declined during the quarter, with the next sessions scheduled for January 14 and January 28, 2026.

Tata Power Renewable installs 1 GWp rooftop solar in nine months of FY 2026

Tata Power Renewable Energy Limited has installed 1 GWp of rooftop solar in nine months of FY 2026, up 127 percent from 444.78 MWp last year, with new customers reaching about 1.7 lakh. Total rooftop users now exceed 3 lakh, and overall rooftop capacity has crossed 4 GWp. The company reported strong Q3 additions and highlighted leading states including Uttar Pradesh, Maharashtra and Gujarat. TPREL said the programme supports the Pradhan Mantri Surya Ghar Yojana and national solar adoption efforts.

Adani Group commences work on 570 MW Wangchhu project

Gautam Adani announced that the Adani Group and Bhutan signed an MoU for 5,000 MW hydropower development, alongside the formal commencement of the 570 MW Wangchhu project. The project is being developed by Wangchhu Hydroelectric Power Limited, a joint venture formed in October 2025 between Druk Green Power Corporation and Adani Power Limited. DGPC holds 51 percent and Adani Power owns 49 percent, with authorised capital of BTN 30 billion and an initial BTN 490 million contribution from Adani. The project will generate power within Bhutan’s hydro sector and is framed as strengthening bilateral cooperation.