Power Sector News Roundup for July 22, 2026
TARIL posts Rs 572 crore Q1 revenue, order inflows jump 218%
Transformers and Rectifiers (India) Limited (TARIL) reported consolidated revenue from operations of Rs 572.34 crore for the quarter ended June 30, 2026, up 8% year-on-year. Consolidated PAT stood at Rs 64.34 crore and EBITDA at Rs 109.65 crore, with an EBITDA margin of 19.16%. Fresh order inflows rose 218% to Rs 2,114 crore, while the unexecuted order book reached a record Rs 6,630 crore. The company expects its Changodar expansion project, currently affecting capacity utilisation, to be completed by August 2026.
Pace Digitek’s subsidiary opens battery R&D centre in Pune
Pace Digitek Limited’s subsidiary, Lineage Power Private Limited (LPPL), has established the Pace-Lineage Research Center in Pune for Advanced Chemistry Cells (ACC) and energy storage technologies. The facility will focus on lithium-ion and sodium-ion battery materials, including research on battery capacity, cycling stability and electrolytes. LPPL has also entered into a research collaboration with the Indian Institute of Science Education and Research (IISER), Pune. The initiative supports the company’s plans to expand its capabilities in advanced battery technologies.
Bondada wins EPC contract for 100 MWh VRFB project at Khavda
Bondada Engineering Limited has received a Notification of Award (NOA) from NTPC Renewable Energy Limited (NTPC REL) for the EPC package of a 100 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS) at Khavda Solar Park, Gujarat. The project will be executed with Delectrik Systems Pvt Ltd as the technology partner and includes 10 years of operations and maintenance. The project is scheduled for completion within 10 months from receipt of the NOA. Bondada described it as India’s first and largest grid-scale VRFB BESS installation.
Kalpa Power secures 100 MWh BESS supply from Lineage Power
Kalpa Power has signed a memorandum of understanding (MoU) with Lineage Power Private Limited (LPPL) to secure 100 MWh of Battery Energy Storage System (BESS) capacity. The battery systems will support Kalpa Power’s WATTBANK deployments across rooftop solar, open access and hybrid renewable energy projects for Commercial & Industrial (C&I) customers. The company currently has nearly 80 MWh under deployment and plans to expand this to 500 MWh by 2028. Kalpa Power is also targeting a renewable energy portfolio of 5 GW by 2030.
Oriano commissions 112 MWp solar project in Maharashtra
Oriano Clean Energy has commissioned a 112 MWp solar project for Hexa Climate Solutions Pvt. Ltd. at Wardha, Maharashtra. The turnkey EPC project included a double bus bar 132 kV Pooling Substation (PSS), approvals from Maharashtra State Electricity Transmission Company Limited (MSETCL) and Maharashtra Energy Development Agency (MEDA), and operations and maintenance responsibilities. Following the commissioning, Oriano secured an additional 84 MWp solar project at Kadapa, Andhra Pradesh. The new project will include two 132 kV Pooling Substations (PSS) and a Grid Substation (GSS).
ACME Solar signs 300 MW hybrid PPA, commissions 160 MWh BESS
ACME Solar Holdings Limited has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a 300 MW wind-solar hybrid project at a tariff of Rs 3.25 per unit. The project is scheduled to commence power supply from June 30, 2028. Separately, ACME Suryodaya Private Limited commissioned 160.512 MWh of Battery Energy Storage System (BESS) capacity in Rajasthan, with a Commercial Operation Date (COD) of July 22, 2026. Following these developments, ACME Solar’s contracted portfolio has reached 8,070 MW.
Atlanta Electricals reports 48% revenue growth in Q1 FY27
Atlanta Electricals Limited reported consolidated revenue from operations of Rs 466.33 crore for the quarter ended June 30, 2026, up 48.0% year-on-year. EBITDA rose 58.1% to Rs 77.10 crore, while PAT increased 50.4% to Rs 46.84 crore. The company’s order book stood at Rs 3,116.63 crore, with Q1 FY27 order inflows of Rs 972.42 crore. During the quarter, it secured a Rs 291.68 crore order from Rajasthan Rajya Vidyut Prasaran Nigam Ltd. (RRVPNL) for the supply of power transformers.
SECI awards 1,344 MW under pumped storage tender
The Solar Energy Corporation of India (SECI) has awarded 1,344 MW under its 1,500 MW/12,000 MWh pumped storage tender issued in December 2025. Greenko Energies Private Limited secured 720 MW, Tata Power Company Limited won 324 MW, and Torrent Energy Storage Solutions Private Limited was awarded 300 MW. A total of 156 MW remained unawarded. The selected developers will establish, own and operate pumped storage projects and provide storage capacity to buying entities on an on-demand basis.
Adani Energy’s Q1 profit jumps 130% on transmission, smart metering growth
Adani Energy Solutions Limited (AESL) reported consolidated total income of Rs 9,852 crore for the quarter ended June 30, 2026, an increase of 40% year-on-year. EBITDA reached a record Rs 3,178 crore, while PAT rose 130% to Rs 1,237 crore. Operational revenue stood at Rs 7,117 crore, supported by contributions from the Mumbai High Voltage Direct Current (HVDC) project, smart metering and the Energy Solutions Platform. The company also reported cumulative installation of 13.44 million smart meters during the quarter.
KPI Green commissions 200 MW AC solar capacity for Coal India at Khavda
KPI Green Energy Limited has commissioned 200 MW (AC) / 269 MW (DC) of solar capacity under a larger 300 MW (AC) / 405 MW (DC) project being developed for Coal India Limited at Gujarat Industries Power Company Limited’s (GIPCL) Solar Park in Khavda, Gujarat. The commissioned capacity has been certified by the Gujarat Energy Development Agency (GEDA). The project is being executed on an EPC basis, with the remaining 100 MW (AC) / 136 MW (DC) yet to be commissioned. KPI Green aims to build a 10 GW clean energy portfolio by 2030.
RECPDCL incorporates SPV for 400 kV switching station in Maharashtra
REC Power Development and Consultancy Limited (RECPDCL) has incorporated Dharashiv Power Transmission Limited as a Special Purpose Vehicle (SPV) for the “Establishment of 400 kV GIS Solapur/Paranda Switching Station (Dist. – Dharashiv)” project in Maharashtra. The project will be implemented through the Tariff Based Competitive Bidding (TBCB) route on a Build, Own, Operate and Transfer (BOOT) basis. The SPV was incorporated on July 21, 2026, with an authorised and paid-up share capital of Rs 5,00,000 each. The project’s primary transmission elements are scheduled to achieve Commercial Operation Date (COD) within 24 months.
Rajesh Power Services wins Rs 40.58 crore PGVCL contract
Rajesh Power Services Limited has secured a turnkey contract worth approximately Rs 40.58 crore, inclusive of taxes, from Paschim Gujarat Vij Company Limited (PGVCL). The contract covers the supply, installation, testing and commissioning of 11 kV Medium Voltage Covered Conductor (MVCC) and associated works across 11 kV feeders in PGVCL’s Jamnagar Circle. The project is to be executed within 12 months. The order has been received in the normal course of business and is domestic in nature.
Servotech reports 58% rise in Q1 revenue, PAT up 75%
Servotech Renewable Power System Ltd. reported consolidated total revenue of Rs 21,629.41 lakh for Q1 FY27, registering a 57.69% increase over the corresponding quarter last year. Consolidated PAT rose 74.51% to Rs 794.11 lakh, while EBITDA increased 93.35% to Rs 2,094.33 lakh. On a standalone basis, total revenue grew 66.31% to Rs 20,811.19 lakh. The company attributed the performance to demand across its EV charging, solar and battery storage businesses.
ANDRITZ completes EPS works for NHPC’s 510 MW Teesta-V project
ANDRITZ has completed the Electrical Package System (EPS) works for NHPC Limited’s 510 MW Teesta-V Hydroelectric Project in Sikkim. The company achieved synchronisation of all three generating units with the national grid in July 2026 after completing the engineering, manufacturing and delivery of major high-voltage equipment within the contractual timeline of 12 months. Installation of the 400 kV Gas Insulated Switchgear (GIS) was completed in 45 days, representing a 50% reduction from the planned schedule. The scope included a 400 kV GIS, 400 kV XLPE cable system and associated Balance of Plant (BoP) electrical systems.
MNRE adds Avaada, expands Fujiyama capacity under ALMM List-II
The Ministry of New and Renewable Energy (MNRE) has issued the eighth revision of the Approved List of Models and Manufacturers (ALMM) List-II for solar photovoltaic (PV) cells. Avaada Electro Limited has been added with an approved annual manufacturing capacity of 610 MW at its Nagpur, Maharashtra facility for N-type TOPCon solar cells. Fujiyama Power Systems Ltd. has received approval for an additional 1,077 MW of bifacial mono-crystalline silicon Passivated Emitter and Rear Cell (PERC) solar cell manufacturing capacity at Dadri, Uttar Pradesh. The revision reflects continued expansion of India’s domestic solar cell manufacturing ecosystem.