Power Sector News Roundup for July 23, 2026
Midwest Energy starts commercial production at 1.2 GWh BESS facility
Midwest Energy Limited has started commercial production at its Battery Energy Storage System (BESS) manufacturing facility in Bengaluru. The facility has an annual manufacturing capacity of 1.2 GWh and serves commercial, industrial, renewable energy and utility-scale applications. It currently operates at 1 GWh annual production capacity, with plans to expand to 3 GWh. The company is also expanding into permanent magnet manufacturing with a Hyderabad facility planned to scale from 500 TPA to 5,000 TPA.
Inox Green board approves fundraising plan of up to Rs 600 crore
Inox Green Energy Services Limited (IGESL) has approved a proposal to raise up to Rs 600 crore through the issuance of securities. The proposal includes a base issue size of up to Rs 400 crore and a green shoe option of up to Rs 200 crore. The fundraising may be undertaken through preferential allotment, private placement, Qualified Institutions Placement (QIP), or a combination of these methods. The proposal remains subject to shareholder and regulatory approvals.
Adani Power Q1 profit rises 42%; board clears Rs 15,000 crore fundraise
Adani Power Limited (APL) reported consolidated net profit attributable to equity holders of Rs 4,805.69 crore in Q1 FY27, up 42% from Rs 3,384.86 crore a year earlier. Revenue from operations increased 34% year-on-year to Rs 18,901.89 crore, while power sales rose 16.9% to 28.8 billion units. The board approved raising up to Rs 15,000 crore and increasing borrowing limits from Rs 75,000 crore to Rs 1,00,000 crore. The company continues to target 45 GW of installed capacity, with the 1,320 MW Korba Phase-II project expected this year.
JSW Energy PAT falls 36% despite record renewable capacity addition
JSW Energy Limited reported a 36% decline in consolidated profit after tax (PAT) to Rs 532.70 crore during Q1 FY27. The company added 1,081 MW during the quarter, taking total installed capacity to 14,535 MW, with renewable energy accounting for 61% of the portfolio. Revenue from operations remained largely unchanged at Rs 5,207.13 crore, while EBITDA rose 2% to Rs 3,103 crore. Higher depreciation and finance costs linked to expansion weighed on profitability.
Bajel Projects signs Egypt contract for 500 kV transmission lines
Bajel Projects Limited has signed an agreement with the Egyptian Electricity Transmission Company (EETC) for two sections of a 500 kV overhead transmission line in Egypt. The contract covers Lot 1 and Lot 5 of Egypt’s national grid reinforcement programme. The company classified the order under its ultra-mega category, indicating a value of more than Rs 400 crore. The project strengthens Bajel Projects’ presence in international transmission markets and the MENA region.
Waaree Renewable posts 53% revenue growth in Q1 FY27
Waaree Renewable Technologies Limited (WRTL) reported consolidated revenue from operations of Rs 924.25 crore in Q1 FY27, up 53.23% from Rs 603.19 crore a year earlier. PAT increased 37.70% to Rs 118.97 crore, while EBITDA rose 47.58% to Rs 173.48 crore. The company ended the quarter with an unexecuted order book exceeding Rs 5,300 crore. During the quarter, WRTL acquired a 55% stake in Associated Power Structures Private Limited (APSPL) and secured a 1,520 MWh BESS project and a 450 MWp solar project.
Saatvik subsidiary secures Rs 138 crore solar module supply order
Saatvik Green Energy Limited announced that its subsidiary, Saatvik Solar Industries Private Limited, has secured a domestic solar photovoltaic module supply order worth Rs 138 crore. The supplies are scheduled for completion by December 2026. The company stated that the awarding entity is a reputed independent power producer/EPC player and that the transaction is not a related-party transaction. The order follows a Rs 171.45 crore module supply contract secured in May 2026.
PGCIL board approves higher borrowing limits for FY27 and FY28
Power Grid Corporation of India Limited (PGCIL) has approved proposals to enhance its borrowing capacity for FY 2026-27 and FY 2027-28. The borrowing limit for FY 2026-27 has been increased from Rs 30,000 crore to Rs 35,000 crore, while a similar limit has been approved for FY 2027-28. The proposals are subject to shareholder approval at the forthcoming Annual General Meeting (AGM). The funds are expected to support ongoing transmission infrastructure investments.
J&K’s 3,000 MW hydro pipeline faces mounting delays and cost overruns
Four hydroelectric projects in Jammu & Kashmir—1,000 MW Pakal Dul HEP, 624 MW Kiru HEP, 540 MW Kwar HEP and 850 MW Ratle HEP—are facing delays, according to the Ministry of Power. Pakal Dul and Kiru have reported combined cost overruns exceeding Rs 5,700 crore, while Kwar and Ratle have not reported any escalation. Pakal Dul’s cost has risen from Rs 8,112 crore to Rs 12,728 crore, with completion delayed to March 2027. The ministry attributed the delays to factors including Covid-19, geological issues, weather events and local disruptions.
Advait unit partners Adaptive Engineering for BESS platform
Advait Battery Ecosystems, a subsidiary of Advait Energy Transitions, has partnered with Adaptive Engineering to develop an integrated Battery Energy Storage System (BESS) manufacturing and solutions platform in India. The partnership covers utility-scale and Commercial & Industrial (C&I) applications across the BESS value chain. Advait has secured land, commenced civil works and is targeting commissioning by November 2026. Adaptive Engineering brings experience across more than 68 GW of renewable energy projects and 1.4 GWh of EMS-BESS deployments.
Viviana commissions 400 kV line for 323 MW Gujarat wind project
Viviana Power Tech Limited has commissioned a 400 kV double-circuit (D/C) loop-in loop-out (LILO) transmission line for a 323.4 MW wind park in Kachchh, Gujarat. The transmission line was energised on July 10, 2026, and includes a 765 kV under-crossing, a ±500 kV HVDC under-crossing, and a 400 kV overhead crossing. The company completed a 200-metre live-line stringing section without requiring a grid shutdown. As of July 21, 2026, Viviana Power Tech reported a confirmed order book of approximately Rs 1,340 crore.
Suzlon wins 201 MW wind EPC order from Waaree Group
Suzlon Energy Limited has secured a 201.6 MW wind energy order from Waaree Forever Energies Private Limited (WFEPL) in Andhra Pradesh. The project involves the supply of 64 S144 wind turbine generators rated at 3.15 MW each. Suzlon’s scope includes land acquisition, balance of plant works, commissioning, and lifetime operations and maintenance services. Following the award, Suzlon’s cumulative order book in Andhra Pradesh has reached nearly 1 GW.