Power Sector News Roundup for June 1, 2026
NTPC commissions additional 34.4 MW at Ramagundam solar project
NTPC Limited has declared the commercial operation of the second part capacity of 34.4 MW from its 176 MW Solar Photovoltaic (PV) Project at Ramagundam, Telangana, with effect from 00:00 hours on June 1, 2026. Following the latest commissioning, NTPC’s total installed capacity at the group level has increased to 90,807 MW, while its commercial capacity has risen to 88,927 MW. The company made the disclosure under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The latest addition completes the phased commissioning of the 176 MW Solar PV Project.
Bajel, Kalpataru, Skipper in race for MP’s 600 MW solar evacuation project
Madhya Pradesh Power Transmission Company Limited (MPPTCL) has admitted technical bids from Bajel Projects Limited, Kalpataru Projects International Limited, and Skipper Limited for a turnkey transmission project linked to the 600 MW Morena Phase-1 Solar Park in Madhya Pradesh. The project is being implemented under the Madhya Pradesh Renewable Energy Scaling Up Project and is partially financed by the Asian Development Bank (ADB). The estimated contract value is at least Rs 520 crore (US $62 million). The scope includes construction of a 400 kV substation at Sabalgarh, associated transmission lines, and pooling substations linked to the solar park.
IREDA posts record Rs 1,873 crore profit in FY26
Indian Renewable Energy Development Agency (IREDA) posted its highest-ever profit after tax (PAT) of Rs 1,873 crore for FY 2025-26, up 10% from Rs 1,699 crore in FY25. Revenue from operations increased 23% year-on-year to Rs 8,309 crore, while the company’s loan book expanded 22% to Rs 93,069 crore as of March 31, 2026. Loan sanctions rose 39% to Rs 51,883 crore and disbursements increased 16% to Rs 34,946 crore during the year. Gross non-performing assets (NPA) increased to 3.49% from 2.45%, while net NPA improved marginally to 1.29%.
RVUNL awards 53 km transmission line contract for Pugal solar park
Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) has awarded a transmission infrastructure contract worth about Rs 83.69 crore to a joint venture of Mohan Energy Corporation Pvt. Ltd. and Shilpa Steel and Power Ltd., Nagpur. The project is linked to the 3,310 MW solar park in Tehsil Pugal, Bikaner. The scope includes survey, supply, erection, testing, and commissioning of 53 km of 400 kV transmission lines. The infrastructure will connect four park pooling substations and facilitate power evacuation to the Rajasthan Rajya Vidyut Prasaran Nigam (RVPN) proposed grid substation at Pugal.
Adani Energy Solutions appoints Ashok Jagetiya as CFO
Adani Energy Solutions Limited has appointed Ashok Jagetiya as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) with effect from May 31, 2026. The appointment was approved by the Board based on recommendations of the Nomination and Remuneration Committee and Audit Committee. Jagetiya is a chartered accountant with around three decades of experience in finance and accounting. He has previously held senior leadership positions at Adani Wilmar Limited, Adani Green Energy Limited, and Adani Global Pte Limited, Singapore.
RMC Switchgears reports 26.4% revenue growth in FY26
RMC Switchgears Limited reported consolidated revenue from operations of Rs 401.59 crore for FY26, registering a year-on-year growth of 26.40%. The company recorded EBITDA of Rs 47.10 crore and PAT of Rs 22.45 crore during the year. In Q4 FY26, revenue from operations stood at Rs 142.94 crore, while PAT reached Rs 9.30 crore, compared to a loss of Rs 7.07 crore in Q3 FY26. The company attributed pressure on profitability during the year to higher commodity prices, currency fluctuations, and global supply chain challenges.
POWERGRID, Resonia and Dilip Buildcon acquire four TBCB transmission SPVs
Four special purpose vehicles (SPVs) linked to transmission projects under the tariff-based competitive bidding (TBCB) framework changed ownership between May 29 and May 30, 2026. Power Grid Corporation of India Limited (POWERGRID) acquired Tumkur II RE Transmission Limited for about Rs 15.46 crore. Resonia Limited acquired Kurnool IV REZ Power Transmission Limited and Hampapura Power Transmission Limited in separate transactions. Dilip Buildcon Limited acquired Mekhali Power Transmission Limited for approximately Rs 8.06 crore.
NHPC begins construction work for 240 MW Uri-I Stage-II project
NHPC Limited has commenced construction activities for the 240 MW Uri-I Stage-II Hydro Electric (HE) Project in Baramulla district of Jammu & Kashmir. Chairman and Managing Director (CMD) Bhupender Gupta inaugurated the works on May 31, 2026, by initiating the first blast for Adit-3A to the Head Race Tunnel (HRT). The project will be developed under the build-own-operate-transfer (BOOT) model with a 40-year concession period. NHPC had signed the implementation agreement with Jammu & Kashmir State Power Development Corporation Limited (JKSPDCL) in March 2026.
Kosol Energie’s Koraam secures fourth MSEDCL solar pump order under PM-KUSUM
Koraam, the agricultural solar solutions vertical powered by Kosol Energie Pvt. Ltd., has secured its fourth order from Maharashtra State Electricity Distribution Company Limited (MSEDCL) under the Magel Tyala Saur Krushi Pump Yojana (MTSKPY). The latest order covers installation of 2,933 solar water pumps across Maharashtra. The project includes design, manufacturing, supply, installation, testing, commissioning, and after-sales support. The deployment forms part of the Government of India’s PM-KUSUM scheme for solar-powered irrigation infrastructure.
UPPCL to levy 10% fuel surcharge on June 2026 electricity bills
Uttar Pradesh Power Corporation Limited (UPPCL) will levy a Fuel and Power Purchase Adjustment Surcharge (FPPAS) of 10% on electricity bills in June 2026 for all consumer categories. The surcharge is being implemented under the Uttar Pradesh Electricity Regulatory Commission (UPERC) Multi Year Tariff (MYT) for Distribution Regulations, 2025. According to a circular issued on May 29, 2026, the FPPAS calculated for March 2026 will be recovered through June 2026 bills. The surcharge has been determined under Clause 16(4) of the MYT Regulations, 2025.
Renewable energy projects awarded via TBCB qualify as PPP projects, SEBI clarifies
The Securities and Exchange Board of India (SEBI) has clarified that renewable energy projects awarded through tariff-based competitive bidding (TBCB) qualify as Public-Private Partnership (PPP) projects under the InvIT Regulations, 2014. The clarification was issued in response to a request from Sustainable Energy Infra Investment Managers Private Limited. SEBI stated that renewable energy generation projects awarded through open competitive bidding or memorandum of understanding (MoU) qualify as PPP projects under Regulation 2(1)(zm). The regulator also noted that electricity generation, transmission, and distribution are included in the Harmonized Master List of infrastructure sub-sectors notified by the Ministry of Finance.
Inox Wind posts weaker Q4 but guides for 75% revenue growth in FY27
Inox Wind Limited reported a consolidated net profit of Rs 91.3 crore for the quarter ended March 2026, down 51.1% from Rs 186.8 crore in the year-ago period. Revenue from operations declined 2.4% year-on-year to Rs 1,244.2 crore, while EBITDA fell 21.5% to Rs 200 crore. The company attributed the decline to geopolitical disruptions affecting equipment supply and logistics operations, along with delayed customer payments. Inox Wind ended FY26 with an order book of around 3.1 GW and fresh orders of nearly 600 MW during the year.
MNRE directs developers to use DCR portal for ALMM extension requests
The Ministry of New and Renewable Energy (MNRE) has directed renewable power developers seeking additional commissioning time beyond June 1, 2026, to submit requests only through the Domestic Content Requirement (DCR) portal. The advisory follows the implementation of Approved List of Models and Manufacturers (ALMM) norms for solar cells from June 1, 2026. MNRE stated that only developers falling within eligible categories specified in its Office Memorandum dated May 25, 2026, will be considered for extensions. The ministry also clarified that physical applications will not be accepted.
FAC clears 1,200 MW Kalai-II hydro project in Arunachal Pradesh
The Forest Advisory Committee (FAC) has granted in-principle forest clearance to the 1,200 MW Kalai-II hydroelectric project on the Lohit River in Arunachal Pradesh. The project involves diversion of around 869 hectares of forest land and is being developed by THDC India Limited at an estimated cost of Rs 14,176.26 crore. The run-of-the-river project includes a 128.5 metre concrete gravity dam and underground powerhouse. The project is expected to generate about 4,852.95 million units annually and is targeted for completion within 78 months.
Kalpataru secures new orders worth Rs 2,002 crore
Kalpataru Projects International Limited (KPIL) and its international subsidiaries have secured new orders and notifications of award worth around Rs 2,002 crore. The orders cover power transmission and distribution projects in overseas markets, buildings and factories projects in India, and railway projects in India. The company stated that the new wins strengthen its presence in high-growth transmission and distribution markets in the Middle East and Nordic region. KPIL recently reported consolidated revenue of Rs 27,143 crore for FY26.
Suzlon appoints Ashok Ramachandran as India Business President
Suzlon Energy Limited has appointed Ashok Ramachandran as President – India Business and Senior Managerial Personnel (SMP), effective June 4, 2026. Ramachandran has over 20 years of leadership experience across the energy, industrial products, and vertical mobility sectors. Before joining Suzlon, he served as Chief Operating Officer and board member at JSW. Suzlon stated that Ramachandran will report to the Group Chief Executive Officer (CEO).
Adani Green commissions 50 MW solar project at Khavda
Adani Green Energy Limited (AGEL) has operationalised a 50 MW solar power project at Khavda, Gujarat, through Adani Hybrid Energy Jaisalmer Five Limited. Following the commissioning, AGEL’s total operational renewable energy generation capacity has increased to 19,835.8 MW. The company’s operational Battery Energy Storage System (BESS) capacity stands at 3,366 MWh. AGEL stated that power generation from the project commenced on June 1, 2026, after receiving the required clearances.