Power Sector News Roundup for June 26, 2026
NHPC, ONGC Green sign MoU to develop pumped storage, renewable projects
NHPC Limited and ONGC Green Limited (OGL) have signed a Memorandum of Understanding (MoU) to jointly explore pumped storage projects (PSPs) and other renewable energy projects across India. The agreement covers the identification, evaluation, development and implementation of projects by leveraging the strengths of both companies. NHPC currently has over 7,900 MW of proposed PSP capacity under survey and investigation across multiple states. The partnership aims to enhance energy storage capacity, support renewable energy integration and strengthen grid flexibility.
Kalpataru Projects exits Kohima-Mariani Transmission with final stake sale
Kalpataru Projects International Limited (KPIL) has completed the sale of its remaining approximately 26% equity stake in Kohima-Mariani Transmission Limited (KMTL) to Apraava Energy Private Limited, completing its exit from the transmission project. The transaction concludes a divestment process that began in 2019. KMTL was established to develop transmission infrastructure under the North Eastern Region Strengthening Scheme (NERSS-VI). The project includes two 400 kV double-circuit transmission lines and a 400/220 kV, 2×500 MVA substation at New Kohima.
Tamil Nadu white paper: Rs 2.47 lakh crore debt, tariff freeze and 231 new substations planned
The Tamil Nadu government has announced that it will not pass on the 3.57% annual electricity tariff revision to consumers this year, while revealing that the cumulative debt of the state’s four power corporations has reached Rs 2.47 lakh crore. The White Paper outlines a Rs 49,532 crore reform programme, including renovation of 682 substations, completion of 121 substations under construction and development of 231 new substations. It also proposes long- and medium-term open access to reduce power procurement costs by around Rs 215 crore per month. The government confirmed continuation of the free electricity scheme for farmers and plans to recruit around 20,000 personnel this year.
Adani Power gets EAC nod for 3,200 MW coal plant near Brahmaputra in Assam
The Expert Appraisal Committee (EAC) has recommended Environmental Clearance for Adani Power Limited’s proposed 3,200 MW ultra super critical coal-based thermal power project in Assam. The project will comprise four units of 800 MW each and will be developed across 585 hectares in Dhubri district. The committee has prescribed several environmental safeguards, including 100% rail-based coal transportation, Zero Liquid Discharge and 100% ash utilisation. The project forms part of the Adani Group’s proposed investment of around Rs 63,000 crore in Assam.
NCLAT stays insolvency proceedings against Vikram Solar
The National Company Law Appellate Tribunal (NCLAT) has stayed the corporate insolvency resolution process initiated against Vikram Solar Limited by the National Company Law Tribunal (NCLT), Kolkata Bench. The interim relief suspends the insolvency proceedings until the next hearing scheduled for June 29, 2026. Vikram Solar has agreed to deposit the admitted claim of Rs 91,98,556 as a full and final settlement. The company said it remains financially sound, reporting FY26 revenue of Rs 4,802.25 crore and profit after tax of Rs 470.42 crore.
L&T completes sale of Nabha Power to Torrent Power
Larsen & Toubro Limited (L&T) has completed the sale of Nabha Power Limited to Torrent Power Limited after receiving all required regulatory approvals. L&T Power Development Limited received Rs 3,632.35 crore at closing after applicable adjustments. Torrent Power has acquired 100% ownership of the company, which operates a 2×700 MW coal-based supercritical thermal power plant in Punjab. The plant supplies power under long-term power purchase agreements with Punjab State Power Corporation Limited.
SWELECT to acquire 49% stake in 80 MW solar project SPV
SWELECT Energy Systems Limited will acquire a 49% equity stake in Gridnex Solar Power Private Limited through its wholly owned subsidiary, SWELECT SolarKraft Private Limited, for Rs 4.31 crore. Gridnex Solar is developing eight grid-connected solar PV projects of 10 MW each, totalling 80 MW, under the PM KUSUM-C scheme. Apollo Green Energy Limited will retain management and operational control of the company. The electricity generated will be supplied to Madhya Pradesh Power Management Company Limited (MPPMCL).
Jupiter expands solar cell capacity to 3.25 GW with new TOPCon line
Jupiter International Limited has commissioned a new 1.25 GW TOPCon solar cell manufacturing line at its Baddi campus in Himachal Pradesh. The Rs 550 crore investment increases the company’s total solar cell manufacturing capacity from 2 GW to 3.25 GW. The facility now comprises 2 GW of monocrystalline PERC cells and 1.25 GW of TOPCon cells. The company is also developing a 3 GW TOPCon cell facility and a 1.5 GW solar module facility in Nagpur.
HERC affirms captive open access rights, subject to grid security
The Haryana Electricity Regulatory Commission (HERC) has directed Haryana Vidyut Prasaran Nigam Limited (HVPNL) to grant a No Objection Certificate to Jindal Stainless Limited for sourcing 100 MW of Round-the-Clock renewable power from captive ISTS-connected wind-solar hybrid projects. The Commission ruled that denying long-term open access while reserving transmission capacity for Temporary General Network Access was not legally sustainable. Jindal Stainless agreed to accept curtailment of up to 100 MW during constrained periods without compensation. HERC directed HVPNL to develop operational protocols within two weeks before issuing the NOC.
CTUIL issues SOP for force majeure and change in law claims
Central Transmission Utility of India Limited (CTUIL) has issued a final Standard Operating Procedure for processing force majeure and change in law claims under Transmission Service Agreements. Transmission Service Providers must submit claims within prescribed timelines, supported by detailed documentation and statutory auditor certificates for change in law claims. CTUIL has also constituted a committee comprising representatives from CTUIL, the Central Electricity Authority, Regional Power Committees and DISCOMs to evaluate claims. The advisory takes immediate effect.
Bluspring unit secures Rs 1,626 crore Vedanta O&M contract extensions
Bluspring Enterprises Limited said its wholly owned step-down subsidiary, STEAG Energy Services (India) Private Limited, has secured two five-year operations and maintenance contract extensions from Vedanta Group companies worth a combined Rs 1,626.28 crore. The contracts take effect from July 1, 2026. They cover a 600 MW thermal power plant for Vedanta Power Limited and Units 1, 3 and 4 of a 1,800 MW thermal power plant for Vedanta Aluminium Metal Limited. The company stated that the contracts do not involve related party transactions.
Transrail secures Rs 459 crore transmission orders in MENA region
Transrail Lighting Limited has secured international transmission and distribution orders worth approximately Rs 459 crore, mainly in the Middle East and North Africa region. The contracts are for engineering, procurement and construction of transmission lines. With these orders, the company’s FY27 order inflow has reached Rs 1,034 crore. Transrail also holds the lowest bidder position for projects worth around Rs 400 crore.
POWERGRID to convert Tamil Nadu’s single-circuit 400 kV line to quad double-circuit by 2028
POWERGRID Corporation of India Limited has approved an investment of Rs 772.65 crore to convert the Udumalpet–Madurai 400 kV single-circuit transmission line into a quad double-circuit line in Tamil Nadu. The project will be completed within 30 months, with a targeted completion date of August 11, 2028. The upgrade will increase power transfer capacity and improve grid reliability. It is also expected to facilitate evacuation of additional renewable energy.
Powerica incorporates renewable energy subsidiary Windfusion Renewable
Powerica Limited has incorporated Windfusion Renewable Private Limited as a wholly owned subsidiary to develop wind, solar and hybrid renewable energy projects. The company has invested Rs 25 lakh through subscription to 2,50,000 equity shares. Windfusion Renewable will undertake the development and construction of renewable power projects across India. No regulatory approvals were required for the incorporation.
NTPC incorporates Mauritius subsidiary for floating solar, BESS projects
NTPC Limited has incorporated NTPC (Mauritius) Energy Limited as a wholly owned subsidiary to develop Floating Solar Photovoltaic projects with Battery Energy Storage Systems and other power projects in Mauritius. The subsidiary has an authorised capital of 1,000,000 Mauritius Rupee, equivalent to approximately Rs 19.8 lakh. NTPC will hold 100% ownership through cash subscription. The company said the subsidiary has not yet commenced operations.
POWERGRID board approves higher borrowing limit, USD 500 million ECB
POWERGRID Corporation of India Limited has approved an increase in its borrowing limit from Rs 1,80,000 crore to Rs 2,20,000 crore, subject to shareholder approval. The Board also approved raising up to USD 500 million through External Commercial Borrowings from Bank of Baroda. The additional funding will support the company’s capital expenditure programme. The company also approved the General Information Document for FY27 debenture issuances through private placement.
Roofsol Energy secures Rs 260 crore financing for C&I solar portfolio
Roofsol Energy has secured Rs 260 crore in financing from Aseem Infrastructure Finance to expand its commercial and industrial solar independent power producer portfolio. The funding will support projects including installations for JK Tyre & Industries Ltd and around 100 MWp of additional C&I solar capacity. The company said the investment will strengthen its renewable energy portfolio under the IPP model. Aseem Infrastructure Finance is an RBI-registered Infrastructure Finance Company.
Odisha targets 11 GW renewable capacity by 2030, approves 16 projects worth Rs 2 lakh crore
Odisha has set a target of achieving 11 GW of renewable energy capacity by 2030 and has approved 16 projects worth around Rs 2 lakh crore. The state also plans to invest another Rs 30,000 crore in transmission infrastructure to support renewable energy integration. Investment proposals worth Rs 67,000 crore covering 6.7 GW of renewable capacity have already been received. Battery energy storage, green hydrogen and green ammonia projects also form part of the state’s clean energy strategy.