Power Sector News Roundup for June 3, 2026

PFC appoints V. Packirisamy as Director (Commercial)

Power Finance Corporation Limited (PFC) has announced that Shri V. Packirisamy has taken charge as Director (Commercial) on its Board with effect from June 2, 2026. Shri Packirisamy will continue in the role until his superannuation or until further orders, whichever is earlier. He has been associated with PFC since January 1997 and brings more than 33 years of professional experience to the position. During his career at PFC, he has worked in areas such as credit appraisal, rating of power utilities, power sector reforms and restructuring, financial analysis of borrowers, and preparation of Operational & Financial Action Plans (OFAP).

Solarium Green Energy reports 60% rise in FY26 revenue

Solarium Green Energy Limited reported a 60% increase in revenue from operations to Rs 368 crore for the financial year ended March 31, 2026, driven by its strategic shift towards large-scale Engineering, Procurement, and Construction (EPC) projects. The company reported profit after tax (PAT) of Rs 20 crore and earnings before interest, taxes, depreciation and amortisation (EBITDA) of Rs 35 crore for FY26. Total income increased to Rs 373.01 crore from Rs 231.09 crore in FY25, representing year-on-year growth of 61.41%. During FY26, the company secured a 50 MW solar project in Maharashtra with a contract value exceeding Rs 185 crore and reported an unexecuted order book of more than Rs 300 crore.

Haryana to begin smart metering on ground from August 31

Haryana has committed to commencing smart metering works on the ground from August 31, 2026, following a review meeting chaired by Union Minister for Power and Housing & Urban Affairs, Shri Manohar Lal. The Union Minister directed the State to prepare a detailed action plan for the Revamped Distribution Sector Scheme (RDSS) and improve the operational and financial performance of distribution companies (DISCOMs). He also called for reduction in aggregate technical and commercial (AT&C) losses and timely settlement of subsidy payments. Haryana committed to expediting smart meter contract awards and implementing a phased rollout beginning with government consumers and employees.

NGEL invites bids for 11,100 MWh BESS in Gujarat and Rajasthan

NTPC Green Energy Limited (NGEL) has invited bids for engineering, procurement and construction (EPC) packages to develop a combined 11,100 MWh battery energy storage system (BESS) capacity across solar projects in Rajasthan and Gujarat. The projects include a 7,800 MWh BESS at the NTPC REL Bikaner solar plant in Rajasthan and a 3,300 MWh BESS at the NTPC REL Khavda solar plant in Gujarat. The Rajasthan project comprises five blocks with capacities ranging from 300 MW/1,200 MWh to 550 MW/2,200 MWh, while the Gujarat project includes four blocks with capacities between 200 MW/600 MWh and 300 MW/900 MWh. The selected contractor will undertake turnkey execution along with operation and maintenance services for 15 years.

EAC backs FGD exemptions for two thermal power plants

The Expert Appraisal Committee (EAC) for Thermal Power projects has recommended exemptions from mandatory Flue Gas Desulphurization (FGD) installation for two thermal power plants under the Ministry of Environment, Forest and Climate Change’s July 2025 notification. Exemptions were recommended for Dhariwal Infrastructure Limited’s 2×300 MW thermal power plant in Maharashtra and Moxie Power Generation Limited’s 2×600 MW plant in Tamil Nadu, subject to additional environmental compliance measures. The EAC deferred similar requests from NTPC Limited’s Muzaffarpur Thermal Power Station in Bihar and Maharashtra State Power Generation Company Limited’s Chandrapur Super Thermal Power Station due to environmental compliance gaps. The committee sought additional pollution control measures, revised modelling studies, and compliance reports from the deferred projects.

Transrail sees strong T&D growth backed by Rs 16,361 crore order book

Transrail Lighting Limited has projected revenue growth of 20% to 22% for FY27, supported by an unexecuted order book of approximately Rs 16,361 crore, including L1 orders. The company stated that the domestic transmission and distribution (T&D) bidding pipeline stands at Rs 80,000 crore to Rs 1,00,000 crore, while the international pipeline is estimated at around Rs 50,000 crore. It expects fresh order inflows of Rs 10,000 crore to Rs 11,000 crore during FY27. The company also plans to increase tower manufacturing capacity to 1,96,000 metric tons and conductor manufacturing capacity to 49,500 kilometres.

NLCIL outlines nuclear, BESS and green energy plans

NLC India Limited (NLCIL) has announced multiple initiatives across nuclear power, renewable energy, battery energy storage systems (BESS), green hydrogen, and carbon capture during its Q4 FY26 Institutional Investors Meet. The company signed a memorandum of understanding with Nuclear Power Corporation of India Limited (NPCIL) to establish a joint venture for a 700 MW nuclear power station. NLCIL also reported a BESS pipeline totalling 2,800 MW-hour and is preparing a detailed project report for a 750 MW pumped storage project in Odisha. In addition, the company is developing a carbon capture pilot project at Neyveli and installing a 4 MW green hydrogen pilot project.

Government increases NHPC OFS size to 6% stake sale

The Government of India has exercised the oversubscription option for its Offer for Sale (OFS) of NHPC Limited shares, increasing the total stake sale from 3% to 6% of the company’s paid-up equity share capital. The total offer size now stands at 60,27,02,088 equity shares, with a floor price of Rs 71 per share. Under the revised structure, 10% of the total offer size has been reserved for retail investors, while the employee reservation has also been increased. The transaction is part of the Government’s broader disinvestment and asset monetisation strategy for central public sector enterprises (CPSEs).

Advait subsidiary signs BESPA with GUVNL for 150 MW BESS

Advait Energy Transitions Limited has announced that its wholly owned subsidiary, Advait BESS Bhesaan Private Limited, has executed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a standalone 150 MW/300 MWh battery energy storage system (BESS) project in Gujarat. The project will be developed near the 220 kV Bhesan substation of Gujarat Energy Transmission Corporation Limited (GETCO). The agreement is valid for 12 years from the effective date of signing. The project was awarded under GUVNL’s Phase-VIII tariff-based competitive bidding process supported through Viability Gap Funding (VGF).

Pace Digitek signs PPA for 250 MW solar-BESS project

Pace Digitek Limited has announced the signing of a power purchase agreement (PPA) between TRANSGREENX and Bangalore Electricity Supply Company Limited (BESCOM) for a 250 MW solar project integrated with a 250 MW/1,100 MWh battery energy storage system (BESS) at Pavagada Solar Park in Karnataka. The project involves development of a 250 MWAC solar photovoltaic power plant along with integrated battery storage infrastructure. The total estimated project cost is around Rs 1,775 crore, including Goods and Services Tax. The project was earlier awarded by Karnataka Renewable Energy Development Limited (KREDL) in February 2026.

Marsons receives Rs 31.27 crore transformer order from AEGCL

Marsons Limited has received a Letter of Intent (LoI) valued at approximately Rs 31.27 crore, including Goods and Services Tax (GST), from Assam Electricity Grid Corporation Limited (AEGCL) for the supply of power transformers and associated services. The order covers supply of 132/33 kV, 50 MVA power transformers for the Durlavcherra, Karimganj, and Srikona substations under Package T-3. The contract is scheduled for execution within 12 months. Marsons stated that the transaction does not qualify as a related party transaction.

Diamond Power commissions 8th MV and EHV cable line

Diamond Power Infrastructure Limited has commissioned its eighth Medium Voltage (MV) and Extra High Voltage (EHV) power cable production line at its Vadodara manufacturing facility in Gujarat. The newly commissioned line adds 150 km per month of production capacity, taking the company’s existing MV/EHV manufacturing capacity to 1,050 km per month. The company stated that two additional MV/EHV cable production lines are under installation and expected to commence commercial operations by March 31, 2027. The expansion involved an investment of Rs 30 crore funded through internal accruals.

Suzlon targets 10 GW annual renewable energy sales by FY31

Suzlon Energy Limited has announced its “Suzlon 2.0” strategy, targeting annual renewable energy sales of 10 GW and a renewable energy order book of 15 GW by FY31. The company plans to transition from a wind original equipment manufacturer (OEM) to an integrated renewable energy company covering wind, solar, and battery energy storage systems (BESS). Suzlon is also targeting around 40% market share in the Indian wind sector and export order intake of 3 GW by FY31. The company plans to establish a BESS manufacturing facility by 2027 and expand assets under management (AUM) to 70 GW.

Bajel Projects secures mega GIS substation EPC order in Mumbai

Bajel Projects Limited has secured a mega engineering, procurement and construction (EPC) order for a 400/220/33 kV gas-insulated switchgear (GIS) substation for a data centre project in Mumbai. The order falls under the company’s “Mega” classification category covering projects valued between Rs 300 crore and Rs 400 crore, inclusive of goods and services tax (GST). The scope includes design, engineering, procurement, erection, testing, commissioning, and performance testing of the GIS substation. The project is scheduled for completion within 24 months from commencement.

GACL partners with CleanMax for hybrid renewable energy supply

Gujarat Alkalies and Chemicals Limited (GACL) has partnered with Clean Max Enviro Energy Solutions Limited (CleanMax) to procure hybrid renewable energy for its manufacturing facilities in Gujarat. The project comprises 75.90 MW of wind capacity and 84.34 MWp of solar capacity under a group captive arrangement. The renewable energy project is being implemented across four CleanMax sites in Gujarat and is expected to generate around 36.9 crore units of electricity annually. The companies estimate that the project could reduce carbon dioxide emissions by around 2,64,204 tonnes per year.

Power Mech secures Rs 266 crore O&M contract in Maharashtra

Power Mech Projects Limited has secured an operations and maintenance (O&M) contract valued at Rs 266.26 crore excluding Goods and Services Tax (GST) from Adani Infrastructure Management Services Limited for a thermal power plant in Maharashtra. The contract covers KPI-based O&M services for the 2×300 MW thermal power plant at Butibori. The contract period is 60 months, from July 1, 2026 to June 30, 2031. The company stated that the transaction does not qualify as a related party transaction.

iNVERGY commissions 3 GWh BESS gigafactory in Uttar Pradesh

iNVERGY India Private Limited has inaugurated a fully automated battery energy storage system (BESS) gigafactory in Dasna, Uttar Pradesh, with an annual manufacturing capacity of 3 GWh. The facility has been developed with an investment of more than Rs 200 crore and spans 217,000 square feet. It will manufacture BESS units, lithium iron phosphate (LiFePO4) battery packs, solar inverters, and integrated energy storage systems. The company stated that the plant incorporates artificial intelligence (AI)-based battery management systems and internet of things (IoT)-enabled remote monitoring technologies.

SEG Solar plans third U.S. module plant with 4.6 GW capacity

SEG Solar has announced plans to establish its third solar module manufacturing facility in Greater Houston with a planned production capacity of 4.6 GW. The proposed facility will increase the company’s total planned U.S. module manufacturing capacity to 10.6 GW. Construction is scheduled for completion by March 2027, with commercial production expected to begin by May 2027. The company stated that the facility will support its transition towards heterojunction (HJT) solar module technology and comply with Foreign Entity of Concern (FEOC) standards.