Power Sector News Roundup for March 11, 2026

Solex Energy’s 3.78 GW Surat module plant added to MNRE ALMM list

Solex Energy Limited has received approval for its 3.78 GW solar module manufacturing facility in Surat, Gujarat, under the Approved List of Models and Manufacturers (ALMM) framework of the Ministry of New and Renewable Energy (MNRE). The listing allows the company to supply ALMM-compliant solar photovoltaic (PV) modules to government-supported solar projects in India. The ALMM framework was introduced by MNRE to ensure the quality and reliability of solar PV modules and cells used in renewable energy installations. Chairman and Managing Director Chetan Shah said the approval strengthens the company’s role in supporting India’s domestic solar manufacturing ecosystem. Solex Energy also plans to expand capacity from 3.78 GW to 15 GW with an estimated investment of about Rs 8,000 crore.

Bajel Projects, NIIF and AnantGrid partner to bid for transmission projects

Bajel Projects Limited has signed a collaboration agreement with the National Investment and Infrastructure Fund (NIIF) and NIIF’s subsidiary AnantGrid Private Limited to jointly bid for power transmission projects in India. Under the framework, Bajel Projects will hold a 26% equity stake in project-specific special purpose vehicles (SPVs), while NIIF and its affiliates will hold the remaining 74%. Bajel will lead engineering, procurement and construction (EPC) activities, NIIF will handle funding and asset management, and AnantGrid will oversee business development and project management. The companies said the partnership targets transmission opportunities linked to rising electricity demand and India’s 500 GW renewable energy capacity target by 2030. Avencer Capital acted as the sole financial advisor to Bajel Projects for the transaction.

NHPC’s 2,400 MW Savitri pumped storage project gets ToR clearance

NHPC Limited has received Terms of Reference (ToR) for the proposed 2,400 MW Savitri Open Loop Pumped Storage Project in Maharashtra from the Expert Appraisal Committee (EAC) for River Valley and Hydroelectric Projects. The approval follows submission of a No Objection Certificate (NOC) from the Mahabaleshwar–Panchgani Eco-Sensitive Zone (ESZ) Monitoring Committee, resolving an earlier delay. The project, estimated at Rs 11,826 crore, will be located across Satara and Raigad districts and will utilise a head of 561.67 metres between dams on the Koyna and Savitri rivers. The scheme will include eight generating units of 300 MW each and is expected to generate about 5,226 million units annually at 95% availability with an estimated cycle efficiency of around 79%. The project involves diversion of 55.64 hectares of forest land and requires full ESZ clearance before applying for Environmental Clearance.

KPI Green commissions additional 24.2 MW in GUVNL solar project

KPI Green Energy Limited has commissioned an additional 24.2 MW AC (35.01 MW DC) capacity under its 250 MW AC (350 MW DC) grid-connected solar independent power producer project awarded by Gujarat Urja Vikas Nigam Limited (GUVNL). With this addition, the total operational capacity under the project has increased to 48.4 MW AC (69.41 MW DC). The newly commissioned capacity became operational on March 10, 2026, and the overall project is scheduled for completion by October 2026. The project was secured through competitive bidding and is being implemented in phases. Earlier, in February 2026, the company completed a 92.4 MW wind project for Ayana Renewable Power Four in Bhuj, Gujarat.

NTPC Green commissions 270 MW at Khavda-II solar project

NTPC Green Energy Limited (NGEL) has declared commercial operation of 270 MW capacity at the 1,200 MW Khavda-II Solar PV Project in Gujarat, effective March 11, 2026. The commissioned capacity represents the third part of the project developed by NREL, a wholly-owned subsidiary of NGEL and a step-down subsidiary of NTPC Limited. Following the addition, the total commercial capacity of the NGEL Group has reached 9,292.68 MW. The overall installed capacity of the NTPC Group now stands at 88,544 MW, with commercial capacity reported at 87,464 MW. The project forms part of NTPC’s strategy to expand its renewable energy portfolio.

Sunsure Energy signs 8 MW solar PPAs with Daeseung Group companies

Sunsure Energy has signed long-term solar power purchase agreements (PPAs) with Daeseung Autoparts India and Ilgahng Automotive, both part of South Korea’s Daeseung Group. The agreements cover supply of a combined 8 MW of solar power to the companies’ manufacturing facilities in Kanchipuram, Tamil Nadu. Electricity will be sourced from Sunsure Energy’s 75 MW solar plant in Ilayangudi. Daeseung Autoparts India is expected to receive about 8 million units of electricity annually, meeting nearly 60% of its total power requirement. The agreements support renewable energy adoption in the automotive manufacturing sector.

Waaree Renewable wins EPC contract for 300 MW solar project

Waaree Renewable Technologies Limited has secured a contract for engineering, procurement and construction (EPC) of a ground-mounted solar photovoltaic plant with a capacity of 300 MW AC (420 MWp). The company received intimation of the order on March 10, 2026. The project has been awarded by a domestic renewable energy power generation entity and is scheduled for completion during the financial year 2027-28. Waaree Renewable Technologies classified the order as a commercial contract. The company also confirmed that the transaction does not qualify as a related party transaction.

India claims second-largest wind market title as global installations hit record

India became the largest wind market outside mainland China in 2025, surpassing the United States and Germany, according to BloombergNEF’s Global Wind Turbine Market Shares report. Global wind capacity additions reached a record 169 GW in 2025, a 38% increase compared with 2024. Outside mainland China, wind installations rose 17% year-on-year to 43 GW, with India accounting for the largest share. The report attributes India’s growth partly to its renewable energy auction framework introduced in 2018. Mainland China added more than 100 GW in 2025, while offshore wind installations globally declined to 8.1 GW due to project delays and slower activity.

Cricket stars Suryakumar Yadav, Tilak Varma invest in solar firm TRUZON

T20 World Cup-winning captain Suryakumar Yadav and cricketer Tilak Varma have taken strategic stakes in Hyderabad-based TRUZON Solar, which operates under Suntek Energy Systems Pvt. Ltd. The investment adds to existing backers that include Sachin Tendulkar. TRUZON Solar provides residential, commercial and industrial solar installations and after-sales service support. The company operates across Telangana, Andhra Pradesh, Madhya Pradesh, Maharashtra and Chhattisgarh with more than 580 employees and 82 channel partners and service centres. The investment will support expansion into Karnataka, Tamil Nadu and Odisha.

ABB to invest $75 million in India to expand manufacturing and R&D

ABB has announced plans to invest about $75 million in India in 2026 to expand manufacturing and research infrastructure across multiple locations. The investment follows more than $35 million deployed in 2025 and brings ABB’s total investment in India over the past decade to more than $230 million. The capital will be allocated across Electrification, Motion and Automation businesses and is expected to create around 300 skilled jobs. Major allocations include $22 million in Nashik for circuit breaker production, $21 million in Bengaluru for low-voltage drives and motors, and $12 million for a research and development hub in Hyderabad. ABB stated that about 85% of the products it sells in India are manufactured locally.