Power Sector News Roundup for March 12, 2026

Hygge Energy partners Atria Renewable for P2P rooftop solar trading in Bengaluru

Hygge Energy has partnered with Atria Renewable to expand peer-to-peer (P2P) rooftop solar trading in Bengaluru using Hygge’s blockchain and artificial intelligence (AI)-enabled energy trading platform within the regulatory framework of the Karnataka Electricity Regulatory Commission (KERC). Atria Renewable will act as a preferred installation partner on the platform, with both companies sharing consumer data and technical inputs to streamline rooftop solar adoption. They also plan to launch a jointly branded mobile application enabling users to manage installations, trade surplus electricity and access financing through a single interface. The platform supports blockchain-based contract execution and payment settlement aligned with the Reserve Bank of India’s (RBI) Central Bank Digital Currency (CBDC) framework, alongside financing options for rooftop solar installations. The partnership also introduces CBDC-based asset tokenisation for rooftop solar and battery storage financing, while Atria Group Chairman C. S. Sunder Raju said Hygge’s carbon tracking and carbon credit capabilities could enable participation in emerging carbon markets.

Dilip Buildcon receives LoI for 400 kV Mekhali substation project in Karnataka

Dilip Buildcon Limited (DBL) has received a Letter of Intent from REC Power Development and Consultancy Limited (RECPDCL) for developing a 400 kV substation at Mekhali with associated transmission lines in Belagavi district, Karnataka. The award confirms DBL’s L-1 position secured in December 2025 after it outbid five competitors including Adani Energy Solutions, Power Grid Corporation of India Limited (POWERGRID), and Montecarlo Limited. The project will be implemented under the Tariff Based Competitive Bidding (TBCB) route on a Build, Own, Operate and Transfer (BOOT) basis, with DBL acquiring 100 per cent equity in the project special purpose vehicle (SPV) and acting as the Transmission Service Provider (TSP). The engineering, procurement and construction (EPC) value is about Rs 1,850 crore excluding GST, with construction scheduled for completion within 24 months and a 35-year concession period from the Commercial Operation Date (COD). The scope includes a new 400/220/33 kV air-insulated substation with two 500 MVA interconnecting transformers, along with bus reactors, line reactors and double-circuit transmission lines linking Yalwar, Dhoni, Kudachi and Mahalingpur.

ACME Solar commissions third phase of Jaisalmer battery storage project

ACME Solar Holdings Limited (ASHL) has commissioned the third phase of its battery energy storage system (BESS) project in Jaisalmer district, Rajasthan through its wholly owned subsidiary ACME Suryodaya Private Limited. The phase adds 19 MW / 40.50 MWh of storage capacity, with commercial operations commencing March 13, 2026. It forms part of a larger 285 MW / 601.904 MWh BESS project located in the villages of Sanwara and Mehar Nagar in Tehsil Pokhran. With the latest phase, ACME Suryodaya has operationalised a cumulative 76 MW / 160.50 MWh following the first phase commissioned February 25, 2026 and the second phase of 38 MW / 82 MWh commissioned March 5, 2026. Separately, ASHL is progressing a 300 MW / 1,400 MWh BESS project in Phalodi and Jodhpur districts through ACME Sun Power Private Limited, where the first phase of 33.335 MW / 160.48 MWh achieved Commercial Operation Date (COD) on March 8, 2026.

Indo-Tech Transformers loses Rs 65 crore ReNew Wind transformer order

Indo-Tech Transformers Limited has reported the cancellation of a Rs 64.99 crore order from Renew Wind Energy (JAMB) Private Limited for the supply of six 220 kV / 165 MVA power transformers. The termination was disclosed in a regulatory filing dated March 11, 2026, with the customer citing project delay as the reason. The order had been awarded on January 8, 2026, with deliveries planned between February 2027 and May 2027. Indo-Tech stated that manufacturing had not commenced and therefore the cancellation has no financial impact. The company added that its order book remains stable and that it received new orders worth about Rs 80 crore during the past week from various renewable energy projects.

KEC International secures Rs 1,476 crore T&D orders across regions

KEC International Limited has secured new orders worth Rs 1,476 crore across its Transmission and Distribution (T&D) business in India, the Middle East, Africa and the Americas. The contracts include a composite order in Saudi Arabia covering 380 kV transmission lines, substations and extra high voltage (EHV) cabling. The company also secured orders for 132 kV transmission lines in Africa and supply orders for transmission towers in India and the Americas, along with hardware and poles in the Americas. Managing Director and Chief Executive Officer (CEO) Vimal Kejriwal said the Saudi Arabia contract is the company’s largest composite order in that country and reflects continuing transmission investments in the Middle East. With these additions, KEC International’s year-to-date order intake has reached about Rs 22,800 crore.

Eastman commissions 800 MW solar module facility in Haryana

Eastman Auto & Power Limited (EAPL) has commissioned an 800 MW solar photovoltaic (PV) panel and module manufacturing facility in Sonipat, Haryana, with the announcement made March 11, 2026. The facility integrates panel and module manufacturing with the company’s existing portfolio of grid-tie, off-grid and hybrid inverters and energy storage batteries. The panels comply with Domestic Content Requirement (DCR) norms and standards of the Ministry of New and Renewable Energy (MNRE), enabling eligibility for programmes such as the PM Surya Ghar Muft Bijli Yojana. Managing Director Shekhar Singal said the facility supports domestic solar manufacturing under the Make in India initiative and promotes integrated solar and storage systems. With the Sonipat plant, Eastman operates eight manufacturing facilities in India and serves customers in over 50 countries through its Eastman and Addo brands.

Aerem appoints Nilesh Malani as Executive Director

Aerem has appointed Nilesh Malani as Executive Director to lead its consumer business, marketing and direct-to-consumer (D2C) e-commerce verticals. Malani has more than 20 years of experience in brand building and digital transformation, most recently serving as Global Chief Marketing Officer (CMO) and Business Head for Special Modules at Waaree Group from February 2024 to December 2025. Earlier roles include Chief Marketing Officer at Polycab India, marketing leadership positions at JSW Steel, a 13-year tenure at Castrol India, and an early career role at Asian Paints. Aerem operates a solar-focused non-banking financial company (NBFC) licensed by the Reserve Bank of India (RBI) and runs SunStore, a business-to-business (B2B) marketplace connecting original equipment manufacturers (OEMs), distributors and installation partners. The company is backed by investors including Blume Ventures, UTEC, Avaana Capital, British International Investment, SE Ventures and Riverwalk Holdings.

PM-KUSUM 2.0 to include 10 GW agrivoltaic component

The government is preparing PM-KUSUM 2.0 with a dedicated 10 GW agrivoltaic component to support the co-location of solar panels with agricultural crops. Union Minister for New and Renewable Energy Pralhad Joshi announced the proposal at the 4th National Agro-RE Summit held in New Delhi on March 10, 2026. The component aims to allow farmers to generate electricity while continuing cultivation on the same land. Joshi said India’s agrivoltaic potential is estimated between about 3,000 GW and nearly 14,000 GW, and studies suggest farmer income could increase from about Rs 60,000 per acre annually to over Rs 1 lakh per acre through electricity revenue. He also noted that more than 10 lakh standalone solar agricultural pumps have been installed and over 13 lakh grid-connected agricultural pumps have been solarised under the existing PM-KUSUM scheme.

GREW Solar secures Rs 500 crore repeat module order

GREW Solar has secured a repeat order worth about Rs 500 crore from an independent power producer (IPP) for the supply of M10R solar modules for utility-scale solar projects across multiple locations in India. The order follows successful delivery of an earlier supply to the same developer. The modules use tunnel oxide passivated contact (TOPCon) cell technology with a 144 half-cut cell configuration designed to reduce power loss and maintain stable performance in high-temperature conditions. The modules carry a 15-year product warranty and a 30-year linear performance warranty. Chief Executive Officer and Director Vinay Thadani said the repeat order reflects developer confidence and rising demand for reliable solar solutions as electricity consumption grows.

EAC clears only one of nine coal plants seeking FGD exemption

The Expert Appraisal Committee (EAC) for thermal power projects reviewed nine coal-based plants seeking exemption from Flue Gas Desulphurisation (FGD) requirements under the July 2025 notification during meetings held February 24 and 25, 2026 under the Ministry of Environment, Forest and Climate Change (MoEF&CC). Only Haldia Energy Limited received approval for its 600 MW plant at Baneshwarchak in Purba Medinipur district, West Bengal, subject to implementing an Environmental Management Plan involving capital expenditure of Rs 554 lakh and annual expenditure of Rs 233 lakh. Applications from MEIL Anpara Energy Limited, Chhattisgarh State Power Generation Company Limited (CSPGCL), Dhariwal Infrastructure Limited and Orissa Alloy Steel Private Limited were deferred due to data inconsistencies, environmental compliance gaps and procedural issues. In the February 25 meeting, proposals from Hiranmaye Energy Limited, Moxie Power Generation Limited and GMR Kamalanga Energy Limited were also deferred for reasons including air quality exceedances, modelling inconsistencies and missing wildlife clearances. Separately, National Aluminium Company Limited’s proposal to expand its captive power plant capacity from 1,200 MW to 2,280 MW was returned without consideration due to incomplete information and pending comments from the Ministry of Power.

PM lays foundation stone for 50 MW floating solar project in Kerala

Prime Minister Narendra Modi laid the foundation stone for a 50 MW floating solar project at West Kallada in Kerala during his visit to Ernakulam under the “Viksit Keralam – Viksit Bharat” initiative. The project will be developed by NHPC Limited under the Solar Park Scheme of the Ministry of New and Renewable Energy (MNRE) with an investment of more than Rs 260 crore. The foundation stone was laid alongside the inauguration and launch of infrastructure projects worth over Rs 10,800 crore. Modi said the project will support India’s clean energy transition and encouraged wider deployment of floating solar in Kerala due to the state’s extensive water bodies. The event was attended by Kerala Governor Rajendra Vishwanath Arlekar and Union Ministers of State Suresh Gopi and George Kurian.