Power Sector News Roundup for March 13, 2026

EAC clears Adani’s 1,200 MW pumped storage project in Uttar Pradesh

The Expert Appraisal Committee (EAC) for River Valley and Hydroelectric Projects has recommended granting Terms of Reference (ToR) for the proposed 1,200 MW Cherue Pumped Storage Project in Sonbhadra district, Uttar Pradesh. Adani Hydro Energy Six Limited will develop the project, with the recommendation made during the committee’s 49th meeting in February 2026. The project, estimated at Rs 5,690.85 crore, involves constructing two artificial reservoirs near Cherue and Laua villages and will require about 569 hectares of land, including 438.60 hectares of forest land. The facility will include five reversible turbine units and is designed to generate about 2,496.6 million units (MU) annually with an estimated cycle efficiency of about 78%. The EAC directed the developer to apply for Stage-I forest clearance within six months and undertake further ecological assessments due to the project’s proximity to Kaimur Wildlife Sanctuary.

Power Ministry proposes amendments to electricity consumer rights rules

The Ministry of Power (MoP) has released the draft Electricity (Rights of Consumers) Amendment Rules, 2026 for stakeholder comments by April 11, 2026, with implementation proposed from October 1, 2026. The draft proposes revised timelines for new electricity connections, placing municipal corporation areas under a three-day connection window similar to metropolitan cities. It also revises the rollout schedule for Time-of-Day (ToD) tariffs, requiring Commercial and Industrial consumers above ten kilowatts to transition by April 1, 2027, and other consumers by a date set by State Electricity Regulatory Commissions but no later than April 1, 2028. The amendments introduce provisions for net-metering facility charges on rooftop solar systems above five kilowatts and establish a framework for demand response programmes. Additional changes address abnormal electricity bills and restructure the Consumer Grievance Redressal Forum (CGRF) system into a two-tier arrangement with defined timelines for complaint resolution.

ACME Solar signs 450 MW FDRE power purchase agreements with SJVN

ACME Solar Holdings Limited (ASHL), through its subsidiary ACME Greentech Seventh Private Limited, has signed two Power Purchase Agreements (PPAs) with SJVN Limited for 450 MW / 1,800 MWh of Firm and Dispatchable Renewable Energy (FDRE). The agreements were executed on March 2, 2026 and will remain valid for 25 years. The projects were awarded under the Tranche-FDRE-4 tender issued through Tariff-Based Competitive Bidding (TBCB), with the Letter of Award issued on November 10, 2025. The company plans to utilise night-time transmission connectivity at high irradiation sites in Rajasthan to supply power under the agreements. Under the PPAs, ACME Solar will deliver four hours of assured peak power during non-solar hours with a minimum availability requirement of 90% on both monthly and annual bases.

ACME Solar commissions second phase of Rajasthan BESS project

ACME Solar Holdings Limited (ASHL) has commissioned the second phase of its Battery Energy Storage System (BESS) project in Rajasthan through its subsidiary ACME Sun Power Private Limited. The newly commissioned phase adds 33.335 MW / 160.51 MWh of storage capacity and achieved Commercial Operation Date (COD) on March 14, 2026. The project is located at Village Badi Sid in Tehsil Bap, covering parts of the Phalodi and Jodhpur districts. With the commissioning of the second phase, a total of 66.67 MW / 320.99 MWh has been operationalised, representing about 22% of the planned 300 MW / 1,409.34 MWh capacity. The first phase was commissioned on March 8, 2026, with both phases completed within six days.

KPI Green Energy expands IPP capacity to 589 MWp

KPI Green Energy Limited has energised an additional 35 MWp of solar capacity, increasing its operational Independent Power Producer (IPP) portfolio to 589 MWp. The company is progressing toward commissioning another 1,582 MWp, which would expand its total IPP capacity to 2.17 GWp. In January 2026, KPI Green commissioned its 200 MW / 240 MWp solar IPP project at Khavda Solar Park (South Block) developed by Gujarat State Electricity Corporation Limited (GSECL). The company has also synchronised a 92.15 MWp hybrid project consisting of 16.95 MW wind and 75.2 MWp solar ahead of its July 2026 Commercial Operation Date (COD). Separately, its subsidiary Sun Drops Energia Limited signed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for 445 MW / 890 MWh of standalone battery storage.

POWERGRID and Montecarlo acquire transmission SPVs in Maharashtra

Power Grid Corporation of India Limited (POWERGRID) and Montecarlo Limited have acquired two transmission Special Purpose Vehicles (SPVs) in Maharashtra under the Tariff-Based Competitive Bidding (TBCB) process conducted by PFC Consulting Limited (PFCCL). POWERGRID acquired NES Pune East New Transmission Limited (NPENTL) for about Rs 8.05 crore to address transmission constraints in Pune Region-I through the development of a 765/400 kV Air Insulated Switchgear (AIS) substation and associated transmission lines. The SPV was incorporated in March 2025 and has not commenced commercial operations. Separately, Montecarlo Limited acquired NES Dharashiv Transmission Limited for Rs 3.61 crore. The project involves constructing a 400/220/132 kV substation at Washi and transmission lines linking substations at Pune (East), Manjarsumba, Paranda and Kalamb.

PFC subsidiary for 4,000 MW Odisha project struck off

Sakhigopal Integrated Power Company Limited (SIPCL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has been struck off by the Registrar of Companies with effect from March 9, 2026 under Section 248 of the Companies Act, 2013. The company was incorporated in May 2008 as a Special Purpose Vehicle (SPV) for developing a 4,000 MW Ultra Mega Power Project in Odisha. The project was later shelved and the entity remained inactive. The Ministry of Power approved the closure on November 27, 2025, after which filings were submitted to the Ministry of Corporate Affairs (MCA). PFC stated that SIPCL was not a material subsidiary and its closure does not have any financial impact on the company.

Bessco Power and Renergo form JV for 1,000 MW renewable projects

Bessco Power Private Limited and Renergo Developers have formed a joint venture to develop 1,000 MW of renewable energy projects across India and Nepal over the next 18 to 24 months. The partnership will focus primarily on utility-scale solar power while also evaluating opportunities in green fuels and bioenergy. The companies indicated that compressed biogas (CBG), green hydrogen and green ammonia are among the technologies being explored. India and Nepal have been identified as priority markets due to ongoing clean energy capacity expansion. The partners stated that multiple development opportunities are currently under evaluation and the first projects are expected to progress in the coming months.

Ashok Leyland begins construction of EV battery pack plant near Chennai

Ashok Leyland Limited has begun construction of a greenfield battery pack manufacturing facility at Pillaipakkam near Chennai with an investment of Rs 400–500 crore. The project forms part of commitments made under a memorandum of understanding signed between the Hinduja Group and the Government of Tamil Nadu in September 2025. The facility is intended to localise electric vehicle battery pack production and strengthen the EV supply chain in India. The foundation plaque was unveiled by M.K. Stalin, Chief Minister of Tamil Nadu, in the presence of state officials and company representatives. Ashok Leyland stated that the facility will support the development of advanced battery pack solutions and contribute to skill development in high-technology manufacturing.

DGTR recommends five-year extension of duty on Malaysian solar glass

The Directorate General of Trade Remedies (DGTR) has recommended extending countervailing duties on solar glass imports from Malaysia for five years, citing continued subsidies to Malaysian producers and the risk of renewed injurious imports if the duty is withdrawn. The duties, imposed in March 2021, are 9.71% of the cost, insurance and freight value for Xinyi Solar Sdn. Bhd. and 10.14% for other producers and are scheduled to expire on June 8, 2026. The review followed an application from Borosil Renewables Limited and Vishakha Glass Private Limited and covered the period from January 1 to December 31, 2024. The DGTR found countervailable benefits under multiple subsidy programmes and identified price undercutting margins of 30–40% during the period of investigation. The final decision on implementing the recommendation will be taken by the Central Government.

Mahindra Susten achieves financial closure for 300 MW Rajasthan hybrid project

Mahindra Susten Private Limited has achieved financial closure for its Hazel Hybren renewable energy project in Rajasthan with a capacity of 300 MW alternating current (AC), equivalent to 420 MWp. HDFC Bank Limited is the sole lender under a binding agreement executed on February 27, 2026, with structured project financing of Rs 1,025 crore. NHPC Limited has been designated as the off-taker for the project. Financial closure indicates that the full capital requirement has been secured, enabling the project to proceed to development and construction. The company stated that the project forms part of its broader hybrid renewable energy portfolio combining solar and wind capacity.