Power Sector News Roundup for March 16, 2026

Coal India subsidiary CMPDIL files RHP for IPO

Coal India Limited (CIL) informed stock exchanges that Central Mine Planning and Design Institute Limited (CMPDIL), its wholly owned subsidiary, filed a Red Herring Prospectus (RHP) dated March 12, 2026 with the Securities and Exchange Board of India (SEBI), BSE Limited (BSE), and the National Stock Exchange of India Limited (NSE) for a proposed initial public offering (IPO). The issue is structured entirely as an offer for sale (OFS) of up to 10.71 crore equity shares by Coal India Limited, meaning CMPDIL will not receive fresh capital. Proceeds from the offering will be received by CIL as the selling shareholder. CMPDIL functions as the technical and consultancy arm of CIL and is headquartered in Ranchi, Jharkhand. The filing follows SEBI’s review of the Draft Red Herring Prospectus and precedes the launch of the public issue, although final dates have not been announced.

Orient Green Power promoter entities merged into SVL Limited

Orient Green Power Company Limited informed stock exchanges that promoter entities Nivedana Power Private Limited (NPPL) and Syandana Energy Private Limited (SEPL) will merge into SVL Limited following approval from the National Company Law Tribunal (NCLT), Division Bench II, Chennai on March 10, 2026. The company notified the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on March 13, 2026 under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Under the scheme, NPPL and SEPL will cease to exist as independent companies and their shareholdings in Orient Green Power Company Limited will transfer to SVL Limited. The restructuring is an inter-se transfer within the promoter group and does not change the overall promoter shareholding. After completion, the promoter group will continue to hold 24.38% of the company’s equity.

ACME Solar commissions BESS phases totalling 176 MW in Rajasthan

ACME Solar Holdings Limited commissioned a 142.67 MW / 481.49 MWh Battery Energy Storage System (BESS) in Rajasthan through its subsidiaries. The project represents Phase 1 of a planned total BESS capacity of 585 MW / 2,011 MWh to be developed under the same special purpose vehicles (SPVs). The systems are connected to the existing Inter-State Transmission System (ISTS) and will initially operate on a merchant basis by capturing price differences between peak and off-peak demand periods. At a later stage, the storage capacity will be integrated with ACME Solar’s Firm and Dispatchable Renewable Energy (FDRE) projects operating under 25-year power purchase agreements (PPAs). The company reports an overall portfolio of 8,071 MW, including 2,966 MW of operational contracted capacity and 5,105 MW under construction.

NCLT approves Inox Green Energy’s power evacuation business demerger

The National Company Law Tribunal (NCLT), Ahmedabad Bench approved the demerger of the Power Evacuation Business of Inox Green Energy Services Limited (IGESL) into Inox Renewable Solutions Limited (IRSL). The order was pronounced on March 13, 2026 and IGESL informed stock exchanges on March 14, 2026. The scheme has an appointed date of October 1, 2024 and transfers all assets, liabilities, contracts, licences and employees related to the business to IRSL. The restructuring aims to position IGESL as a wind turbine operations and maintenance (O&M) company while IRSL consolidates engineering, procurement and construction (EPC) and power evacuation activities. Shareholders will receive 122 equity shares of IRSL for every 1,000 equity shares of IGESL under the approved entitlement ratio.

Non-fossil sources cross 52% of India’s installed power capacity

India’s total installed power capacity reached 524 GW at the end of February, with non-fossil fuel sources exceeding 52% of the mix for the first time. Data from the Central Electricity Authority (CEA) showed renewable energy, large hydro and nuclear together accounted for 275,468 MW, or 52.57% of total capacity, compared with 248,542 MW from fossil fuel sources. Solar capacity reached 143,604 MW, representing 27.4% of the national total, while coal-based capacity remained the largest component at 221,210 MW. Wind capacity stood at 55,133 MW and large hydro at 51,165 MW. Private companies now account for 272,434 MW of installed capacity, exceeding the combined capacity owned by central and state utilities.

Power Ministry amends captive power rules with proportionate consumption framework

The Ministry of Power issued the Electricity (Amendment) Rules, 2026 revising the regulatory framework for captive generating plants. The amendment replaces Rule 3 of the Electricity Rules, 2005 and introduces a proportionate consumption mechanism for multi-user captive plants. While the requirement to hold at least 26% ownership and consume at least 51% of generated electricity remains unchanged, each participant in an association of persons can now claim captive status only up to their proportionate ownership share. Consumption beyond this entitlement will be treated as electricity purchased from a generating company and will attract cross-subsidy surcharge and additional surcharge. The new proportionate consumption provisions and verification mechanism will apply from April 1, 2026.

India revises FDI rules for land-bordering countries, easing minority investment

The Union Cabinet approved an amendment to Press Note 3 of 2020, introducing a 10% beneficial ownership threshold below which investors from countries sharing a land border with India can invest through the automatic route. Under the earlier rule, any level of beneficial ownership from such countries required government approval. The revised framework issued by the Department for Promotion of Industry and Internal Trade (DPIIT) also introduces a 60-day processing timeline for approval-route proposals in selected manufacturing sectors including polysilicon and ingot-wafer manufacturing. India’s solar module manufacturing capacity increased from 38 GW in March 2024 to 74 GW in March 2025, while ingot and wafer capacity reached 2 GW. China continues to dominate global solar manufacturing supply chains with more than 80% share across key stages.

Adani Power wins 1,600 MW long-term supply contract from MSEDCL

Adani Power Limited received a Letter of Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for long-term supply of 1,600 MW of thermal power. The contract was secured through competitive bidding with a quoted tariff of Rs 5.30 per unit (kWh). Power will be supplied under a 25-year Power Supply Agreement (PSA), with deliveries scheduled to begin from FY2030-31. The electricity will be generated from one of the company’s upcoming ultra-supercritical thermal power projects with a pre-determined coal linkage. With this award, Adani Power has tied up 10,400 MW of capacity through long-term PSAs during FY2025-26.

Advait Greenergy inaugurates 30 MW electrolyser assembly facility

Advait Greenergy Private Limited (AGPL), a material subsidiary of Advait Energy Transitions Limited, inaugurated its Phase I 30 MW Alkaline Electrolyser Assembly Facility. The facility marks the company’s entry into domestic green hydrogen equipment manufacturing and was inaugurated by Managing Director Shalin Sheth in the presence of Ashwini Kumar, IAS, Principal Secretary, Energy & Petrochemicals Department. Phase II plans to expand capacity to 100 MW while Phase III targets a fully automated 300 MW integrated manufacturing complex. During the event, AGPL signed seven memoranda of understanding (MoUs) covering green hydrogen project development, manufacturing partnerships, and research collaborations. The company stated the agreements are preliminary and detailed disclosures will follow once binding contracts are executed.

Waaree Energies begins work on 10 GW solar ingot and wafer plant in Nagpur

Waaree Energies Limited began construction of a 10 GW solar ingot and wafer manufacturing facility at Butibori in Nagpur, Maharashtra. The project will be developed over 300 acres with an estimated investment of around Rs 6,200 crore. The facility will manufacture solar ingots and wafers used in the upstream stage of the solar photovoltaic (PV) manufacturing chain. The company said the plant could generate more than 8,000 direct and indirect jobs. Waaree Energies currently operates solar PV module manufacturing capacity of about 22.3 GW globally and solar cell capacity of up to 5.4 GW.

Bajel Projects wins Rs 700 crore+ MSETCL substation EPC contract

Bajel Projects Limited secured a contract valued at more than Rs 700 crore, including GST, from Maharashtra State Electricity Transmission Company Limited (MSETCL). The project involves the establishment of a 400/220 kV Air Insulated Switchgear (AIS) substation at Saswad in Pune district along with associated transmission lines. The work will be executed through MSETCL’s special purpose vehicle Saswad Transmission Limited. The scope includes turnkey engineering, procurement and construction (EPC) of a greenfield 2×500 MVA substation with a 125 MVAr bus reactor and multiple Line-In Line-Out (LILO) transmission connections. The project is scheduled for completion within 23 months from the Notification of Award.

ENGIE signs PPA with GUVNL for 280 MW/560 MWh BESS in Gujarat

ENGIE India signed a Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 280 MW / 560 MWh standalone battery energy storage system project in Gujarat. The project represents ENGIE’s first utility-scale storage project in India. The agreement reflects growing deployment of grid-scale battery energy storage systems to support renewable integration and grid stability. ENGIE already operates wind and solar assets in India and the storage project expands its portfolio into dispatchable clean power solutions. The project contributes to India’s broader effort to support its 500 GW non-fossil fuel capacity target by 2030.