Power Sector News Roundup for March 18, 2026

NCT clears Rs 9,980 crore transmission schemes in eastern and western regions

The National Committee on Transmission (NCT) approved two transmission schemes worth about Rs 9,980 crore on February 25, 2026. The eastern scheme includes the Nawada-Durgapur-Jeerat 765 kV corridor at Rs 5,270.09 crore to improve Kolkata supply reliability and evacuate power from NTPC’s 2,400 MW Nabinagar STPP Stage-II. The western scheme, costing Rs 4,710.17 crore (Part-A), supports up to 4,500 MW of pumped storage capacity near Satara and establishes a new SR-WR 765 kV corridor. Both projects are targeted for completion by 2029 in phases. The schemes include new substations, transmission lines, and reactive power support systems.

MNRE extends ALMM framework to include solar wafers

The Ministry of New & Renewable Energy (MNRE) has amended the ALMM Order to include silicon wafers under a new List-III, effective June 1, 2028. The framework now covers wafers, cells, and modules, requiring full compliance across the value chain for eligible projects. List-III will be notified only after at least three independent manufacturers with a combined capacity of 15 GW per annum are established. Projects with bid submission deadlines before the Cut-Off Date will be exempt from wafer requirements. The amendment does not change existing Domestic Content Requirement provisions.

Reliance signs USD 3 billion green ammonia supply deal with Samsung C&T

Reliance Industries Limited has signed a 15-year agreement with Samsung C&T Corporation for green ammonia exports valued at over USD 3 billion. Deliveries will begin in the second half of FY2029. The project integrates renewable energy from Kutch with hydrogen and ammonia production at Jamnagar. It is anchored by the Dhirubhai Ambani Green Energy Giga Complex. The agreement aligns with India’s National Green Hydrogen Mission and supports large-scale clean fuel exports.

PFC approves Rs 1.6 lakh crore borrowing plan, closes GIPCL

Power Finance Corporation Limited (PFC) approved a borrowing programme of up to Rs 1,60,000 crore for FY2026-27 on March 17, 2026. The plan includes Rs 1,10,000 crore from domestic sources, Rs 20,000 crore from foreign borrowings, and Rs 30,000 crore from short-term instruments. The board also declared a fourth interim dividend of Rs 3.25 per share, with a record date of March 23, 2026 and payment by April 16, 2026. Separately, PFC confirmed the strike-off of Ghogarpalli Integrated Power Company Limited (GIPCL), incorporated in 2008 for a 4,000 MW UMPP that was later shelved. The trading window will reopen on March 20, 2026.

NHPC commissions 250 MW unit at Subansiri Lower project

NHPC Limited declared CoD of Unit 1 (250 MW) of the Subansiri Lower Hydroelectric Project effective 00:00 hours on March 20, 2026. With this, three units totalling 750 MW are operational out of the project’s 2,000 MW capacity. The project, located on the Assam–Arunachal Pradesh border, resumed construction after being halted in 2011 due to protests. The remaining five units will be commissioned in phases. The project is expected to support regional supply and grid stability.

ReNew’s C&I arm raises USD 95 million equity

ReNew Green Energy Solutions has raised USD 95 million in an equity round led by LeapFrog Investments with USD 50 million. The company operates a 2.5 GW portfolio, with over 2 GW commissioned and around 1.3 GW contracted with companies such as Microsoft, Amazon, and Google. The C&I segment accounts for about half of India’s electricity demand but only 7% renewable share. The segment contributes around 920 million tonnes of CO2 equivalent emissions annually. The funding reflects growing investor interest in this segment.

KPI Green secures Rs 979 crore debt for 150 MW Gujarat wind project

KPI Green Energy Limited has secured Rs 979 crore in debt financing from Canara Bank for a 150 MW wind project in Gujarat. The facility includes a Rs 931 crore term loan and a Rs 48 crore bank guarantee, with a total project cost of Rs 1,241.68 crore at a 75:25 debt-equity ratio. The project is backed by 25-year PPAs with Gujarat Urja Vikas Nigam Limited (GUVNL). The loan has a tenor of slightly over 20 years, including a 16-month implementation period and one-year moratorium. The project is part of KP Group’s plan to scale to 10 GW by 2030.

ANDRITZ wins Tata Power order for 1,000 MW Bhivpuri PSP

ANDRITZ has secured a contract from Tata Power for electromechanical equipment for the 1,000 MW Bhivpuri PSP in Maharashtra. The order includes three reversible pump turbines, motor-generators, and associated systems. It will be booked in ANDRITZ’s Q1 2026 order intake. The company will utilise Indian manufacturing facilities with support from its global network. The project marks the first PSP collaboration between ANDRITZ and Tata Power.

Exicom commissions Hyderabad plant for EV and power electronics

Exicom Tele-Systems Limited commenced commercial production at its integrated manufacturing facility in Raviryala Village, Ranga Reddy District, Hyderabad, on March 16. The Rs 216 crore facility spans 18.4 acres with a built-up area of 2,80,000 sq ft and manufactures EV chargers, Li-ion battery packs, SMPS systems, and IoT products. Phase I increases production capacity by 2.5 times and is expected to create over 750 jobs. The plant incorporates Industry 4.0 systems, includes an ISO 8 cleanroom, and will house India’s first EV charger interoperability testing centre. It also features a 1 MW rooftop solar installation and is designed to meet IGBC standards.

Kansai Electric unit acquires 10% stake in OMC Power

Kansai Electric Power’s transmission and distribution subsidiary has invested about Rs 160 crore to acquire a 10% stake in OMC Power. The transaction adds to existing investments by Mitsui & Co, Chubu Electric Power, and Honda Motor Corporation. The funding will support OMC Power’s plan to build a 1 GW distributed renewable energy portfolio. The investment reflects continued Japanese interest in decentralised energy systems in India’s off-grid and semi-urban markets. Kansai’s role remains that of a strategic minority investor.

Kalpataru secures Rs 2,471 crore orders, FY26 total crosses Rs 22,000 crore

Kalpataru Projects International Limited (KPIL) has secured orders worth approximately Rs 2,471 crore across T&D, metro rail, and buildings sectors. With these additions, total order inflows for FY2026 have reached around Rs 22,000 crore. The company reported Q3 FY26 revenue of Rs 6,665 crore, up 16% year on year, with PBT rising 37% to Rs 277 crore. For the nine month period ended December 31, 2025, revenue stood at Rs 19,365 crore, up 27%, while PBT increased 69% to Rs 889 crore. The company cited a strong pipeline and L1 positions.

EU-backed fund invests USD 32.2 million in UP biogas project

Climate Fund Managers has committed USD 32.2 million in construction equity to Akaia Green Fuels for a compressed biogas project in Uttar Pradesh. The facility will process about 94,000 tonnes of waste annually and produce around 20 tonnes per day of biogas and 123 tonnes per day of organic manure. The biogas will be supplied to GAIL and HPCL under long-term agreements. Commissioning is targeted for the first half of 2027. The project uses a blended finance structure and targets emissions reduction of over 100,000 tonnes of CO2-equivalent annually.

ACME Solar commissions 84 MW of Gujarat wind project

ACME Eco Clean Energy Private Limited has commissioned an additional 8 MW at its 100 MW wind project in Titoda village, Surendranagar district, Gujarat. Total commissioned capacity has reached 84 MW as of March 18, 2026. The project has been developed in phases since October 2025. The remaining 16 MW is yet to be commissioned. Certification from GEDA and PGVCL is pending.

Adani Power appoints Puneet Bansal as company secretary

Adani Power Limited has appointed Puneet Bansal as Company Secretary and Compliance Officer effective April 1, 2026, succeeding Deepak S Pandya. Pandya will retire on March 31, 2026 after serving in the role since August 2015. Bansal brings over 30 years of experience in corporate governance, M&A, and risk management. He joined the Adani Group in 2021 and has overseen compliance across listed and unlisted entities. The appointment represents an internal succession.

Resonia appoints Prashant Sinha as CEO

Resonia Ltd. has appointed Prashant Sinha as Chief Executive Officer (CEO), elevating him from his previous role as Chief Operating Officer (COO). He previously oversaw project portfolios, business acquisition, and execution across the company’s transmission business. Sinha has close to three decades of experience across power, infrastructure, and financial sectors, with prior roles at ICRA, L&T Infrastructure Finance, L&T Finance, Suzlon Wind Energy, Bondbazaar, Avera, and Tata Consulting Engineers. As CEO, he will lead inter- and intra-regional transmission development, with a focus on renewable integration and grid expansion. The company continues to deploy mechanised construction methods, including drone-based stringing and helical pile foundations.