Power Sector News Roundup for March 24, 2026

Tata Power executes supplementary PPA for Mundra plant

Tata Power has executed a Supplementary Power Purchase Agreement (SPPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for its 4 GW Mundra thermal power plant. Identical agreements are set to be signed with Maharashtra, Rajasthan, Punjab, and Haryana, enabling full capacity revival. The revised structure allows fuel costs as a pass-through, addressing losses that had led to a shutdown of about nine months. Power generation is expected to resume ahead of peak summer demand, with the restart projected to eliminate cash losses and support EBITDA.

Power Grid raises FY26 capex to Rs 35,000 crore, exceeds target

Power Grid Corporation of India (PGCIL) has raised its FY26 capex guidance to Rs 35,000 crore and reported actual capex of Rs 35,540 crore as of March 22, 2026, or about 102% of the revised estimate. The target was increased from Rs 28,000 crore initially to Rs 32,000 crore and then to Rs 35,000 crore. Capitalisation guidance was also revised to Rs 25,000 crore, with Rs 22,749 crore achieved so far. During FY26, the company commissioned 4,239 circuit kilometres of lines, added 60,370 MVA transformation capacity, and operationalised eight substations.

India’s fly ash utilisation reaches 96.34% in 2024-25

India’s coal-fired power stations utilised 307 million tonnes of fly ash in 2024-25, achieving a utilisation rate of 96.34%, based on Central Electricity Authority (CEA) data covering 189 plants with 214 GW capacity. Central sector plants recorded 99.26% utilisation, private sector plants exceeded 100%, while state sector plants lagged at 88.3%. Uttar Pradesh reported 32.8% utilisation in its state sector, with pit-head plants at 30%. Road construction accounted for 34% of utilisation, followed by cement at 28%, while brick manufacturing declined to 405 lakh metric tonnes.

China’s solar firms are bleeding and winning at once

China’s solar sector is facing a downturn driven by oversupply, price declines, and trade barriers, according to a March 2026 CSIS brief. Global PV manufacturing capacity exceeded demand by more than two times in 2024, with module prices falling 50% in 2023 and 25% in 2024. Despite consolidation and workforce reductions exceeding 30% among top firms, China retained dominant shares across polysilicon, wafers, cells, and modules. The report indicates continued pressure on non-Chinese manufacturers and recommends focusing on next-generation technologies.

Adani Green commissions 510 MW renewable capacity in Gujarat

Adani Green Energy Limited (AGEL) has operationalised 510.1 MW of renewable capacity in Khawda, Gujarat. The portfolio includes solar, wind, and hybrid projects across multiple subsidiaries, with generation commencing on March 22, 2026. Key additions include 125 MW and 150 MW solar capacities, 137.5 MW wind, and hybrid capacities totalling 70 MW. AGEL’s total operational renewable capacity has reached 17,982.3 MW.

KPI Green Energy energises 965 MWp of its 2.17 GWp IPP portfolio

KPI Green Energy Limited has energised an additional 376 MWp across Gujarat projects, taking its operational IPP portfolio to 965 MWp. The additions include 182 MWp solar under a GUVNL project and 164 MWp solar plus 30 MWp wind under a hybrid project. The company’s total IPP portfolio stands at 2.17 GWp, with full commissioning targeted by October 2026 for key projects. It has also signed a BESPA with GUVNL for 445 MW/890 MWh of standalone BESS capacity.

TDK plans Rs 4,000 crore BESS manufacturing investment in Haryana

TDK Corporation has proposed an investment of about Rs 4,000 crore to set up a Battery Energy Storage System (BESS) manufacturing unit in Haryana. The proposal was discussed with state and central officials during the Bharat Electricity Summit 2026. Haryana has been allocated 20 MWh of BESS capacity under the VGF scheme, with commissioning targeted by July 2027. The investment remains at an intent stage with no formal agreement or technical details disclosed.

Kalpataru Projects secures Rs 4,439 crore in fresh T&D orders

Kalpataru Projects International Limited (KPIL) has secured new orders worth approximately Rs 4,439 crore in its transmission and distribution business. The orders include a 400 kV transmission line with substations in Africa, projects in India, and a substation in Sweden. With these additions, KPIL has crossed its FY26 order intake target of Rs 26,000 crore. T&D and Buildings and Factories segments account for about 50% and 40% of order inflows respectively.

ACME Solar commissions BESS phases in Bikaner and Jaisalmer

ACME Solar Holdings Limited has commissioned new BESS phases in Bikaner and Jaisalmer, both achieving COD on March 25, 2026. The Bikaner phase includes 60 MW / 269.606 MWh, part of a 250 MW / 1,103.392 MWh project. The Jaisalmer phase adds 95 MW / 200.64 MWh, taking operational capacity to 171 MW / 361.14 MWh out of 285 MW / 601.904 MWh. The projects form part of a 585 MW / 2,011 MWh Rajasthan storage pipeline.

Suzlon wins sixth repeat order of 100 MW from GAIL

Suzlon Energy Limited has secured an approximately 100 MW wind order from GAIL for a project in Nandurbar, Maharashtra. The order includes supply of 47 S120 wind turbine generators rated at 2.1 MW each, along with installation and maintenance services. This is Suzlon’s sixth order from GAIL and its fourth PSU order in the current financial year. The project will support decarbonisation of GAIL’s petrochemical plant.

Tata Power Renewables wins 7.67 MWp rooftop solar project for Pune Metro

Tata Power Renewable Energy Limited has received a Letter of Award for a 7.67 MWp rooftop solar EPC project for Pune Metro Line 3. The project will cover 23 stations and a depot for captive consumption. The scope includes design, procurement, installation, testing, and commissioning. The installation is expected to reduce operational energy costs and improve environmental performance.

JinkoSolar launches AIDC modules for data centres

JinkoSolar has introduced AIDC photovoltaic modules for AI data centres and related infrastructure, based on its Tiger Neo 3.0 TOPCon platform. The modules offer 24.8% front-side efficiency and output of 670W or higher, with bifaciality of 85%. Under specific conditions, a 670W module can deliver 844W effective output. The modules meet IEC and UL fire and safety standards and are designed for high durability and low-light performance.