Power Sector News Roundup for March 25, 2026

CIL approves IPO plans for SECL and MCL, up to 25% stake sale

Coal India Limited (CIL) has approved in-principle plans to list its subsidiaries South Eastern Coalfields Limited (SECL) and Mahanadi Coalfields Limited (MCL), with up to 25% equity divestment in each via the Offer for Sale (OFS) route. The decision was taken at the board meeting on March 23, 2026. SECL’s listing will include a fresh issue of up to 10% of post-issue capital, while MCL’s will be a pure OFS. The proposals will be sent to the Ministry of Coal and DIPAM for approvals and remain subject to regulatory clearances and market conditions.

India records 212,522 MW peak evening demand in February 2026

Grid Controller of India Limited reported a peak evening demand of 212,522 MW in February 2026, with the Western Region reaching 73,037 MW on February 14. The highest daily demand of 244,206 MW was recorded on February 13 at 09:56 hrs, while the all-time national record of 250,070 MW remains unchanged. Total energy met stood at 133,047 MU, with no energy deficit reported across states. Renewable generation included 15,782 MU of solar and 4,629 MU of wind, alongside additions of 2,154 MW solar, 337 MW wind, and 303 MW BESS capacity during the month.

Delhi Budget 2026-27: Solar, EV charging and underground cabling drive Rs 3,942 crore power outlay

The Delhi government has allocated Rs 3,942 crore to the Power Department in its Rs 1,03,700 crore Budget for 2026-27, presented on March 24, 2026. The budget earmarks Rs 22,236 crore, or 21.44% of total outlay, for green initiatives. Key measures include expansion of solar adoption under the Pradhan Mantri Surya Ghar Muft Bijli Yojana, Rs 160 crore for underground cabling in Chandni Chowk, and a proposed Rs 200 crore for citywide cabling. The plan also includes 6,130 additional electric buses, Rs 320 crore for charging infrastructure, and expansion of waste-to-energy capacity from 7,000 to 15,000 metric tonnes per day.

UP Cabinet clears coal funding and floating solar project

The Uttar Pradesh Cabinet approved Rs 2,242.90 crore for coal mine development linked to the Ghatampur Thermal Power Project (3×660 MW) and a 20 MW floating solar plant in Gorakhpur. The coal funding supports fuel security for the project being developed by Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) and NLC India Limited (NLC). The Central Electricity Authority (CEA)’s Resource Adequacy Report projects a need for 5,000 MW of unplanned coal capacity in 2026-27, rising to 10,800 MW by 2033-34. It also estimates an additional 45,000 MW of solar capacity requirement in the state, with solar projected to reach 48,779 MW by 2033-34.

Waaree Energies approves Rs 3,900 crore glass capex, ups Transpower stake

Waaree Energies has approved a Rs 3,900 crore investment to set up a solar glass manufacturing plant with a capacity of 2,500 tonnes per day under Waaree Green Glass Private Ltd. The company will also increase its stake in Waaree Transpower Private Ltd from 64.04% to 75.10% by acquiring shares worth Rs 190 crore. The transaction is expected to close by June 2026. Waaree Transpower, based in Alwar, has an installed capacity of 4,000 MVA and manufactures transformers up to 35 MVA 36kV.

NTPC Green signs MoU with Nxtra for round-the-clock renewable power

NTPC Green Energy Ltd has signed an MoU with Nxtra Data Ltd to develop renewable energy projects for round-the-clock power supply to data centres. The agreement enables captive renewable energy consumption for Nxtra’s operations across India. Nxtra currently sources 41% of its power from renewables and has committed to 100% renewable energy under RE100. The collaboration targets scaling clean energy use in the data centre segment.

Acme Solar commissions 155 MW BESS capacity in Rajasthan

Acme Solar Holdings Ltd has commissioned 155 MW / 470.25 MWh of battery energy storage system (BESS) capacity in Rajasthan, taking total commissioned BESS capacity to 297.67 MW / 951.74 MWh. The projects are ISTS-connected and operate on a merchant basis. Its subsidiary, Acme Surya Power Private Ltd, also commissioned a phase of a 35.714 MW / 160.48 MWh BESS project at Jaimalsar, with a commercial operation date of March 26, 2026. The company’s total portfolio stands at 8,071 MW, with 5,093 MW under construction.

ACEN India secures Rs 7,517 million financing for 100 MW wind project

ACEN India has secured Rs 7,517 million in long-term financing from Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation for a 100 MW wind project in Bijapur. The project has a Power Purchase Agreement (PPA) with SJVN Limited and is targeted for commissioning in 2027. It is expected to generate around 330 million units annually and offset over 250,000 tonnes of emissions. ACEN’s managed renewable portfolio in India now exceeds 1 GW.

Purvah Green awards Rs 298 crore EPC contracts for Andhra wind project

Purvah Green Power Private Limited has awarded EPC contracts worth nearly Rs 298 crore for a 300.3 MW wind project in Andhra Pradesh. Contracts include Rs 119.96 crore for a 220 kV transmission line and Rs 177.93 crore for balance-of-plant works for 91 wind turbine generators. The contracts have been awarded to Ceigall India Limited and are scheduled for completion within 10 months. The company also incorporated two wholly owned subsidiaries with a paid-up capital of Rs 1 lakh each.

Maharashtra approves Rs 39 crore equity for Koradi expansion

The Maharashtra government has approved Rs 39.20 crore as equity contribution for the 2×660 MW Koradi Thermal Power Station expansion by Maharashtra State Power Generation Company Limited (Mahagenco). The tranche represents 70% of the Rs 56 crore budgeted for 2025-26. The Central Electricity Authority (CEA) estimates the project cost at Rs 13,200 crore, with Rs 1,723 crore spent in 2025-26. Bharat Heavy Electricals Limited (BHEL) is executing the BTG package, with trial runs scheduled for May and November 2029.

Sanathan Textiles arm to acquire 26% stake in Serentica unit

Sanathan Textiles Limited, through its subsidiary Sanathan Polycot Private Limited (SPPL), will acquire a 26% stake in Serentica Renewables India 33 Private Limited for Rs 48 crore. The investment will enable SPPL to source 32 MW of renewable power as a captive consumer. The transaction will be executed through a Share Subscription and Shareholders’ Agreement (SSSHA) and a Power Supply and Consumption Agreement (PSCA). The target company is a subsidiary of Serentica Renewables India Private Limited.

Powerica raises Rs 329 crore from anchor investors ahead of IPO

Mumbai-based Powerica has raised Rs 329.4 crore from 17 anchor investors ahead of its IPO, allotting 83.39 lakh shares at Rs 375–395 per share. The Rs 1,100 crore issue comprises a fresh issue of Rs 700 crore and an OFS of Rs 400 crore, closing on March 27. Rs 525 crore from the proceeds will be used for debt repayment. Investors include SBI Funds Management, HDFC AMC, ICICI Prudential Mutual Fund, and Kotak Mahindra AMC.