Power Sector News Roundup for March 3, 2026

ACME arm signs 450 MW FDRE PPAs with SJVN

ACME Greentech Seventh Private Limited, a wholly owned subsidiary of ACME Solar Holdings Limited, has signed two Power Purchase Agreements (PPAs) with SJVN Limited for a total capacity of 450 MW under a Firm and Dispatchable Renewable Energy (FDRE) project. The agreements cover contract capacities of 300 MW and 150 MW, following the company’s earlier disclosure dated November 11, 2025. Power will be supplied at a tariff of Rs 6.74 per unit, with a Scheduled Commencement of Supply Date (SCSD) of March 1, 2028, and a tenure of 25 years from the SCSD. The company stated that SJVN Limited is a domestic entity and clarified that the transactions are not related party transactions.

Bondada Engineering commissions 61.7 MWp solar projects in Maharashtra

Bondada Engineering Limited has commissioned solar power projects with a combined capacity of 61.7 MWp in March 2026. The projects were executed for clients including Paradigm IT and Maharashtra State Power Generation Company Limited (MAHAGENCO) across multiple sites in Maharashtra. The company stated that the projects were delivered through structured project management and established engineering practices, adhering to quality, safety and regulatory requirements. It added that the projects were completed on schedule and handed over in line with client requirements.

Oswal Solar Energy secures Rs 39.4 crore rooftop solar order

Oswal Solar Energy Private Limited, a wholly owned subsidiary of Oswal Pumps Limited, has secured an order worth approximately Rs 39.40 crore (including GST) for installation of 7.46 MWp of grid-connected rooftop solar plants in Andhra Pradesh. The contract was awarded by M/s Swashakthi Energy for installation of systems for 3,729 Scheduled Caste (SC) and Scheduled Tribe (ST) consumers under the PM Surya Ghar: Muft Bijli Yojana. The scope includes design, engineering, supply, installation, testing and commissioning, along with a five-year comprehensive maintenance contract, in the Pulivendula and Puttaparthy divisions under Andhra Pradesh Southern Power Distribution Company Limited (APSPDCL). The company stated that the transaction is not classified as a related party transaction.

MSEDCL sets Rs 45,450 per kW benchmark for rooftop solar

Maharashtra State Electricity Distribution Company Limited (MSEDCL), also known as Mahavitaran, has fixed a benchmark installation rate of Rs 45,450 per kW for residential rooftop solar systems under the Swayampurna Maharashtra Residential Rooftop Solar (SMART) scheme. The rate is about Rs 15,000 lower than the prevailing market price of Rs 60,000 per kW and Rs 4,550 below the earlier state estimate of Rs 50,000 per kW. The decision aims to support nearly five lakh households in the Below Poverty Line (BPL) and Economically Weaker Section (EWS) categories by reducing upfront costs. As of January 2025, Maharashtra’s cumulative rooftop solar capacity has exceeded 5 GW out of a total installed solar capacity of 19.1 GW.

RenewSys to supply 125 MWp TOPCon modules to ENGIE

RenewSys India Pvt. Ltd. has signed a module supply agreement with ENGIE for delivery of 125 MWp of Tunnel Oxide Passivated Contact (TOPCon) photovoltaic (PV) modules for a solar project in Bikaner, Rajasthan. Shipments are scheduled between February and April 2026. RenewSys will supply its 132X G12R TOPCon glass-to-glass modules, designed for high-temperature conditions and incorporating a low temperature coefficient. ENGIE will deploy the modules at its upcoming Bikaner project as part of its renewable energy portfolio expansion in India.

GAIL approves 178.2 MW wind project in Maharashtra

GAIL (India) Limited has approved development of a 178.2 MW greenfield wind power project in Maharashtra with an estimated investment of Rs 1,736.25 crore. The decision was taken at a board meeting held on February 27, 2026. The project will add to GAIL’s existing wind portfolio of 117.95 MW, which is operating at full capacity, and is scheduled for completion within 24 months from award of the Lump Sum Turnkey (LSTK) contract. The investment will be funded through a mix of debt and equity.

Group Surya commissions 500 MW G12R module line in Odisha

Group Surya, parent of Surya International Enterprise Limited, has commissioned a fully automated G12R solar module manufacturing line at its Bhubaneswar facility in Odisha. The line has an installed annual capacity of 500 MW and operates at a cycle time of 20 to 25 seconds per module. The facility manufactures modules in the 450 W to 735 W range and supports Tunnel Oxide Passivated Contact (TOPCon), Heterojunction Technology (HJT), bifacial, half-cut and dual-glass configurations. The company stated that the line integrates artificial intelligence (AI)-based inspection systems and targets a defect rate of fewer than five modules per 10,000 units.