Power Sector News Roundup for March 6, 2026

ACME commissions second phase of BESS project in Rajasthan

ACME Solar Holdings Limited (ASHL), through its wholly owned subsidiary ACME Suryodaya Private Limited, has commissioned the second phase of its Battery Energy Storage System (BESS) project in Rajasthan. The newly commissioned segment adds 38 MW / 82 MWh of storage capacity at the project site in the Jaisalmer district. The project is part of a larger 285 MW / 600 MWh BESS facility located in the villages of Sanwara and Mehar Nagar in Pokhran Tehsil. According to the company, the commercial operation date (COD) for the Phase-II segment is March 5, 2026. Earlier, the first phase of the project added 19 MW / 38 MWh of battery energy storage capacity and became operational on February 25, 2026.

IEX electricity trade rises 30.4% YoY in February 2026

The Indian Energy Exchange Limited (IEX) reported a 30.4% year-on-year increase in electricity trading volumes for February 2026, with total traded volume reaching 12,550 million units (MU). The Real-Time Market (RTM) segment recorded 4,379 MU, up 51.7% year on year, while the Day-Ahead Market (DAM) traded 6,588 MU, marking a 22.7% increase compared to February 2025. The Term-Ahead Market (TAM) recorded 775 MU during the month, a decline of 4.7% from 814 MU in February 2025. Average prices declined across segments, with the DAM clearing price at Rs 3.58 per unit and the RTM average price at Rs 3.59 per unit. The green market recorded 808 MU of trade, up 46.3% year on year, while Renewable Energy Certificate (REC) trading reached 18.86 lakh units.

Apraava commissions Fatehgarh IV transmission project in Rajasthan

Apraava Energy has commissioned the 22-kilometre Fatehgarh IV transmission line and a 400/220 kV pooling substation in Barmer, Rajasthan. The project forms part of a broader transmission scheme supporting 20 GW of renewable energy capacity in Rajasthan under Phase-III Part A1. Developed through Fatehgarh IV Transmission Limited, the project includes five 500 MVA transformers with a combined transmission capacity of 2.5 GW. The 400 kV transmission line connects to Apraava’s existing Fatehgarh-III substation, strengthening renewable power evacuation in the Jaisalmer-Barmer region. The company stated that the project was completed despite challenges including extreme weather conditions, land acquisition issues and right-of-way constraints.

Maharashtra signs MoU for 2,100 MW pumped storage project

The Maharashtra government has signed a Memorandum of Understanding (MoU) with Chambery Power Private Limited, a group company of EDF Power Solutions India, to develop the 2,100 MW Pimpalpada–Savale Pumped Storage Project across Pune and Raigad districts. The project involves a proposed investment of Rs 10,217 crore and is expected to generate around 2,500 employment opportunities. With this agreement, the number of pumped storage projects initiated in Maharashtra has reached 55 with a combined planned capacity of 78,215 MW. The state government estimates that these projects could attract investments of about Rs 4.17 lakh crore and create approximately 1.28 lakh employment opportunities. The project represents the latest engagement by EDF in India’s power sector.

Axis Bank partners with Tesla to offer EV financing in India

Axis Bank Limited has partnered with Tesla as a preferred financier to offer customised auto loan solutions for customers purchasing Tesla vehicles in India. The collaboration aims to simplify electric vehicle financing through tailored repayment options and a digital onboarding process. The financing package includes loan tenures of up to 10 years and repayment structures aligned with individual customer cash flows. The offering will be available across major metropolitan cities and emerging electric vehicle hubs in the country. The bank stated that the partnership aligns with its focus on responsible banking and future-ready financial products.

Jyoti Structures commissions 400 kV Gadag–II transmission line in Karnataka

Jyoti Structures Limited has commissioned the 400 kV Gadag–II transmission line project in Karnataka for ReNew Power. The project includes 100 circuit kilometres of twin High Temperature Low Sag (HTLS) transmission lines connecting the Gadag Power Station and the Koppal Power Station. The transmission line passes through the districts of Gadag and Koppal and supports renewable energy evacuation from the Koppal Solar Energy Zone. The solar zone has an estimated generation capacity of 1,500 MW. According to the company, the project was implemented despite challenges including difficult terrain, right-of-way constraints and complex soil conditions.

SJS Enterprises acquires stake in Karnataka wind power firm

SJS Enterprises Limited has acquired a 2.08 percent equity stake in DB Renews Private Limited (DRPL) for Rs 72 lakh. The acquisition involves 28,800 equity shares with a face value of Rs 250 each and is expected to be completed on or before April 30, 2026. DRPL operates a 27 MW wind power project comprising 10 wind turbine generators of 2.7 MW each in Belagavi district, Karnataka. The investment will enable SJS Enterprises to become a captive consumer of wind power generated by the project. The company stated that the transaction has been carried out on an arm’s length basis.

MNRE begins consultations on floating solar policy and potential assessment

The Ministry of New and Renewable Energy (MNRE) has initiated consultations with states and union territories on draft documents related to floating solar photovoltaic (FSPV) development. The consultation reviewed a draft FSPV Potential Assessment Report prepared by the National Institute of Solar Energy (NISE) and a draft floating solar policy developed by the Indian Institute of Technology Roorkee (IIT Roorkee). According to MNRE, India has commissioned around 700 MW of floating solar capacity so far. States have been asked to conduct internal consultations with departments including Water Resources, Irrigation, Revenue and distribution companies (DISCOMs). The ministry will incorporate feedback before finalising the policy framework.

MNRE notifies green methanol standard for India

The Ministry of New and Renewable Energy (MNRE) has notified the Green Methanol Standard for India. The standard defines green methanol as methanol produced using green hydrogen and caps well-to-product greenhouse gas emissions at 0.44 kilogram of carbon dioxide equivalent (CO₂e) per kilogram of methanol. According to an office memorandum issued on February 27, 2026, renewable energy used in production may include electricity generated from renewable sources that is stored in energy storage systems or banked with the grid. Carbon dioxide used in the methanol synthesis process may be sourced from biogenic sources, direct air capture or existing industrial sources. The standard has been issued under the National Green Hydrogen Mission.

PM inaugurates Rs 3,600 crore Powergrid transmission projects in Rajasthan

Prime Minister Narendra Modi has inaugurated two high-voltage transmission projects in Rajasthan developed by Power Grid Corporation of India Limited (Powergrid) with a combined investment of more than Rs 3,600 crore. The first project, Transmission System for Evacuation of Power from Renewable Energy Zones (REZ) – Phase III Part-B1, includes a 765/400/220 kV Bhadla-III substation and a 765 kV double-circuit Bhadla-III–Sikar-II transmission line. The infrastructure supports evacuation of up to 20 GW of renewable energy capacity. The second project, Transmission System Strengthening Scheme for Evacuation of Power from Solar Energy Zones – Phase II Part-E, adds 8.1 GW of evacuation capacity through a 765 kV double-circuit Bhadla-II–Sikar-II second transmission line. Both projects strengthen the transmission network around the Bhadla solar region.

Indigenous 30 kW EV drive system unveiled at IIT Madras

An indigenously developed 30 kW Wide Band Gap (WBG)-based Integrated Drive System (IDS) for electric vehicles has been unveiled at the Indian Institute of Technology Madras (IIT Madras) in Chennai. The system was developed by the Centre for Development of Advanced Computing (C-DAC), Thiruvananthapuram, in collaboration with IIT Madras and Lucas TVS under the National Mission on Power Electronics Technology (NaMPET). The integrated drive system combines the electric motor and inverter into a single compact unit with high power density. According to officials, the system has been designed, fabricated and validated and is ready for commercialisation. The technology targets the electric passenger vehicle segment, including compact cars and fleet mobility platforms.

UltraTech acquires stake in AMPIN solar project in Odisha

UltraTech Cement Limited has acquired a 26 percent equity stake in AMPIN C&I Power Forty Four Private Limited, which is developing a 45 MWp DC / 30 MW AC solar power project with battery storage in Kalahandi district, Odisha. The investment is valued at up to Rs 15.12 crore. The project will be located at Golamunda and developed on a captive basis with integrated battery storage. UltraTech stated that the investment will help meet regulatory requirements for captive power consumption and reduce energy costs. The acquisition is expected to be completed within 180 days from the execution of the agreements.

MNRE adds six manufacturers to ALMM

The Ministry of New and Renewable Energy (MNRE) has added six manufacturers to the Approved List of Models and Manufacturers (ALMM) for solar modules. The new entrants are Vikram Solar Limited, Army Solar Energy Private Limited, Sahjanand Green Energy LLP, Best Apartment Private Limited, Rajdeep Solar Energy Private Limited and Startup Energy Private Limited. With this update, the ALMM now covers 120 solar module manufacturing facilities with a combined enlisted capacity of about 113 GW. Vikram Solar Limited has secured the largest addition with 3,358 MW capacity at its Kancheepuram facility in Tamil Nadu. Waaree Energies Limited continues to hold the largest enlisted capacity on the ALMM list at around 17 GW.