Power Sector News Roundup for May 13, 2026
CleanMax reports record FY2025-26 EBITDA as RE portfolio expands
Clean Max Enviro Energy Solutions Limited reported its highest-ever consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for FY2025-26, supported by growth in its operational renewable energy (RE) portfolio and increasing demand from the data and artificial intelligence (AI) sector. Operational RE power sales capacity rose nearly 80% year-on-year to around 3.1 GW as of March 31, 2026, while the contracted RE power sales portfolio increased to about 5.7 GW. Revenue from operations increased 28% to Rs 1,913 crore, while EBITDA rose 28% to Rs 1,295 crore and profit after tax climbed 340% to Rs 85.6 crore. The company also commissioned nearly 1.4 GW of RE capacity during the year, including its first 525 MWp Central Transmission Utility (CTU)-connected project in Rajasthan. CleanMax additionally announced a strategic co-investment partnership with Apple involving around Rs 104 crore in a 150 MW renewable energy portfolio.
AERB clears restart of Tarapur Unit 2 after refurbishment
India’s nuclear regulator has approved the restart of Unit 2 at the Tarapur Atomic Power Station following an extensive refurbishment programme carried out by Nuclear Power Corporation of India Limited (NPCIL). The Atomic Energy Regulatory Board (AERB) granted permission on May 7, 2026, after reviewing refurbishment work, safety upgrades and inspection findings. The refurbishment included replacement of reactor coolant recirculation piping with corrosion-resistant stainless steel piping, commissioning of a Containment Filtered Venting System (CFVS) and an Alternate Cooling Water System (ACWS), and detailed inspections of critical reactor components. TAPS Units 1 and 2, commissioned in 1969, are Asia’s first commercial nuclear power plant units and are located near Boisar in Maharashtra’s Palghar district. Unit 1 had earlier received restart approval in December 2025 and is currently operating at its rated capacity of 160 MWe.
UP clears Rs 33,000 crore Meja thermal power expansion
The Uttar Pradesh government has approved the Meja Stage II thermal power expansion project in Prayagraj district involving an investment of around Rs 33,000 crore. The project will add 2,400 MW generation capacity through three 800 MW units over the next five years. The expansion will be developed through Meja Urja Nigam Private Limited, a 50:50 joint venture between NTPC Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL). While the proposal has received approval from the state energy task force, final clearance from the Uttar Pradesh cabinet is still pending. NTPC’s board has separately approved equity support of around Rs 3,173 crore for the second phase of the project.
Torrent Power outlines Rs 30,000 crore expansion plan in FY2025-26
Torrent Power Limited reported its FY2025-26 financial results while announcing plans to invest more than Rs 30,000 crore across thermal power, renewable energy and energy storage projects. The company has started construction of a 1,600 MW ultra-supercritical thermal power project in Madhya Pradesh at an estimated cost of Rs 23,000 crore under the Design, Build, Finance, Own and Operate (DBFOO) model. Torrent Power also signed an agreement to acquire 100% stake in Nabha Power Limited for Rs 3,660.87 crore. The company is additionally developing a 3 GW pumped storage hydro project in Maharashtra and has signed a 2,000 MW Energy Storage Facility Agreement with Maharashtra State Electricity Distribution Company Limited. Consolidated revenue from operations for FY2025-26 stood at Rs 28,966 crore, while Total Comprehensive Income (TCI) stood at Rs 2,514 crore.
Coal India shuts solar manufacturing arm
Coal India Limited has dissolved its wholly-owned subsidiary, CIL Solar PV Limited, after the Ministry of Corporate Affairs removed the entity from the Register of Companies under the Companies Act, 2013. The subsidiary had been established as a special purpose vehicle for a proposed 4 GW solar photovoltaic manufacturing facility covering ingots, wafers, cells and modules. Coal India stated that it received the notice regarding the dissolution on May 12, 2026. The company continues to pursue renewable energy expansion and has targeted installation of 3 GW renewable energy capacity by FY2027-28 and 9.5 GW by FY2029-30. During FY2025-26, the company also connected a 100 MW solar power plant at Patan to the grid.
Borosil Renewables posts record FY2025-26 revenue, expands solar glass capacity
Borosil Renewables Limited reported its highest-ever standalone revenue from operations for FY2025-26, supported by higher solar glass prices and improved margins following anti-dumping duties on imports from China and Vietnam. Standalone revenue from operations increased 38% year-on-year to Rs 1,535 crore, while operational EBITDA rose 172% to Rs 492 crore. The company attributed the performance to higher average ex-factory selling prices, which rose to Rs 146.7 per mm from Rs 113.4 per mm in FY2024-25. Borosil Renewables also approved plans to install two new solar glass furnaces with a combined capacity of 600 tonnes per day at an estimated investment of Rs 950 crore. The company additionally approved the creation of a rooftop solar solutions business division.
GE Power India reports strong FY2025-26 growth in core services business
GE Power India Limited reported strong growth in its core services business during FY2025-26 despite lower overall order inflows. Core services order inflow increased 34% year-on-year to Rs 734 crore, while third-party fleet orders nearly doubled to Rs 320 crore. Total order inflow declined to Rs 877 crore from Rs 2,183 crore in FY2024-25 due to the absence of large one-time orders booked in the previous year. The company reported around 19% overall revenue growth during the year, supported by higher upgrade volumes. GEPIL’s Board of Directors also recommended a dividend of Rs 7 per equity share.
Kalpataru reports record FY2025-26 pre-sales and collections
Kalpataru Limited reported its highest-ever annual pre-sales and collections for FY2025-26, supported by strong demand across projects in the Mumbai Metropolitan Region (MMR). Annual pre-sales increased 17% year-on-year to Rs 5,280 crore, while collections rose 34% to Rs 4,960 crore. Consolidated revenue from operations increased 55% to Rs 3,436 crore and adjusted EBITDA rose 50% to Rs 1,022 crore. Profit after tax for the financial year stood at Rs 80 crore. The company also reduced its net debt-to-equity ratio to 2.0x from 3.8x a year earlier.
Alfa Transformers secures Rs 8.15 crore TPWODL contract
Alfa Transformers Limited has secured a rate contract worth Rs 8.15 crore from TP Western Odisha Distribution Limited (TPWODL) for the supply of distribution transformers. The contract includes transformers of 63 KVA, 100 KVA, 250 KVA, 500 KVA and 1000 KVA capacities and will remain valid until May 5, 2028. The company stated that prices will remain variable under the Indian Electrical & Electronics Manufacturers’ Association (IEEMA) price variation formula. The supplied transformers will carry a guarantee period of 66 months from the date of final supply. Alfa Transformers said the transaction is domestic in nature and not a related party transaction.
Natrinai Ventures commissions 75 MW substation in Tamil Nadu
Natrinai Ventures Limited has commissioned a 75 MW, 110/33 kV pooling substation at Pudukkottai in Tamil Nadu. The substation has been connected to the Athanakottai 110/33 to 11 kV substation for integration with the state grid. According to the company, the facility will support power evacuation from solar assets in the region and improve renewable energy transmission reliability. The project is the company’s fourth operational pooling substation in Tamil Nadu. Natrinai Ventures is also preparing to launch an initial public offering (IPO) worth Rs 133 crore to support future expansion.