Power Sector News Roundup for May 14, 2026
NLC India posts record FY2025-26 profit, generation and capex
NLC India Limited reported its highest-ever production, power generation and financial performance during FY2025-26. Consolidated PAT rose 38.91% year-on-year to Rs 3,769 crore, while revenue increased 14.44% to Rs 17,490 crore and EBITDA grew 14.78% to Rs 7,475 crore. Coal production reached 19.14 million tonnes and renewable energy generation stood at 2.26 billion units during the year. The company added 1,013 MW capacity, including 660 MW from the Ghatampur Thermal Power Project and 353 MW from renewable projects. Capital expenditure crossed Rs 9,131 crore, the highest in the company’s history.
PFC reports Rs 42,850 crore PBT with stable asset quality
Power Finance Corporation reported consolidated profit before tax of Rs 42,850 crore for FY2025-26. Consolidated loan assets stood at Rs 11,53,255 crore, while total assets reached Rs 12,44,579 crore. Gross credit impaired assets remained stable at 1.09% and net credit impaired assets at 0.07%. The Board recommended a final dividend of Rs 3.95 per equity share, taking total FY2025-26 dividend to Rs 18.55 per share including interim dividend already paid. Earlier in March 2026, the company approved a Rs 1,60,000 crore borrowing programme for FY2026-27.
CCI approves Adani Power acquisition of GVK Energy
The Competition Commission of India has approved the acquisition of GVK Energy Limited by Adani Power Limited under the corporate insolvency resolution process framework. The acquisition includes control of the 330 MW hydroelectric project operated by Alaknanda Hydro Power Company Limited in Srinagar, Uttarakhand. The transaction marks Adani Power’s entry into the hydropower segment through the insolvency route. Adani Power’s resolution plan was valued at Rs 5,725 crore after Purvah Green withdrew its earlier Rs 5,750 crore proposal. GVK Energy entered insolvency proceedings in May 2025.
Bangladesh completes fuel loading at Rooppur nuclear plant
Bangladesh has completed loading 163 nuclear fuel assemblies into Unit 1 of the Rooppur Nuclear Power Plant. Fuel loading started on April 28, 2026, and was completed under the approved core loading programme and nuclear safety requirements. The project comprises two 1,200 MW VVER-1200 Generation III+ reactors with total capacity of 2,400 MW. The project is being developed by Rosatom under a $12.65 billion contract signed in 2015. Bangladesh now moves closer to becoming the third South Asian country after India and Pakistan to generate nuclear electricity.
ADB commits $5 billion for ASEAN Power Grid
Asian Development Bank has committed $30 billion for the Association of Southeast Asian Nations by 2030, including $5 billion for the ASEAN Power Grid. The announcement was made during the 48th ASEAN Summit in Cebu on May 8, 2026. The ASEAN Power Grid allocation forms part of ADB’s broader support package of up to $10 billion for the regional grid initiative through 2035. Other focus areas under the financing package include capital market deepening, artificial intelligence readiness and river resilience programmes. ADB separately plans to support $70 billion in energy and digital infrastructure investments across Asia and the Pacific by 2035.
FY26 results roundup: Quality Power, Yash HV, GK Energy, Crompton Greaves, Dynamic Cables
Quality Power Electrical Equipments Limited reported consolidated revenue of Rs 1,007 crore for FY2025-26, up 156.9% year-on-year, while PAT increased 85.3% to Rs 185.5 crore. Yash Highvoltage Limited posted 57% revenue growth to Rs 235.1 crore and 75% growth in PAT to Rs 37.4 crore. GK Energy Limited reported revenue of Rs 1,532.54 crore and moved to a surplus cash position of Rs 240.61 crore. Crompton Greaves Consumer Electricals Limited recorded Rs 8,096 crore revenue for FY2025-26 but recognised a one-time impairment charge of Rs 716 crore related to Butterfly Gandhimathi Appliances Limited. Dynamic Cables Limited closed the year with a record order book of Rs 808 crore.
Ceigall India wins Punjab BESS projects worth Rs 375 crore
Ceigall India Limited has secured two battery energy storage system projects in Punjab from Punjab State Power Corporation Limited. The projects include 100 MW BESS capacity worth around Rs 250 crore and a separate 50 MW project valued at around Rs 125 crore. The combined value of the contracts is approximately Rs 375 crore. Both projects are scheduled for execution within 18 months and will operate under a 12-year Battery Energy Storage Purchase Agreement. The renewable energy segment accounted for 19.19% of Ceigall India’s total order book during FY2025-26.
L&T secures Middle East substation EPC orders
Larsen & Toubro Limited has secured multiple EPC orders for extra-high voltage substations in the Middle East through its Power Transmission & Distribution business. The scope includes one 380 kV substation and two 132 kV substations aimed at strengthening regional grid infrastructure. The contracts have been awarded on a turnkey basis with strict execution timelines. Earlier in February 2026, the business vertical had secured turnkey orders for five substations and over 250 km of transmission lines across three countries. L&T’s Energy Projects segment reported a 56% increase in order inflows to Rs 1,36,921 crore in FY26.
Bajel Projects wins Maharashtra, Karnataka transmission EPC orders
Bajel Projects Limited has secured two transmission EPC contracts in Maharashtra and Karnataka, each classified as “Major” orders valued between Rs 200 crore and Rs 300 crore. The Maharashtra project involves a new 765/400 kV air-insulated switchgear substation at Pune East and extension works at Karjat and Lonikand-II substations. The Karnataka project includes construction of around 70 km of 400 kV Quad Double Circuit transmission line between Bellary and Davanagere. The scheme is expected to support evacuation of around 3 GW of renewable energy into the national grid. The company had earlier secured a 500 kV transmission line EPC contract in the Middle East and North Africa region.
ABB to acquire Italian transformer manufacturer Specialtrasfo
ABB has signed an agreement to acquire Specialtrasfo S.p.A., an Italian manufacturer of specialised medium-voltage transformers. Specialtrasfo operates three manufacturing facilities in northern Italy and reported revenues of about €80 million in 2025. ABB plans to integrate the company into its Motion High Power division after completion of the transaction in the third quarter of 2026, subject to regulatory approvals. ABB stated that the acquisition will strengthen supply chain resilience for specialised transformers amid rising demand from industrial electrification and data centres. The company recently announced a €200 million manufacturing investment programme in Europe.
SJVN assigns additional Director (Projects) charge to NHPC executive
SJVN Limited has assigned the additional charge of Director (Projects) to Suprakash Adhikari, currently Director (Technical) at NHPC Limited. The Ministry of Power order took effect from May 12, 2026, with retrospective effect from August 1, 2025. Adhikari has more than 36 years of experience in the hydropower sector and joined NHPC in 1990. He also serves as Chairman of Bundelkhand Saur Urja Limited, a joint venture between NHPC and UPNEDA. SJVN stated that Sushil Sharma ceased to hold the Director (Projects) position from July 31, 2025.
Resonia appoints Aditya Mittal as CFO
Resonia Ltd. has appointed Aditya Mittal as Chief Financial Officer. Based in Mumbai, he will report to CEO Prashant Sinha. Mittal joins the company from Siemens Energy, where he served as Finance Head for Grid Solutions. He has nearly two decades of experience across infrastructure, energy, metals, manufacturing and oil and gas sectors. The company said the appointment aligns with efforts to strengthen financial discipline and operational visibility during its growth phase.