Power Sector News Roundup for May 26, 2026
Andhra Pradesh clears 2,250 MW Gandikota-2 PSP for Adani Group
The Government of Andhra Pradesh has approved the allocation of the 2,250 MW Gandikota-2 Pumped Storage Project (PSP) in Kadapa district to Adani Hydro Energy Eleven Limited (AHE11L). The project received clearance from the State Investment Promotion Board (SIPB), chaired by Chief Minister N. Chandrababu Naidu. The PSP will be developed at the Lord Balaji Donthi Kona PSP Park in the Gandikota reservoir area under the Andhra Pradesh Integrated Clean Energy Policy 2024. The project is scheduled for completion within 72 months and includes approval for an initial filling requirement of 29.20 million cubic metres (MCM) of water and annual evaporation losses of 2.20 MCM per year.
Fujiyama approves 1.2 GW TopCon solar cell plant in Madhya Pradesh
Fujiyama Power Systems Limited has approved a 1.2 GW TopCon solar cell manufacturing facility at Ratlam in Madhya Pradesh. The project involves an estimated investment of Rs 350 crore and commercial operations are expected to commence in the first quarter of FY2028. The company currently operates a 1 GW Mono PERC solar cell manufacturing facility at Dadri in Uttar Pradesh. Fujiyama stated that the project will support backward integration, reduce cost volatility, and strengthen supply of Domestic Content Requirement (DCR)-compliant solar cells amid implementation of Approved List of Models and Manufacturers (ALMM)-II from June 1, 2026.
ARCI develops nano-composite material for thermal energy storage
Researchers at the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI) have developed a scalable process for producing a spinel nano-composite phase change material (PCM) for thermal energy storage applications. The study demonstrated a 45% increase in specific heat capacity by adding 1% spinel oxide nanoparticles to conventional PCM. According to ARCI, the technology is intended for use in concentrated solar power (CSP) plants and industrial waste heat recovery systems. The research was published in Materials Today Chemistry by Elsevier.
RECPDCL, BSPTCL sign MoU for Bihar intrastate transmission projects
REC Power Development & Consultancy Ltd (RECPDCL) and Bihar State Power Transmission Company Ltd (BSPTCL) have signed a memorandum of understanding (MoU) to develop intrastate transmission projects in Bihar through the tariff-based competitive bidding (TBCB) route. The partnership aims to strengthen Bihar’s transmission infrastructure, improve power quality, and support industrial growth. The initiative will focus on grid modernisation, transparent bidding, faster project execution, and increased private sector participation. According to Central Electricity Authority (CEA) data, no Bihar-specific TBCB transmission project is currently under construction as of April 2026.
Rooftop solar projects risk losing ALMM-II exemption due to DISCOM delays: MNRE
The Ministry of New and Renewable Energy (MNRE) has advised distribution companies (DISCOMs) and related authorities to ensure timely inspection and commissioning of rooftop solar photovoltaic (PV) projects before the June 1, 2026 ALMM-II compliance deadline for solar cells. Projects commissioned before June 1, 2026 remain exempt from mandatory sourcing of solar PV cells from ALMM List-II. MNRE said delays in inspections and commissioning certificates could make otherwise eligible projects non-compliant. The ministry has directed DISCOMs, State Nodal Agencies (SNAs), and Chief Electrical Inspectors to Government (CEIG) offices to facilitate timely processing.
Pace Digitek FY26 revenue rises 8.3% to Rs 2,641 crore
Pace Digitek Limited reported FY26 revenue from operations of Rs 2,641 crore, up 8.3% year-on-year (YoY), while profit after tax (PAT) increased 10.1% to Rs 307.3 crore. The company’s executable order book stood at Rs 11,338 crore as of May 25, 2026, with the energy segment contributing Rs 8,854 crore. During FY26, Pace Digitek commissioned a 2.5 GWh battery energy storage system (BESS) manufacturing platform and executed 480 MWh of utility-scale BESS capacity. The company also reported a net debt-to-equity ratio of 0.09x and cash and bank balances of Rs 769 crore.
Insolation Energy FY26 revenue jumps 61% to Rs 2,163 crore
Insolation Energy Limited reported FY26 revenue from operations of Rs 2,163.52 crore, marking a 61.02% year-on-year increase. Net profit rose 59.75% to Rs 200.63 crore, while EBITDA increased 76.50% to Rs 304.61 crore. During FY26, the company expanded solar photovoltaic (PV) module manufacturing capacity to 5.5 GW through its INA3 facility. Insolation Energy also advanced development of a 4.5 GW TOPCon solar cell manufacturing facility and an 18,000 metric tonnes per annum (MTPA) aluminium frame plant in Madhya Pradesh.
Hitachi Energy Q4 profit rises 80%; approves Rs 2,000 crore capex
Hitachi Energy India Limited reported a 79.7% year-on-year rise in Q4 FY26 net profit to Rs 330.5 crore, while revenue from operations increased 46.2% to Rs 2,754.1 crore. The company approved an additional capital expenditure of Rs 2,000 crore for manufacturing expansion, including a new large power transformer facility at Karjan in Gujarat. Total orders received during Q4 FY26 stood at Rs 2,422.5 crore, while the order backlog reached Rs 29,555.3 crore as of March 31, 2026. The company also commissioned India’s first HVDC city centre infeed project in Mumbai during the quarter.
Suzlon Energy FY26 revenue jumps 54% to Rs 16,679 crore
Suzlon Energy Limited reported consolidated FY26 revenue from operations of Rs 16,679 crore, up 54% year-on-year, while consolidated net profit increased to Rs 3,163 crore. The wind turbine generator (WTG) business remained the key growth driver, with segment revenue rising to Rs 14,040 crore. Suzlon said its order book stood at nearly 5.9 GW, with around 66% contribution from public sector undertakings (PSUs) and commercial and industrial (C&I) customers. The company also completed a National Company Law Tribunal (NCLT)-approved balance sheet restructuring during FY26.
NLC India, NPCIL sign MoU for nuclear power joint venture
NLC India Limited and Nuclear Power Corporation of India Limited (NPCIL) have signed a Memorandum of Understanding (MoU) to establish a joint venture company for nuclear power projects in India. The proposed venture will focus on 700 MW Pressurised Heavy Water Reactor (PHWR)-based projects along with other reactor technologies based on mutual agreement. The agreement also includes potential investment opportunities in NPCIL’s existing and upcoming PHWR projects. The development aligns with India’s target of achieving 100 GW of nuclear power capacity by 2047.
MNRE rules out blanket ALMM deadline extension, sets up case-by-case exemption route
The Ministry of New and Renewable Energy (MNRE) has declined to provide a blanket extension to the June 1, 2026 deadline for mandatory sourcing of solar PV cells from ALMM List-II. However, the ministry has introduced a case-by-case exemption mechanism for eligible projects where investments have already been made. Developers can apply under two categories, including projects with fully installed modules awaiting commissioning and projects that had achieved substantial implementation milestones before the deadline. Applications are required to be submitted through a National Institute of Solar Energy (NISE) portal by June 30, 2026.
UPERC eases compliance norms for green energy open access projects
The Uttar Pradesh Electricity Regulatory Commission (UPERC) has issued a “Removal of Difficulty” order under its Open Access Regulations to simplify compliance requirements for green energy open access (GEOA) projects. The order revises application fees and registration charges for lead aggregator-based projects and removes mandatory check meter installation for voltage levels up to 650 volts unless specifically requested by consumers. UPERC said the amendments are intended to improve commercial viability for multi-consumer GEOA arrangements, including group captive and virtual power purchase agreement (PPA) models. The order takes immediate effect.
JSW Steel, Bharatia and Carbon Iceland sign MoU for green methanol project
JSW Steel Limited, Bharatia, and Carbon Iceland International have signed a Memorandum of Understanding (MoU) to explore development of a 300 kilotonnes per annum (KTPA) green methanol project in India. The project aims to utilise carbon dioxide (CO₂) emissions from JSW Steel’s Raigad operations and convert them into eMethanol using green hydrogen. The agreement was signed during the 3rd India-Nordic Summit in Oslo. The collaboration will initially focus on feasibility studies and technical validation before any commercial-scale implementation.
NTPC Q4 profit rises 51%; expands BESS and renewable pipeline
NTPC Limited reported standalone Q4 FY26 net profit of Rs 8,747.27 crore, up 51.4% year-on-year, while full-year PAT increased 17.9% to Rs 23,162.22 crore. The company stated that implementation of 5 GWh of battery storage capacity at existing thermal power stations is underway. NTPC disclosed that it is working on 1,320 MW of battery storage projects and nearly 18 GW of pumped storage project (PSP) capacity through group entities. NTPC Group’s installed renewable energy capacity reached 12,060 MW during FY26.
ACME Solar signs PPA with SECI for 300 MW FDRE project
ACME Solar Holdings Limited has signed a 25-year Power Purchase Agreement (PPA) with Solar Energy Corporation of India Limited (SECI) for a 300 MW Firm and Dispatchable Renewable Energy (FDRE) project backed by 1,200 MWh of battery energy storage capacity. The tariff discovered under the agreement is Rs 6.28 per unit. The project will supply four hours of assured peak power during non-solar hours and carries an annual availability requirement of 85%. The scheduled commencement of supply date is May 28, 2028.
India now has the world’s largest single-location battery storage project outside China
Adani Green Energy Limited (AGEL) has commissioned a cumulative 3.37 GWh battery energy storage system (BESS) at Khavda, Gujarat, which the company described as the world’s largest single-location battery storage deployment outside China. The latest phase includes 1.99 GWh commissioned on May 26, 2026, in addition to 1.37 GWh commissioned earlier in March 2026. AGEL said the project was completed within 10 months from the start of on-site construction. The company plans to scale battery storage deployment to 50 GWh over the next five years.
UP allots land for Rs 5,000 crore solar manufacturing projects in YEIDA
The Uttar Pradesh government has handed over allotment letters to CESC Green Power Ltd and Integrated Batteries India for solar manufacturing projects in the Yamuna Expressway Industrial Development Authority (YEIDA) region. CESC Green Power will establish a 3 GW solar cell and module manufacturing facility with an investment of Rs 3,805 crore, while Integrated Batteries India will set up a 4 GW solar PV cell manufacturing unit with an investment of Rs 1,146 crore. The projects are expected to generate employment opportunities for around 12,000 people. The state government said the investments would strengthen Uttar Pradesh’s position in green energy manufacturing.
Europe gets a single portal for electricity grid connection data across 27 countries
The European Network of Transmission System Operators for Electricity (ENTSO-E) and the EU DSO Entity have launched Capacitypedia, a digital platform providing electricity grid hosting capacity data across 27 European countries. The portal aggregates publicly available information from transmission system operators (TSOs) and distribution system operators (DSOs). Capacitypedia aims to improve transparency for renewable energy, energy storage, and electric vehicle charging infrastructure developers. The platform was launched during the 12th Energy Infrastructure Forum in Copenhagen on May 22, 2026.