Power Sector News Roundup for May 4, 2026

Maharashtra clears Rs 12,303 crore MAGESTIC clean energy programme

The Maharashtra government has approved a Rs 12,303 crore programme to expand renewable energy and grid infrastructure. The MAGESTIC initiative targets increasing renewable energy share from 17% to 50% by 2030 and includes 40 new substations, transmission upgrades, and high-efficiency conductors. It plans 16,000 MWh of Battery Energy Storage Systems and feasibility studies for pumped hydro projects at Koyna, Panshet, and Varasgaon. About 70% funding is expected from the World Bank, with the remainder from state utilities and Rs 1,377 crore equity support. The programme will be implemented from 2026 to 2031.

MoP phases local content norms for LCC-HVDC substations to 2035

The Ministry of Power has revised Minimum Local Content requirements for LCC-type HVDC substations with a phased schedule up to 2035. The thresholds are set at 30% until March 31, 2028; 40% until March 2030; 50% until March 2032; and 60% until March 2035. The revision replaces the earlier flat 60% mandate under the Public Procurement framework. The ministry cited the complexity of HVDC systems and the time required to develop domestic supply chains. Other provisions of the 2021 notification remain unchanged.

Tata Power Renewable approves Rs 6,500 crore PV ingot and wafer venture

Tata Power Renewable Energy Limited has approved investment of up to Rs 6,500 crore to establish up to 10 GW photovoltaic ingot and wafer manufacturing capacity. The project will be developed in two phases of 5 GW each. The move aims to reduce dependence on imports and strengthen supply for downstream solar operations. The company expects benefits from vertical integration, including supply security and margin improvement. The project has an estimated payback period of around five years.

NCT weighs doubling reverse flow on Raigarh-Pugalur HVDC link

The National Committee on Transmission is examining a proposal to increase reverse flow capacity of the Raigarh-Pugalur HVDC link from 3,000 MW to 6,000 MW. The estimated cost ranges from Rs 1,458 crore to Rs 1,578 crore. The upgrade could raise total transfer capability between Southern and Western regions to around 15,000 MW. The proposal depends on other transmission expansions and system strengthening at Karur and Raigarh. CTUIL has been asked to prepare a detailed scheme before final approval.

Coal India wins 80 MW BESS project from GRIDCO in Odisha

Coal India Limited has received a Letter of Award for 80 MW (320 MWh) Battery Energy Storage System capacity in Odisha. The project is divided into two clusters with tariffs of Rs 3.04 lakh and Rs 3.05 lakh per MW per month. The total project cost is about Rs 400 crore, with execution scheduled within 18 months of BESPA signing. Documentation and a Performance Bank Guarantee are required within 20 days before agreement signing. The project marks Coal India’s entry into grid-scale energy storage.

PFCCL sets up five SPVs for REZ-linked transmission projects

PFC Consulting Limited has set up five Special Purpose Vehicles for transmission systems linked to Renewable Energy Zones. The SPVs will handle projects in Gujarat, Andhra Pradesh, and Tamil Nadu, covering multiple REZ phases and pumped storage integration. Activities include surveys, detailed reports, land acquisition, and clearances. The SPVs will be transferred to selected developers under tariff-based competitive bidding. The move supports evacuation infrastructure for large renewable capacities.

POWERGRID approves Rs 4,000 crore loan facility from SBI

Power Grid Corporation of India Limited has approved raising up to Rs 4,000 crore through an unsecured rupee term loan or credit line from State Bank of India. The decision was taken at a Board meeting on April 30, 2026. The funds will support capital expenditure, primarily in transmission infrastructure. The outcome was disclosed under SEBI regulations to stock exchanges. The facility provides additional financial flexibility for ongoing and planned projects.

MNRE updates ALMM List-II with Renewsys addition, Waaree revisions

The Ministry of New and Renewable Energy has issued the seventh revision of ALMM List-II for solar PV cells. Renewsys India Pvt. Ltd. has been added with 452 MW annual capacity for its bifacial N-Type TOPCon cell. The enlistment is valid until April 29, 2030, with declared efficiency of 24.00% to 25.60%. Specifications for Waaree Energies Limited have been revised across PERC and TOPCon cell categories. The update reflects expansion in domestic manufacturing capacity.

AMPIN commissions 45 MWp group captive solar project in Odisha

AMPIN Energy Transition has commissioned a 45 MWp solar project in Patnagarh under OREP-22. The project supplies power to multiple corporate consumers through open access and is expected to offset about 50% of their grid consumption. It is projected to reduce electricity costs by 25–30% and avoid around 57,000 tonnes of carbon dioxide emissions annually. The company is expanding its Odisha portfolio with additional capacity under construction and development. The project follows a recent 60 MWp commissioning at Kantabanji.

NTPC declares 100 MW solar unit at Ramagundam operational

NTPC Limited has declared commercial operation of 100 MW from its Ramagundam solar project effective May 2, 2026. The unit is part of a 176 MW project. With this addition, NTPC group’s installed capacity has reached 89,805 MW and commercial capacity 88,725 MW. The project contributes to NTPC’s renewable energy expansion. It supports diversification beyond thermal generation.

KP Green Engineering secures Rs 508 crore multi-segment orders

KP Green Engineering Limited has secured orders totalling Rs 507.94 crore across solar structures, transmission towers, and industrial segments. Solar projects account for Rs 237.10 crore, followed by Rs 130.69 crore in transmission towers. Additional orders include pre-engineered buildings, isolators, crash barriers, and cable trays. Execution is planned within the current financial year. The orders provide revenue visibility across multiple sectors.

HPL Electric & Power secures Rs 242 crore smart meter orders

HPL Electric & Power Limited has received orders worth Rs 242.24 crore for smart meter supply. The orders come from existing customers including GMR group entities and infrastructure companies. Execution will follow standard purchase order terms. The development supports ongoing expansion of advanced metering infrastructure. It strengthens the company’s presence in the smart metering segment.

Atlanta Electricals wins Rs 190 crore transformer order from RVPN

Atlanta Electricals Limited has secured a Rs 190 crore order from Rajasthan Rajya Vidyut Prasaran Nigam Limited. The contract includes 53 units of 50 MVA, 132/33 KV transformers and associated fire protection systems. The rate contract is valid for two years with possible extension. Execution will follow RVPN specifications and timelines. The order supports capacity utilisation across the company’s manufacturing base.

Shakti Pumps secures Rs 155 crore MSEDCL solar pump order

Shakti Pumps (India) Limited has received an empanelment for 6,580 solar water pumping systems under a Rs 155.24 crore order. The project falls under the Magel Tyala Saur Krushi Pump Yojana. Execution is scheduled within 60 days from the work order. The scheme includes subsidies, farmer contributions, and a five-year repair guarantee. Eligibility is based on landholding and water access criteria.

Om Power Transmission wins Rs 45 crore GETCO substation order

Om Power Transmission Limited has secured a turnkey substation contract worth Rs 44.95 crore from GETCO. The project covers supply and commissioning of 220 kV and 66 kV equipment for a 220 kV AIS substation. It includes associated civil works. The completion timeline is 18 months. The order expands the company’s presence in Gujarat’s transmission sector.

SWELECT commissions 5 MW solar plant for AAI in Tamil Nadu

SWELECT Energy Systems Limited has commissioned a 5 MW solar plant supplying power to Chennai Airport under a third-party arrangement. The project is connected at 110 kV to a TANTRANSCO substation. Power will be supplied through intra-state open access. The commissioning completes 10 MW allocated under the AAI project. The facility is located in Tiruvannamalai district.

EIM launches 3 MW EV battery swapping station at Nhava Sheva port

Energy in Motion Limited has started operations at a 3 MW battery swapping and charging station at Nhava Sheva Freeport Container Terminal. The facility can serve over 160 heavy electric vehicles daily. More than 130 EIM-Foton vehicles are already using the station. The project supports zero-emission logistics at the port. It is part of efforts to electrify the terminal fleet by FY 2026-27.

Solarworld Energy Solutions appoints four independent directors

Solarworld Energy Solutions Limited has appointed four Non-Executive Independent Directors effective May 1, 2026. The appointees are Mr. Rajiv Gupta, Ms. Ritu Hastir, Mr. Subhash Kumar Changoiwala, and Mr. Upendra Goyal. Their appointments are subject to shareholder approval for five years. The directors bring experience across power, logistics, finance, and governance. The move strengthens board oversight.

Servotech Renewable reports FY26 growth led by EV chargers, solar

Servotech Renewable Power System Limited reported Q4 FY26 revenue growth of 66.6% to Rs 21,120 lakh and EBITDA growth of 70.16%. Full-year revenue rose 8.92% to Rs 64,166 lakh with EBITDA up 26.54%. Profit After Tax increased to Rs 3,625 lakh for FY26. Consolidated revenue remained flat due to reduced trading activity in a subsidiary. Growth was driven by EV charger and solar businesses.

MHI mandates localisation of EV truck electronics under PM E-DRIVE

The Ministry of Heavy Industries has mandated domestic manufacturing of key EV truck electronics from September 1, 2026. Components include battery management systems, DC-DC converters, and vehicle control units. The norms are tied to incentives under the Rs 10,900-crore PM E-DRIVE scheme. Import-based systems will not qualify after August 31, 2026. The move aims to shift production to component-level manufacturing in India.

Waaree outlines multi-segment expansion across solar, storage, and hydrogen

Waaree Energies Limited has outlined expansion across manufacturing, storage, and hydrogen. Plans include a 10 GW ingot and wafer facility, 20 GWh battery manufacturing, and 1 GW electrolyser capacity. Additional investments cover PV glass, transformers, and inverters. The company reported FY26 profit after tax of Rs 3,884 crore on revenue of Rs 26,537 crore. The roadmap targets integrated energy operations and capacity expansion across segments.

Deadline relief for contractors as Centre tags West Asia ‘war’

The Department of Expenditure has issued an Office Memorandum classifying the ongoing West Asia situation as a “war” event under the Force Majeure Clause. Contractors executing central government projects can seek deadline extensions of two to four months without cost or penalty for timelines falling on or after February 28, 2026. Eligibility applies where disruptions such as equipment delays, shipping constraints, or input shortages have affected performance, provided contractors were not in default as of February 27, 2026. Notice of Force Majeure has to be filed within 14 days of disruption, with no retrospective claims allowed. The directive applies only to central government contracts and excludes state-level procurements.