Power Sector News Roundup for May 5, 2026
ADB launches $70 billion grid and digital connectivity plan
Asian Development Bank (ADB) has launched energy and digital infrastructure initiatives worth $70 billion to be implemented by 2035. The programme allocates $50 billion for the Pan-Asia Power Grid and $20 billion for the Asia-Pacific Digital Highway. It targets integration of about 20 GW of renewable energy across borders and development of around 22,000 circuit-km of transmission lines. ADB estimates improved energy access for about 200 million people, a 15% reduction in regional power sector emissions, and creation of approximately 840,000 jobs.
UPPCL awards 375 MW BESS under VGF Tranche 2 auction
Uttar Pradesh Power Corporation Limited (UPPCL) has completed the e-reverse auction for 375 MW / 1,500 MWh BESS capacity under VGF Tranche 2. KCC Buildcon Private Limited and Agastya Energy Industries Private Limited each secured 62.5 MW / 250 MWh at Rs 6.45 per kWh, while MKC Infrastructure Limited won 187.5 MW / 750 MWh at Rs 6.46 per kWh. Eleven bidders participated in the tender issued in September 2025. Projects will operate under 15-year Battery Energy Discharge Purchase Agreements (BEDPA), with developers responsible for land, interconnection, and charging power.
BHEL Q4 profit more than doubles; margins expand sharply
Bharat Heavy Electricals Limited (BHEL) reported a standalone net profit of Rs 1,282.68 crore in Q4 FY26, up from Rs 504.05 crore a year earlier. Total income rose to Rs 12,562.49 crore, while EBITDA increased to Rs 1,754 crore with margins at 14.2%. Power segment revenue grew 53% year-on-year to Rs 9,509.85 crore, with margins rising to 20%. The order book reached about Rs 2,40,000 crore as of March 31, 2026, and the board recommended a final dividend of Rs 1.40 per equity share.
AERB clears equipment erection at Kudankulam Units 5 and 6
Atomic Energy Regulatory Board (AERB) has permitted major equipment erection at Units 5 and 6 of the Kudankulam Nuclear Power Project. The clearance allows Nuclear Power Corporation of India Limited (NPCIL) to install key components including the Reactor Pressure Vessel, Steam Generators, and Coolant Pumps. The approval follows safety review and civil construction assessment under the earlier First Pour of Concrete permit. Each unit has a capacity of 1000 MW, with the project based on VVER Pressurised Water Reactor technology.
GE Vernova to supply 1.35 GW Upper Sileru pumped storage units
GE Vernova Inc. has secured an order from Megha Engineering & Infrastructures Limited (MEIL) for nine 150 MW pumped-storage units. The 1.35 GW Upper Sileru project in Andhra Pradesh is scheduled for completion by 2030. The scope includes design, manufacturing, supply, and commissioning of vertical Francis reversible units. The project is expected to support grid stability and renewable energy integration.
ACME commissions 33.3 MW BESS in Rajasthan
ACME Solar Holdings Limited has commissioned a 33.333 MW / 160.480 MWh BESS at Village Badi Sid in Phalodi and Jodhpur districts. The project achieved commissioning on May 4, 2026, with COD scheduled for May 6, 2026. It was executed through ACME Sun Power Private Limited, increasing the subsidiary’s total BESS capacity to 200.003 MW / 962.940 MWh. The addition expands Rajasthan’s standalone storage capacity.
Premier Energies arm to acquire 26% stake in Hexa Energy BH Five
Premier Energies Limited subsidiary Premier Energies Global Environment Private Limited has approved acquisition of at least 26% in Hexa Energy BH Five Private Limited. The transaction is valued at Rs 68.70 crore and will support captive power for its Solar PV Cell Manufacturing Project in Naidupeta. The target company, incorporated on April 9, 2025, operates in renewable energy generation and transmission. Completion is expected within 16 months, subject to closing conditions.
EU Hydrogen Mechanism draws strong response in first round
European Commission reported strong participation in the first round of its Hydrogen Mechanism. A total of 265 supply-side projects and 45 offtake projects were registered. Expressions of interest covered 87% of supply opportunities, with over half including indicative pricing. The mechanism connects buyers and suppliers to support market development and address infrastructure and financing constraints.
Alfa Transformers wins Rs 3.79 crore TPCODL contract
Alfa Transformers Limited has received a Rs 3.79 crore contract from TP Central Odisha Distribution Limited (TPCODL). The order includes supply of transformers ranging from 63 KVA to 1 MVA across 11/4 KV and 33/4 KV categories. The contract will be executed over two years, with completion by April 25, 2028. Pricing is linked to IEEMA indices with July 15, 2025 as the base date.
GRE Renew Enertech bags Rs 4.32 crore solar EPC order
GRE Renew Enertech Limited has secured a Rs 4.32 crore order from Souraj Energy Private Limited. The project involves a 1,250 kW DC / 900 kW AC ground-mounted captive solar plant on an EPC basis. Execution is scheduled over approximately six months. The company stated the order is part of routine operations and does not change its business model or risk profile.