Power Sector News Roundup for November 10, 2025

India

PFC, Schneider Electric, and KPI Green announce Q2 FY2025-26 results

Power Finance Corporation (PFC) reported a consolidated net profit of Rs 44.60 billion for Q2 FY2025-26, up 2.06% from Rs 43.70 billion a year earlier. Revenue rose 11.82% to Rs 147.60 billion, supported by loan book expansion and cost efficiency. The results were approved by the board on November 7, 2025. Schneider Electric India’s net profit declined 3.5% year-on-year to Rs 52.3 crore, though revenue grew 8.4% to Rs 650 crore. KPI Green Energy’s consolidated revenue jumped 77.40% to Rs 641.10 crore, while profit after tax increased 67% to Rs 116.60 crore. The company declared a 5% interim dividend and announced a Rs 670 crore green bond issuance along with a Rs 3,200 crore loan sanction from the State Bank of India.

ED makes third arrest in Reliance Power money laundering probe

The Enforcement Directorate (ED) has arrested Kolkata resident Amar Nath Dutta in its ongoing probe into a Rs 68 crore fake bank guarantee case involving Reliance Power. This is the third arrest under the Prevention of Money Laundering Act (PMLA). Earlier, the ED had detained former Reliance Power CFO Ashok Kumar Pal and Partha Sarathi Biswal, MD of Biswal Tradelink. The move follows the agency’s November 4 action freezing assets worth over Rs 7,500 crore linked to Anil Ambani and his companies, including land holdings and properties. The case is part of a larger investigation into alleged financial irregularities within the Reliance Group.

Top exits at Reliance NU Energies amid restructuring phase

Reliance NU Energies has seen major management exits with CEO Mayank Bansal and COO Rakesh Swaroop resigning on September 30, less than a year after the company’s formation in December 2024. Both previously worked at ReNew. About a dozen other executives have also left in recent months. Reliance Power stated that the departures were for independent entrepreneurial pursuits and that new professionals are being hired to strengthen operations. NU Energies continues to advance its solar and hybrid project plans despite the leadership changes, even as its parent faces ongoing regulatory scrutiny.

Rajasthan launches India’s largest solar and battery storage project

Rajasthan has launched the country’s largest integrated solar and battery energy storage project at Pugal in Bikaner. Developed by Rajasthan Renewable Energy Corporation Limited through its subsidiary, the park will generate 2,450 MW of solar power with a 5,000 MWh battery system. The project spans 4,353 hectares and follows a plug-and-play model with ready infrastructure. Bidding will open on November 28, 2025, through tariff-based competitive tendering, with expected investments of Rs 6,000–18,000 crore. Power purchase agreements will run for 25 years with Rajasthan Urja Vikas and IT Services Ltd. The project supports India’s 500 GW non-fossil fuel target for 2030.

Coal India and DVC form JV to build 1,600 MW Chandrapura thermal plant

Coal India Limited and Damodar Valley Corporation have signed a joint venture agreement to set up a 1,600 MW coal-based power plant at Chandrapura Thermal Power Station in Jharkhand. The Rs 21,000 crore project will add two 800 MW ultra-supercritical units under a 50:50 partnership. Fuel will be sourced from Central Coalfields Limited, ensuring stable supply. The plant is targeted for commercial operations by FY 2031–32 and will use existing DVC infrastructure to reduce costs and timelines. The venture will also explore future thermal and renewable projects with storage integration.

CEA proposes framework for states to monetise intra-state transmission assets

The Central Electricity Authority has released a framework to help states monetise intra-state transmission assets under an Acquire, Operate, Maintain, and Transfer (AOMT) model. The plan addresses a funding gap of Rs 9.16 lakh crore identified in the National Electricity Plan (Transmission) 2032. Under the AOMT model, private investors can acquire and operate state-owned assets via an SPV for 10–15 years, paying upfront and recovering costs through tariffs. The CEA recommends regulatory clarity on tariffs, taxes, and depreciation to attract investment. It also suggests adopting the demerger route for tax efficiency. The initiative aims to replicate Power Grid Corporation’s 2021–22 InvIT success and enhance state-level grid infrastructure.

Global

China converts thorium into uranium fuel in world-first molten salt reactor

China has achieved a world-first by converting thorium into uranium fuel inside an operational molten salt reactor. The reactor successfully bred thorium into uranium-233, confirming its potential as a sustainable nuclear fuel. Thorium offers advantages such as greater abundance, lower waste, and reduced proliferation risk. The breakthrough positions China ahead in next-generation nuclear technology, with domestic reserves in Inner Mongolia and Sichuan supporting fuel independence. The milestone underscores India’s unfinished goals under its three-stage nuclear programme designed to utilise thorium as fuel.