Power Sector News Roundup for November 12, 2025

India

ReNew Energy net profit declines 5%, Torrent Power and others post strong Q2 growth

ReNew Energy reported a 5.3% year-on-year decline in consolidated net profit to Rs 467.5 crore for Q2 FY26, compared to Rs 493.9 crore a year earlier, even as total income increased to Rs 3,855.7 crore from Rs 2,988.7 crore, driven by higher revenue across segments. The company’s solar module and cell manufacturing business contributed Rs 1,012.8 crore during the quarter. In contrast, Torrent Power delivered a 50.5% rise in net profit to Rs 723.7 crore, with revenue up nearly 10% to Rs 7,876 crore and EBITDA growing 24.8% to Rs 1,506 crore, improving its operating margin to 19.1% from 16.8%. Borosil Renewables also posted strong results, with net profit rising to Rs 45.8 crore from Rs 12.6 crore a year earlier, revenue up 42.5% to Rs 378.4 crore, and operating margin improving to 32.8% from 18.1%. Finolex Cables reported a 37.8% increase in net profit to Rs 162.6 crore, supported by a 5% rise in revenue to Rs 1,375.8 crore and a margin improvement to 10.5% from 8.1%.

Amar Infrastructure wins SECI’s BoS tender for 200 MW solar project in MP

Amar Infrastructure secured the Solar Energy Corporation of India’s (SECI) balance of system contract for a 200 MW solar project in Madhya Pradesh. The winning bid was approximately Rs 4.39 billion. The scope covers design, engineering, supply, construction, testing, commissioning, and five-year O&M services. The tender, issued in May 2025, excludes PV module supply, which will be provided by the project owner under domestic content requirement compliance.

RDB Infra, NRG Renewable to build 51 MW solar project in Maharashtra

RDB Infrastructure and Power Limited signed an MoU with NRG Renewable Resources Private Limited to build a 51 MWac solar power project across six sites in Maharashtra. The Rs 2.77 billion project will start within seven days of receiving the advance payment. The contract is fully domestic, with no related-party transactions.

ReNew Energy secures $331 million ADB loan for hybrid project

ReNew Energy received $331 million in debt financing from the Asian Development Bank (ADB) for a large-scale hybrid project in Andhra Pradesh. The funding includes up to $291 million from ADB’s capital resources and $40 million from the Leading Asia’s Private Infrastructure Fund 2. The project will combine 837 MWp of wind and solar with a 415 MWh battery system to deliver 300 MW of peak power. The total financial package is valued at $477 million.

Prozeal Green signs PPA with Grasim Industries for 70 MW hybrid project

Prozeal Green Energy signed a power purchase agreement with Grasim Industries for a 70 MW wind–solar hybrid project, with 49.5 MW in Gujarat and 20.5 MW in Andhra Pradesh. The project supports Prozeal’s expansion into integrated renewable solutions that combine solar, wind, battery storage, and green hydrogen. The company recently received SEBI approval for its Rs 700 crore IPO in September.

Adani Group to build India’s largest battery storage project at Khavda

The Adani Group announced a 1,126 MW / 3,530 MWh Battery Energy Storage System at Khavda, Gujarat, marking India’s largest storage installation. The facility will use over 700 containers and is scheduled for commissioning by March 2026. It will enhance grid stability, reduce congestion, and support round-the-clock renewable power. The Group aims to expand its storage portfolio to 15 GWh by March 2027 and 50 GWh within five years.

JSW Energy commissions India’s largest green hydrogen plant

JSW Energy commissioned India’s largest green hydrogen facility at Vijayanagar, Karnataka, under the Production Linked Incentive scheme. The plant will supply 3,800 tpa of green hydrogen and 30,000 tpa of green oxygen to JSW Steel under a seven-year offtake deal. It forms part of JSW Energy’s 6,800 tpa allocation under SECI’s SIGHT programme and supports the National Green Hydrogen Mission. The company targets 30 GW of generation and 40 GWh of storage capacity by FY2030. Meanwhile, the Supreme Court declined to stay an Appellate Tribunal for Electricity order upholding the Central Electricity Regulatory Commission’s tariff ruling for JSW Energy’s 1,000 MW Battery Energy Storage System project. The case remains under review by the court.