Power Sector News Roundup for October 31, 2025

India

India and Nepal advance cross-border power transmission projects

India and Nepal have signed agreements to develop two high-capacity cross-border transmission corridors to strengthen electricity trade and regional energy cooperation. Power Grid Corporation of India Limited (POWERGRID) and Nepal Electricity Authority (NEA) will form two joint venture entities, one in each country, to implement the projects. The transmission lines include the 400 kV Inaruwa–New Purnea and 400 kV Lamki Dododhara–Bareilly double circuit (quad moose) links. These projects will expand power exchange, improve grid stability, and support South Asian energy integration. The agreements follow an April 2025 Memorandum of Understanding between POWERGRID and NEA for the same projects.

Coal India, Adani Power, BHEL, L&T, and NLCIL post Q2 FY26 results

Coal India Limited (CIL) reported a net profit of Rs 42.63 billion in Q2 FY26, down 32.08 per cent year-on-year, with total income falling 1.10 per cent to Rs 323.27 billion. Adani Power posted a net profit of Rs 29.53 billion, a decline of 11 per cent, with revenue rising 1 per cent to Rs 134.57 billion. Bharat Heavy Electricals Limited (BHEL) recorded a standalone net profit of Rs 3.68 billion, up from Rs 970 million a year earlier, while Larsen & Toubro (L&T) reported a consolidated profit of Rs 39.26 billion, up 16 per cent year-on-year. NLC India Limited (NLCIL) saw revenue rise 14.15 per cent to Rs 41.78 billion, but its net profit declined 26.81 per cent to Rs 6.66 billion.

Adani Green units sign 60 MW hybrid power deal

Adani Solar Energy Jodhpur Six Limited and Adani Renewable Energy Forty One Limited, both subsidiaries of Adani Green Energy Limited, have signed Power Consumption Agreements and Tripartite Agreements to supply 60 MW of hybrid power to a commercial and industrial customer. The power will come from a 50 MW solar plant in Baap, Rajasthan, and a 52 MW wind plant in Khavda, Gujarat. The agreements were executed on October 30, 2025.

Goldi Solar secures Rs 14.22 billion funding to boost manufacturing capacity

Goldi Solar has secured Rs 14.22 billion in funding led by Havells India Limited, with participation from Ambit Global Private Client, Nikhil Kamath, Shahi Exports, SRF Transnational Holdings, and others. The funds will be used to scale solar cell production, enhance high-efficiency module manufacturing, and expand market outreach. SBI Capital Markets advised on the transaction, with Saraf and Partners providing legal counsel. Managing Director Ishver Dholakiya said the funding, completed over six months, will support the company’s expansion plans.

BII commits USD 75 million to Blueleaf Energy for renewable expansion in India

British International Investment (BII) has committed USD 75 million to Blueleaf Energy to develop large-scale solar, wind, and battery storage projects in India. The initiative is expected to add 2 GW of capacity and generate over 3.2 GWh annually. Earlier in October, BII partnered with IndiGrid and Norfund to form Enerica Regrid Infra Private Limited (EnerGrid) to raise up to USD 500 million for greenfield transmission and battery energy storage projects. In May 2025, BII invested Rs 8.7 billion in ReNew Photovoltaics Private Limited, marking its first investment in India’s solar manufacturing sector. These moves reflect BII’s long-term plan to expand its renewable portfolio in India.

L&T wins key offshore wind and grid infrastructure projects

Larsen & Toubro (L&T) has been selected by TenneT, the Dutch-German transmission system operator, in partnership with Hitachi Energy, to supply High Voltage Direct Current (HVDC) converter stations for offshore wind integration across the North Sea. The collaboration combines L&T’s engineering expertise with Hitachi Energy’s HVDC technology to boost renewable power transmission in Europe. L&T said its offshore wind business relies on multidisciplinary capabilities and global partnerships to execute complex projects. Separately, L&T secured major contracts in Saudi Arabia to build a 380/33 kV gas-insulated substation and 380 kV overhead transmission lines covering more than 420 km, strengthening the kingdom’s high-voltage grid.

Global

Saudi Arabia awards 4.5 GW renewable projects

Saudi Arabia’s Power Procurement Company (SPPC) has awarded five renewable projects totaling 4.5 GW under the sixth phase of the National Renewable Energy Programme. The projects, valued at over USD 2.4 billion, include one wind and four solar plants. The 1,500 MW Dawadmi wind project was awarded to a consortium led by Korea Electric Power Corporation, achieving a record-low tariff of USD 0.01338 per kWh. Masdar secured the 1,400 MW Najran solar project at USD 0.01096 per kWh, while the 600 MW Ad Darb and Samtah solar plants went to Masdar and a consortium of Saudi Electricity Company and EDF Power Solutions, respectively. The 400 MW As Sufun project was awarded to Al Jomaih Energy & Water and TotalEnergies Renewables SAS at USD 0.01506 per kWh.