Power Sector News

Bondada Engineering secures first major bank-funded term loan for BESS project Bondada Engineering Limited has received sanction for a term loan from Canara Bank to finance the debt component of its Battery Energy Storage System (BESS) project with TNGECL, the company announced in a regulatory filing. The sanction marks the company’s entry into large-scale, bank-funded infrastructure financing and represents a strategic shift toward asset ownership and annuity-based revenue models. The company is also eligible for…

MNRE clarifies customs duty eligibility for wind turbine components Ministry of New and Renewable Energy (MNRE) has issued a circular clarifying revised eligibility for concessional customs duty on imported forged steel rings used in wind energy generators. The clarification, dated 04 February 2026, follows Notification No. 02/2026-Customs issued by the Department of Revenue on 01 February 2026. The notification inserts a new clause covering forged steel rings classified under tariff item 7326 90 99 when…

Advait Energy wins Rs 20 crore ERS order from MSETCL Advait Energy Transitions Limited has secured a domestic Emergency Restoration System order from Maharashtra State Electricity Transmission Company Limited. The order was awarded on February 3, 2026, with a contract value of Rs 19,99,64,841.32, including taxes. It covers procurement of an ERS comprising ten towers, including six suspension towers and four angle towers. The execution period is six months. The company said the order was…

CEA seeks data on grid-forming inverter manufacturing capacity The Central Electricity Authority has asked manufacturers in India to submit details of Grid-Forming inverter production capacity. The exercise is aimed at assessing domestic readiness as renewable energy penetration in the national grid increases. In a formal communication, the Energy Storage System Division said higher solar and wind shares require wider deployment of GFM inverters to support grid stability and reliability. Manufacturers have been asked to share…

India Atlanta Electricals wins Rs 288 crore transformer orders Atlanta Electricals Limited said it has secured new orders worth Rs 288 crore from Karnataka Power Transmission Corporation Limited and a private power producer, according to a regulatory filing. The contracts involve the supply of power transformers and associated systems, with execution planned over the next twelve months. The company received two orders worth Rs 146 crore from KPCL for 13 transformers and related fire protection…

India CEA flags widespread non-compliance with mandatory transformer standards The Central Electricity Authority has flagged continued non-compliance by power utilities with mandatory transformer and reactor rating standards. In a letter dated 24 January 2026, the CEA directed utilities and generation companies to strictly follow standard specifications for transformers and reactors rated 66 kV and above. These specifications were issued in April 2021 and became legally binding under regulations notified in December 2022. The CEA said…

India JSW Neo Energy completes Tidong hydro acquisition JSW Neo Energy Limited has completed the acquisition of Tidong Power Generation Private Limited from Statkraft IH Holding AS on January 29, 2026. The transaction was valued at approximately Rs 1,728 crore and closed after regulatory approvals. Tidong Power is developing a 150 MW run of river hydro project in the Tidong Valley in Himachal Pradesh, scheduled for commissioning in October 2026. The project has a long…

India GE Vernova, L&T and Bondada report strong Q3 FY26 performance GE Vernova T&D India Limited, Larsen and Toubro Limited and Bondada Engineering Limited reported strong quarterly performance, supported by higher order inflows, improved execution and margin expansion. GE Vernova T&D India recorded a 58% year on year rise in revenue to Rs 17.0 billion and profit after tax of Rs 2.9 billion, with order bookings growing 41% to Rs 29.4 billion. L&T reported a…

India IOC plans Rs 1 lakh crore investment for 18 GW green energy by 2030 Indian Oil Corporation Ltd. plans to invest around Rs 1 lakh crore to build an 18 GW green energy portfolio by 2030. The company aims to acquire up to 12 GW of renewable capacity and develop another 6 GW organically through its green energy arm, Terra Clean Ltd. The total equity requirement for the 18 GW plan is estimated at…

India POWERGRID promotes twelve officials to Executive Director roles Power Grid Corporation of India Limited has promoted twelve senior officials to Executive Director roles, effective 25 January 2026, following board approval on the same date. The appointees are classified as Senior Management Personnel, one level below the Board. Key appointments include Abhinav Verma for Rajasthan Projects, Vineeta Agarwal as Chief Executive Officer of Powergrid Energy Services Limited, and Akhilesh Kumar Dixit as Chief Executive Officer…