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PFC and REC subsidiaries incorporate SPVs for transmission projects
PFC Consulting Limited (PFCCL), a wholly owned subsidiary of state-owned Power Finance Corporation Limited, and REC Limited have incorporated new special purpose vehicles (SPVs) for transmission projects in Maharashtra, Rajasthan, and Gujarat. The developments were disclosed through regulatory filings dated May 8-9, 2026. PFCCL incorporated two wholly owned subsidiaries, Western Ghats PSP Transmission Limited and…
Schneider Electric to invest in expanding transformer manufacturing
Schneider Electric Infrastructure Ltd (SEIL) has announced plans to expand its medium power transformer manufacturing capacity. In a regulatory filing on February 11, 2025, SEIL revealed that its board of directors approved an investment of Rs 136 million to enhance the existing capacity by 1,500 MVA per year. The investment will be financed through internal…
Taiwan cuts Taipower subsidy, raising electricity cost concerns
Taiwan has slashed its 2025 budget for Taiwan Power (Taipower) by T$100 billion ($3.1 billion), sparking fears of electricity price hikes that could affect industries, including global semiconductor manufacturers, Bloomberg reported. The Democratic Progressive Party (DPP), led by President Lai Ching-te, lost its parliamentary majority in 2024, allowing the opposition Kuomintang (KMT) and Taiwan People’s…
GUVNL concludes 500 MW BESS and 200 MW wind power auctions
Gujarat Urja Vikas Nigam Limited (GUVNL) has announced the results of its 500 MW/1,000 MWh standalone battery energy storage systems (BESS) auction under Phase IV. H.G Infra Engineering secured 250 MW at Rs 225,985/MW/month, while Advait Infratech won 50 MW at Rs 226,000/MW/month. Kintech Synergy and Bhilwara Energy were awarded 100 MW each, quoting tariffs…
Xcel Energy-Google deal adds 1,900 MW clean energy and 30 GWh storage
Xcel Energy has signed an agreement to supply electricity to a new Google data centre in Pine Island, Minnesota, alongside a 1,900 MW expansion of clean energy capacity and deployment of a large long-duration battery system. The Electric Service Agreement will be filed with the Minnesota Public Utilities Commission for approval. Under the agreement, Google…
Waaree Energies subsidiary to acquire Sunbreeze Ninth Cloud
Waaree Energies Limited announced that its wholly owned subsidiary, Waaree Forever Energies Private Limited (WFEPL), has entered into a Share Purchase Agreement to acquire 100% equity in Sunbreeze Ninth Cloud Private Limited. The acquisition is subject to standard closing conditions and is expected to be completed by November 30, 2025, or on a mutually agreed…
