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CEA Steps in as Distribution Transformer Failures Hit 1.3 Million a Year


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					</table><p><a href="https://ayanapower.com/" target="_blank" rel="noopener">Ayana Renewable Power</a>, Jindal Green (<a href="https://jindalrenewables.com/" target="_blank" rel="noopener">Jindal Renewables</a>), Bhalki Solar Power, <a title="https://purvahgreen.com/" href="https://purvahgreen.com/" target="_blank" rel="noreferrer noopener">Purvah Green Power</a>, <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew Solar Power</a>, and <a href="https://www.acmesolar.in/" target="_blank" rel="noopener">ACME Solar Holdings</a> have won the Railway Energy Management Company’s (<a href="https://www.remcltd.com/" target="_blank" rel="noopener">REMCL</a>) auction to supply 1,000 MW round-the-clock (RTC) renewable energy.</p>
<p>Ayana Renewable Power won 140 MW. Jindal Green was awarded 150 MW. Bhalki Solar Power won 200 MW, while Purvah Green won 180 MW, and ReNew Solar won 200 MW. All winners quoted a tariff of ₹4.35 (~$0.049)/kWh.</p>
<p>ACME won 130 MW out of the quoted capacity of 1,000 MW under the bucket filling method, also with a tariff of ₹4.35 (~$0.049)/kWh.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/11/REMCL-Auction-results.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-87086 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/11/REMCL-Auction-results.png" alt="'REMCL's 1,000 MW Round-the-Clock (RTC) Renewable Energy Projects: Auction Result" width="837" height="352" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/11/REMCL-Auction-results.png 837w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/11/REMCL-Auction-results-300x126.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/11/REMCL-Auction-results-768x323.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/11/REMCL-Auction-results-650x273.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/11/REMCL-Auction-results-624x262.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/11/REMCL-Auction-results-600x252.png 600w" sizes="auto, (max-width: 837px) 100vw, 837px" /></a></p>
<p>REMCL <a href="https://www.mercomindia.com/remcl-issues-rfs-for-supply-of-1-gw-round-the-clock-renewable-power" target="_blank" rel="noopener">floated</a> the tender in July this year.</p>
<p>The successful bidders must set up the renewable energy projects and any associated dedicated transmission network, including connectivity up to the delivery point at a voltage level of 220kV or above, at their own cost.  The projects must ensure annual availability of 75% for the first three years of operation and 85% for the remaining contract term.</p>
<p>Bidders must set up renewable power projects with or without storage at their own cost. A power purchase agreement must be signed for 25 years.</p>
<p>All approvals, permits, and clearances required for setting up the projects or the dedicated transmission network will be the responsibility of the selected bidders.</p>
<p>The projects may be located anywhere in India, and renewable energy generation components, including storage systems where applicable, can either be co-located or positioned across multiple sites. The components of RTC generation, including solar, wind, and hydro, must be connected to separate substations on the interstate transmission system.</p>
<p>In July this year, REMCL <a href="https://www.mercomindia.com/remcl-floats-tender-for-3-mw-solar-project-in-noida" target="_blank" rel="noopener">issued</a> a tender to implement a 3 MW solar project at the Dedicated Freight Corridor Corporation of India complex in Noida, Uttar Pradesh.</p>
<p>In June, REMCL <a href="https://www.mercomindia.com/remcl-floats-tender-for-1-25-mw-rooftop-solar-projects-in-maharashtra" target="_blank" rel="noopener">invited</a> bids to set up a cumulative 1.25 MW of rooftop solar projects at four railway stations in Maharashtra.</p>
<p>Earlier, REMCL <a href="https://www.mercomindia.com/remcl-invites-bids-for-supply-of-500-mw-renewable-rtc-power-to-railways" target="_blank" rel="noopener">issued</a> a request for selection for the supply of 500 MW of round-the-clock power from grid-connected renewable energy projects, with or without storage.</p>


Ayana, ReNew, ACME Among Winners of REMCL’s 1 GW RTC Renewable Power Auction


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					</table><p>NTPC Green Energy (<a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NGEL</a>) reported a net profit of ₹863.8 million (~$9.7 million) in the second quarter (Q2) of the financial year (FY) 2026, a 135% rise year-over-year (YoY) from ₹366.9 million (~$4 million).</p>
<p>It reported a total income of ₹6.57 billion (~$74 million), up 25% YoY from ₹5.25 billion (~$59 million).</p>
<p>Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter stood at ₹5.3 billion (~$59.7 million), a 26% jump from ₹4.2 billion (~$47 million) from the same quarter of the previous year.</p>
<p>NGEL’s earnings per share (EPS) came in at ₹0.1 (~$0.001) in Q2 FY 2026, rising from ₹0.06(~$0.0006) in Q2 FY 2025</p>
<p><strong>1H Results</strong></p>
<p>In the first half of FY 2026, NGEL’s net profit rose 75% to ₹3.07 billion (~$34.6 million) from ₹1.75 billion (~$19.7 million).</p>
<p>Its revenue grew 24%  to ₹14.08 billion (~$158.8 million) from ₹11.33 billion (~$127.8 million) during the same period of last year.</p>
<p>The EBITDA in 1H FY 2026 was ₹11.33 billion (~$127.8 million), a 21% YoY increase from ₹9.33 billion (~$105 million).</p>
<p>The company reported an EPS of ₹0.37 (~$0.004), compared to an EPS of ₹0.3 (~$0.003) in 1H FY 2025.</p>
<p><strong>Business Highlights</strong></p>
<p>Currently, NGEL has a total portfolio of over 32 GW of renewable energy projects across India.</p>
<p>These projects include 4,113 MW of projects <a href="https://www.mercomindia.com/ongc-ntpc-joint-venture-acquires-ayana-renewable" target="_blank" rel="noopener">acquired</a> by ONGPL, a joint venture between NGEL and OGL through the acquisition of Ayana Renewable Power.</p>
<p>Its operational capacity of solar projects increased to 6,707 MW as of 1H FY 2026, a 108% YoY jump from 3,220 MW.</p>
<p>NGEL has an operational capacity of 701 MW of wind projects.</p>
<p>The projects generated 5,846 MUs of solar energy and 931 MUs of wind energy in 1H FY 2026.</p>
<p>The company has 15,680 MW of renewable energy projects that have been contracted and awarded, and 9,100 MW in the pipeline.</p>
<p><strong>Partnerships</strong></p>
<p>NGEL signed a joint venture with Chhattisgarh State Power Generation Company for the development of 2 GW of renewable energy projects.</p>
<p>It also partnered with several state-owned entities. It signed a partnership with Andhra Pradesh under AP NGEL Harit Amrit to develop up to 25 GW of renewable energy projects,10 GW of pumped storage projects, and green hydrogen projects.</p>
<p>It set up a joint venture with Maharashtra State Power Generation Company to develop renewable energy parks with a capacity of up to 2.5 GW.</p>
<p>The company is establishing 25 GW of renewable energy and green hydrogen parks in Rajasthan, as well as renewable energy parks and projects in Uttar Pradesh, totaling up to 2 GW.</p>
<p>In Q4 of FY 2025, NGEL <a href="https://www.mercomindia.com/ntpc-greens-net-profit-increases-187-in-q4-fy-2025" target="_blank" rel="noopener">reported</a> a net profit of ₹2.33 billion (~$27.1 million),  a 187% YoY increase from ₹809.5 million (~$9.4 million).</p>


Higher Power Generation Pushes NTPC Green’s Net Profit Up 135% in Q2


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					</table><p>NTPC Green Energy (<a href="https://www.ngel.in/ngel-home" target="_blank" rel="noopener">NGEL</a>), a wholly owned subsidiary of <a href="https://ntpc.co.in/index.php/" target="_blank" rel="noopener">NTPC</a>, has announced the commencement of commercial operations of a 12.5 MW solar capacity at Bhuj, Gujarat. This capacity is part of a total 37.5 MW solar project being developed by Ayana Renewable Power Four, a subsidiary of Ayana Renewable Power.</p>
<p>The newly operational capacity commenced commercial operations on October 17, 2025.</p>
<p>Ayana Renewable Power is a wholly owned subsidiary of ONGC NTPC Green, a joint venture between Oil and Natural Gas Corporation and NTPC.</p>
<p>Following this addition, NGEL’s total commercial capacity stands at 7,407.475 MW. Additionally, NGEL Group’s total installed capacity increased to 7,419.975 MW.</p>
<p>NGEL said it currently has 34 commissioned projects and 38 more under execution. Its renewable energy installed capacity has now reached 3.6 GW.</p>
<p>The company is also executing renewable and hydro projects with a combined capacity exceeding 11 GW, while an additional 20 GW of projects are in various stages of tendering.</p>
<p>Recently, NGEL <a href="https://www.mercomindia.com/ntpc-green-commissions-100-mw-of-ircons-500-mw-renewable-energy-project" target="_blank" rel="noopener">commissioned</a> 100 MW of renewable energy capacity of IRCON Renewable Power’s (IRPL) 500 MW project at the Pavagada Solar Park in Karnataka. IRPL’s parent company, Ircon International, had won the 500 MW capacity at the Indian Renewable Energy Development Agency’s 2021 auction to set up 5 GW grid-connected solar projects.</p>
<p>In August this year, NGEL <a href="https://www.mercomindia.com/ntpc-green-energy-issues-eoi-for-solar-and-bess-projects-in-nicobar-island" target="_blank" rel="noopener">issued</a> an expression of interest for engineering, procurement, and construction services to set up 5 MW ground-mounted solar projects with a 4 MW/12 MWh battery energy storage system and a floating solar project of up to 20 MW in the Great Nicobar Island.</p>
<p>In July this year, the government <a href="https://www.mercomindia.com/government-allows-ntpc-nlc-to-invest-%E2%82%B9270-billion-in-green-energy-arms" target="_blank" rel="noopener">allowed</a> two central public sector enterprises to invest up to ₹270 billion (~$3.14 billion) in their renewable energy subsidiaries. The decision by the Cabinet Committee on Economic Affairs is expected to facilitate the acceleration of India’s renewable energy project development and ensure investments in reliable, round-the-clock electricity across the country.</p>


NTPC Green Energy Adds 12.5 MW Solar Capacity in Gujarat


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					</table><p><a href="https://www.mercomindia.com/average-cost-large-scale-projects-drop-q2" target="_blank" rel="noopener"><strong>The average cost of large-scale solar projects in India declined by 8.1% year-over-year in Q2 of 2023.</strong></a> Continuing from the previous quarter, the cost reduction was primarily driven by the falling module prices, which account for approximately 60% of the solar project cost. The average project costs decreased by 4.5% quarter over quarter. The findings were published in Mercom India Research’s recently released Q2 2023 India Solar Market Quarterly Update.</p>
<p><a href="https://www.mercomindia.com/ministry-viability-gap-funding-energy-storage-projects" target="_blank" rel="noopener"><strong>The Ministry of Power has released a comprehensive framework to create an ecosystem for developing energy storage systems to guarantee affordable, clean, stable, flexible, and secure power.</strong></a> The recommendations range from financial incentives to changes in bidding guidelines for storage projects. The Ministry has proposed policy and regulatory measures that are either under review or may be contemplated in the future. To enhance the cost-effectiveness of energy storage and make the battery energy storage system (BESS) a feasible choice, a recommendation has been made to extend the viability gap funding support to the first few BESS projects.</p>
<p><a href="https://www.mercomindia.com/nlc-invites-bids-for-balance-mw-solar-projects" target="_blank" rel="noopener"><strong>NLC India has invited bids for the balance of system works for 600 MW grid-connected solar power projects at Khavda, Gujarat.</strong></a> The last date for the submission of bids is September 29, 2023. Bids will be opened on the same day. The scope of the work includes design, engineering, site development, manufacture, inspection at supplier’s works, supply, insurance, transport, storage, erection, installation, testing, and commissioning of the total capacity and the evacuation system up to the point of connection (i.e., 33 kV side of 33/400 kV pooling substation).</p>
<p><a href="https://www.mercomindia.com/gokul-milk-floats-tender-for-6-5-mw-captive-solar-power-project-in-maharashtra" target="_blank" rel="noopener"><strong>Cooperative Dairy Golkul Milk Kolhapur has floated a tender for engineering, procurement, and commissioning (EPC) of a 6.5 MW captive solar power project in Maharashtra.</strong></a> The last date for the submission of bids is September 25, 2023. The EPC contractor will be responsible for design engineering, procurement of components, inspections, project installation, and commissioning, along with tasks such as acquiring land, obtaining right-of-way clearances, and liaising with government agencies.</p>
<p><a href="https://www.mercomindia.com/ayana-supply-100-mw-rtc-renewable-hindalco-odisha" target="_blank" rel="noopener"><strong>Ayana Renewable Power, an India-based independent power producer, has signed a power purchase agreement with Hindalco Industries, the metals flagship company of Aditya Birla Group, for the supply of 100 MW of round-the-clock renewable power to Hindalco’s smelters in Odisha.</strong></a> The 25-year power purchase agreement will be facilitated by 330 MW of solar-wind plus storage projects to be developed across India and connected through inter-state transmission systems. Ayana will offer storage solutions in partnership with Greenko Energies’ pumped hydro storage project in Pinnapuram, Andhra Pradesh.</p>


Daily News Wrap-Up: Average Cost of Large-Scale Solar Projects Declines by 8% in Q2


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					</table><p><a href="https://www.ayanapower.com/" target="_blank" rel="noopener">Ayana Renewable Power</a>, an India-based independent power producer, has signed a power purchase agreement with <a href="https://www.hindalco.com/" target="_blank" rel="noopener">Hindalco Industries</a>, the metals flagship company of Aditya Birla Group, for the supply of 100 MW of round-the-clock (RTC) renewable power to Hindalco’s smelters in Odisha.</p>
<p>The 25-year power purchase agreement will be facilitated by 330 MW of solar-wind plus storage projects to be developed across India and connected through inter-state transmission systems.</p>
<p>Ayana will offer storage solutions in partnership with Greenko Energies’ pumped hydro storage project in Pinnapuram, Andhra Pradesh. The captive open access project is expected to have ~50% of solar and wind share.</p>
<p>Shivanand Nimbargi, MD &amp; CEO of Ayana Renewable Power, said, &#8220;At Ayana Renewable Power, we are resolutely committed to steering India&#8217;s energy transition journey. Our latest project marks a pivotal milestone as we deliver 100 MW of uninterrupted, carbon-free power round-the-clock – a pioneering feat in the industrial segment.”</p>
<p>The company claims that the RTC renewable project is the first of its kind globally to supply reliable and continuous power to the aluminum industry.</p>
<p>Aluminum smelting is a concentrated process that requires reliable and uninterrupted power. A round-the-clock power supply is expected to help Hindalco run its smelters without any dependence on grid electricity.</p>
<p>Kumar Mangalam Birla, Chairman of the Aditya Birla Group, at the recent company annual general meeting, had informed that Hindalco’s renewable energy integration has increased by over 54% in the financial year 2023 and currently stands at 150 MW against the company’s target of 300 MW by 2025.</p>
<p>In June 2022, Hindalco <a href="https://www.mercomindia.com/hindalco-to-purchase-power-from-a-5-mw-open-access-wind-project" target="_blank" rel="noopener">entered</a> into an agreement to acquire a 26% stake in Cleanwin Energy SIX’s 5 MW captive open access wind project to procure wind power to help reduce energy costs.</p>
<p>Ayana recently <a href="https://www.mercomindia.com/sprng-ntpc-ayana-o2-1-gw-hybrid-auction" target="_blank" rel="noopener">won</a> the Railway Energy Management Company’s tender to supply 300 MW of RTC power by quoting ₹4.10 (~$0.050)/kWh.</p>
<p>With more and more commercial and industrial entities adopting renewable energy for their electricity needs, Mercom India is hosting the ‘C&amp;I Clean Energy Meet 2023’ in multiple cities across India, bringing together renewable energy industry stakeholders face-to-face with C&amp;I  businesses who wish to transition to renewables.</p>
<p>The next event will be <a href="https://www.mercomindia.com/event/ci-clean-energy-meet-2023-coimbatore" target="_blank" rel="noopener">held</a> in Coimbatore on September 15, 2023, at the Welcomhotel by ITC Hotels, Race Course.</p>


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