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					</table><p>Mercom India’s flagship Renewables Summit <a href="https://www.mercomindia.com/mercom-renewables-summit-returns-for-its-sixth-edition-in-july-2026" target="_blank" rel="noopener">returns</a> for its sixth edition on July 9–10, 2026, at the Hyatt Regency in New Delhi, reaffirming its premier position in the country’s clean energy events calendar. Each year, the Summit convenes policymakers, industry leaders, investors, and technology providers to discuss ways to translate policy ambition into tangible outcomes. The 2026 Summit advances that mission with a fresh agenda designed to drive execution and scale.</p>
<p>Maharashtra-based Vikran Engineering <a href="https://www.mercomindia.com/vikran-engineering-bags-epc-contract-for-505-mw-solar-project-in-maharashtra" target="_blank" rel="noopener">received</a> a letter of award worth ₹16.4 billion (~$185.32 million) from Carbonminus Maharashtra One for the engineering, procurement and construction of 505 MW ground-mounted solar projects in Maharashtra. The contract to Vikran Engineering is part of a tender floated by Maharashtra State Electricity Distribution Company for the procurement of power on a long-term basis from 1,052 MW of grid-connected solar projects to be set up on lands of the Water Resources Department of Maharashtra for lift irrigation programs. The tender was floated in March 2024.</p>
<p>The Uttarakhand Electricity Regulatory Commission <a href="https://www.mercomindia.com/uttarakhand-commission-orders-termination-of-ppas-of-laggard-solar-projects" target="_blank" rel="noopener">directed</a> the Uttarakhand Power Corporation to initiate termination of power purchase agreements for 12 solar power projects that have not made any progress or statutory clearances are pending. The case involved the scheduled commercial operation dates of several renewable energy projects that had been delayed due to land and forest clearance, as well as other statutory bottlenecks.</p>
<p>Kerala Electrical and Allied Engineering Company <a href="https://www.mercomindia.com/kel-invites-bids-for-137-mw-solar-projects-in-andhra-pradesh" target="_blank" rel="noopener">issued</a> a tender to set up 137 MW of rooftop or ground-mounted, grid-connected solar projects at government buildings across Andhra Pradesh. The solar systems will range from 1 kW to 5 MW. Bids must be submitted by November 26, 2025. Bids will be opened on November 27. The scope of work entails the design, engineering, supply, installation, testing, synchronization, and commissioning of the solar projects. It also entails providing operation and maintenance services for 25 years.</p>
<p>The Adani Group <a href="https://www.mercomindia.com/adani-group-enters-bess-sector-with-1126-mw-3530-mwh-project-at-khavda" target="_blank" rel="noopener">announced</a> its entry into the battery energy storage system (BESS) sector with a 1,126 MW/3,530 MWh project at the Khavda Renewable Energy Park in Gujarat. The project, which is in the advanced stage of deployment, is expected to be commissioned by March 2026. The BESS will be able to supply 1,126 MW of power into the grid for around three hours. The project will entail the deployment of more than 700 BESS containers. The BESS will play a critical role in easing peak load pressures, reducing transmission congestion, and mitigating solar curtailment. It will also improve grid stability by ensuring round-the-clock availability of renewable power.</p>
<p>Independent power producer JSW Energy <a href="https://www.mercomindia.com/jsw-commissions-3800-tpa-green-hydrogen-facility-in-karnataka" target="_blank" rel="noopener">commissioned</a> a green hydrogen production plant at the JSW Steel facility in Karnataka’s Vijayanagar. The plant will supply 3,800 tons per annum (TPA) of green hydrogen and 30,000 TPA of green oxygen to JSW Steel for low-carbon steel production under a seven-year offtake agreement. This commissioning is part of the company’s 6,800 TPA allocation under the Solar Energy Corporation of India’s Strategic Interventions for Green Hydrogen Transition program. JSW has also signed a memorandum of understanding with JSW Steel to progressively supply between 85,000 TPA and 90,000 TPA of green hydrogen and 720,000 TPA of green oxygen by 2030.</p>
<p>NTPC Green Energy, a wholly owned subsidiary of NTPC, <a href="https://www.mercomindia.com/ntpc-green-energy-issues-debentures-worth-%E2%82%B915-billion" target="_blank" rel="noopener">issued</a> unsecured non-convertible debentures of ₹15 billion (~$169.47 million) through private placement at a coupon of 7.01% per annum for a 10-year and one-day tenor, maturing on November 12, 2035. The debenture issue was approved by the company’s board of directors on April 29, 2025. This is the first debenture issue after the board’s approval.</p>
<p>Australia’s government is <a href="https://www.mercomindia.com/australia-to-supply-three-hours-of-free-power-midday-from-july-2026" target="_blank" rel="noopener">introducing</a> a new regulated electricity offer called Solar Sharer, mandating solar electricity retailers to offer free electricity to households for a minimum of three hours in the middle of the day during peak generation. The government is introducing this offer in July 2026 as part of its retail energy market reforms through the Default Market Offer (DMO). DMO is a maximum price cap on electricity for customers in some regions of Australia who are on a standard or standing offer. The offer will initially be available to all households in DMO-regulated states, including New South Wales, South East Queensland, and South Australia.</p>


<p>The positive effects of the Ujwal DISCOM (distribution company) Assurance Yojana (UDAY) on the power sector are yet to be seen. Currently, <a href="http://mercomcapital.com/maharashtra-becomes-17th-state-to-join-uday" target="_blank" rel="noopener noreferrer">16 states and one union territory</a> have joined since the inception of the program. The Government of India launched the program in an effort to bring about the financial turnaround of DISCOMs in the country. But, even after a year, DISCOMs continue to struggle and in some cases their situation has worsened.</p>
<p>The financial health of DISCOMs has been a primary hurdle for India in scaling its power generation, and is a major reason behind power shortages and cuts, the lack of power for millions of people, inflation, high interest rates for project development, and a lack of financing in the power sector.</p>
<p>In November 2015, the Ministry of Power <a href="http://pib.nic.in/newsite/PrintRelease.aspx?relid=130261" target="_blank" rel="noopener noreferrer">announced</a> UDAY, a DISCOM turnaround program that targets DISCOM debt reduction. Out of the 29 states and seven union territories, only 18 states and one Union Territory gave their ‘in-principle’ approval to join UDAY, and only 16 states and one union territory signed the UDAY Memorandum of Understanding (MoU).</p>
<p>For the ambitious UDAY program to succeed, power tariffs need to increase across the country but, this is yet to happen, commented an official at Haryana Electricity Regulatory Commission.</p>
<p>“The program needs enforcement. Right now the Ministry of Power is focusing on making all the states join UDAY. Instead it should focus on strict implementation of the policies and regulations put forth under the program,” added an official at the Jharkhand State Electricity Regulatory Commission.</p>
<p>For UDAY to be successful, “we need a stable government.” With changing governments, policy implementation takes a backseat, stated an official at Uttarakhand Electricity Regulatory Commission.</p>
<p>Rajasthan has issued UDAY bonds worth Rs.284.55 billion (~$4.19 billion) and not found sufficient takers, which has worsened the situation of DISCOMs in the state, commented an official at Rajasthan Electricity Regulatory Commission. The official also said that for UDAY to be a success, “the government must enforce strict timelines and tariff hikes.”</p>
<p>Banks and lenders are yet to see an impact of UDAY on the solar sector and developers are lamenting that the on-ground reality of UDAY is different from that seen in the ledgers and account books. If DISCOMs are financially better off, it’s not reflected through timely payments.</p>
<p>Distribution companies in the states of Rajasthan, Uttar Pradesh, Uttarakhand, Jharkhand and Karnataka are still <a href="http://mercomcapital.com/commissioning-of-181-mw-solar-projects-extended-in-uttarakhand" target="_blank" rel="noopener noreferrer">postponing signing PPAs</a> leading to delays in project commissioning. According to DISCOMs in these states, the benefits of UDAY will take time to trickle down.</p>
<p>“As we have seen with many government programs, announcing a targeted policy is a good first step but successful implementation and enforcement is where the challenges are. With solar installations forecast to double next year, the financial health of DISCOMs needs to turn around sooner than later for the sector to flourish,” said Raj Prabhu CEO of Mercom Capital Group. “The industry is waiting for UDAY to start making a difference.”</p>


UDAY Program Yet to Make a Positive Difference on the Power Sector

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