Sumitomo Mitsui Banking Corporation Plans $1 Billion Loan To Support Saudi Arabia’s Renewable Energy Transition

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20th March 2026

Indonesia and Singapore are moving closer to a final agreement to develop the Bintan-Batam-Karimun (BBK) Green Industrial Zone, a major step toward strengthening regional cooperation with a focus on sustainable growth. The project is expected to boost economic activity while also promoting environmentally friendly industrial practices, making it an important development for Southeast Asia.

The BBK region, which includes the islands of Bintan, Batam, and Karimun, has long been known for its industrial importance because of its location near busy global shipping routes. With this new plan, both countries aim to transform the area into a modern green industrial hub. The focus will be on industries that follow sustainable practices, helping reduce environmental impact while still supporting economic expansion.

A key part of the project is the use of renewable energy and green technologies. Plans include setting up solar power systems and other clean energy sources to run industrial operations. In addition, waste management will be improved through advanced waste-to-energy solutions, along with water recycling systems to reduce resource use. These steps are expected to attract global companies that are looking for environmentally responsible locations for their operations.

The agreement is also likely to improve trade and logistics between the two nations. Better infrastructure and simplified regulations will make it easier for businesses to operate efficiently in the region. Industries such as electronics, pharmaceuticals, and food processing are expected to benefit the most, as they depend heavily on strong supply chains and reliable infrastructure.

At the same time, the project is expected to bring benefits to local communities. Thousands of jobs are likely to be created across different sectors, including engineering, manufacturing, and services. Both governments have also shown interest in supporting skill development through training and education programs so that local workers can take advantage of new opportunities.

Overall, the BBK Green Industrial Zone reflects a balanced approach to development, where economic progress and environmental protection go together. As Indonesia and Singapore continue to work on this initiative, it may become a model for other regions aiming to build sustainable industrial ecosystems.

Pylontech Expands Southeast Asia Footprint With 150 MWh Energy Storage Deal In Vietnam

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20th March 2026

Pylon Technologies has taken an important step to expand its business in Southeast Asia by signing a major agreement in Vietnam. The company has entered into a strategic cooperation deal with a local partner to supply 150 MWh of energy storage systems. This development shows the company’s growing global reach and also reflects the rising demand for reliable clean energy solutions in the region.

Vietnam has been moving quickly towards renewable energy as part of its plan to achieve net-zero emissions in the coming years. The country has added a large amount of solar and wind power, but these sources depend on weather conditions and are not always stable. Because of this, maintaining a steady power supply has become a challenge. Energy storage systems are now seen as a key solution, as they store excess electricity when production is high and release it when demand increases or generation falls. By providing 150MWh of storage capacity, Pylontech is helping to improve grid stability and support Vietnam’s clean energy transition.

Pylontech is known worldwide for its lithium-iron phosphate battery technology, which offers strong safety features, long life, and high efficiency. The company provides storage solutions for homes, businesses, and large utility-scale projects. In this Vietnam project, its advanced systems are expected to deliver reliable performance and help manage power fluctuations effectively. The agreement is not limited to supplying equipment, but also focuses on building a long-term partnership to support local development and promote the use of sustainable technologies.

Southeast Asia is becoming an important market for energy storage companies. Governments in the region are introducing supportive policies, and there is a growing need to ensure energy security. Vietnam, in particular, offers strong opportunities due to its rapid renewable energy growth. This agreement will help Pylontech strengthen its presence in the region and create a model for future projects in nearby countries.

Overall, the 150 MWh deal is beneficial for both Pylontech and Vietnam’s energy sector. It will help build a more stable and efficient power system while supporting the shift towards cleaner energy sources. The project is expected to set a benchmark for energy storage deployment in Southeast Asia and encourage further investments and innovation in the region.

Thailand Launches UGT2 Program To Boost Corporate Access To Renewable Energy

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20th March 2026

Thailand has taken another important step toward clean energy adoption by launching the second phase of its Utility Green Tariff program, known as UGT2. The initiative has been introduced by the country’s Energy Regulatory Commission to support businesses in accessing reliable and verifiable renewable energy while meeting global sustainability and carbon reduction targets.

The UGT2 program is mainly designed for large industrial and commercial consumers that need a stable and long-term source of green electricity. Unlike the first phase, which depended on existing renewable energy sources, this new phase focuses on electricity generated from upcoming renewable projects that are expected to start operations between 2024 and 2030. These projects include solar, wind, and biogas energy. This approach ensures that new demand from businesses directly contributes to increasing the overall share of clean energy in the national grid.

A key feature of the UGT2 scheme is the inclusion of Renewable Energy Certificates. Under this bundled system, companies receive not only the physical supply of electricity but also certified proof that the energy comes from renewable sources. This is especially important for multinational companies that are required to report their environmental performance. The certification process follows international standards, ensuring transparency and avoiding any double-counting of green energy benefits.

The pricing for UGT2 has been set at around 4.56 Thai Baht per kilowatt-hour. Although this is slightly higher than conventional electricity generated from fossil fuels, it offers long-term price certainty. Businesses can benefit from stable energy costs and reduced exposure to fluctuations in global fuel prices. The program also provides a fixed contract period of 10 years, which helps companies plan their operations with greater confidence.

Overall, the UGT2 initiative is part of Thailand’s broader strategy to strengthen its position as a competitive manufacturing hub in the region. With global supply chains increasingly focusing on low-carbon production, access to clean energy is becoming a key factor for investment decisions. By enabling businesses to secure green power easily, Thailand is supporting its transition toward a more sustainable and energy-secure future.

Sunsure Energy Signs Solar PPA With JAKSON Engineering Limited To Power Noida Operations

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20th March 2026

rows of solar modules in photovoltaic power station — Representational image. Credit: Canva

Sunsure Energy has signed a long-term power purchase agreement with JAKSON Engineering Limited, part of the JAKSON Group, to supply solar power for its corporate and manufacturing operations in Uttar Pradesh. The agreement marks another step toward increasing the use of renewable energy in industrial operations in India.

Under this agreement, Sunsure Energy will supply around 7.28 million units of solar power every year to JAKSON’s corporate office in Noida and its manufacturing facility in Greater Noida. This supply is expected to replace a significant share of conventional grid electricity used by the company. The solar power arrangement has a total capacity of 4.7 MWp and is designed to meet a large portion of JAKSON’s energy needs.

The transition to solar energy will help JAKSON reduce its dependence on traditional power sources. Around 80 percent of the electricity consumption at its corporate office will be replaced by solar power, while up to 40 percent of the energy needs at its manufacturing facility will also be covered. This shift is expected to lower operational emissions and support cleaner production practices.

The environmental impact of the project is also notable. The solar power usage is expected to reduce nearly 5.2 million kilograms of carbon dioxide emissions every year. This reduction is considered equivalent to planting more than 2.3 lakh trees, highlighting the role of renewable energy in addressing climate concerns.

A senior representative from JAKSON said that sustainability is a key part of the company’s operations and this agreement will help strengthen its clean energy efforts. The company also noted that the move is aligned with India’s broader goal of increasing renewable energy use and achieving energy independence.

From Sunsure Energy’s side, the leadership highlighted that such partnerships show how industries are increasingly adopting clean power solutions in their daily operations. The company believes that the growing involvement of industrial players in renewable energy will play a major role in accelerating India’s energy transition and reducing carbon emissions.

The agreement also supports Sunsure Energy’s “UP Shakti” mission, which focuses on promoting renewable energy adoption across Uttar Pradesh’s industrial sector. The company already provides round-the-clock renewable energy solutions to several industries across India, including sectors such as cement, metals, pharmaceuticals, data centres, and manufacturing.

KETRACO Launches GREEN Phase 2 To Strengthen Grid Stability With STATCOM Installations

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20th March 2026

The Kenya Electricity Transmission Company (KETRACO) has launched a major initiative to strengthen the country’s power grid under the Kenya Green and Resilient Expansion of Energy (GREEN) Program Phase 2. Supported by funding from the World Bank, the project focuses on improving grid stability and enabling better integration of regional hydropower and domestic renewable energy sources.

A key part of the project involves the installation of advanced grid stabilization technologies, including Static Synchronous Compensators (STATCOMs) and other reactive power compensation systems. These systems will be deployed at the Suswa converter station and the Rabai substation near Mombasa. The goal is to enhance voltage stability and ensure reliable electricity supply, especially in regions that face challenges due to long transmission distances.

The need for this upgrade is linked to the increasing power flow from the Ethiopia-Kenya interconnector. While the interconnector plays an important role in regional energy exchange, operating it above 200 MW without proper system support can create risks such as voltage instability and potential outages. The introduction of STATCOMs will provide fast and dynamic voltage control, helping maintain system balance and improving overall network performance.

The project has been divided into two main components. The first component includes the installation of mechanically switched shunt busbar reactors along with a 120 MVA STATCOM at the Suswa station. The second component involves the installation of a shunt capacitor and a 120 MVAr STATCOM at the Rabai substation. These additions are expected to reduce dependence on expensive fossil fuel-based power generation, which is currently used to support voltage levels in the grid.

In addition to infrastructure development, KETRACO is also focusing on ensuring proper project execution. The company has invited experienced consulting firms to express interest in providing construction supervision and project management services. The consultancy will include design review, site supervision, and training of KETRACO’s technical staff.

The consultancy contract is expected to run for at least 18 months. Firms applying for this role must have more than 15 years of experience in high-voltage substation projects and should have handled similar large-scale assignments in the past. Interested consultants have been given a deadline of March 31, 2026, to submit their proposals.

This project is seen as a crucial step toward improving grid reliability and supporting Kenya’s long-term goal of achieving a clean and stable energy system.

Arevon Secures $920 Million Package, Including Major Debt And Preferred Equity, To Advance The Nighthawk Battery Storage Facility

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20th March 2026

Arevon Energy, Inc., a major U.S. developer and operator of renewable energy assets, has announced the successful closing of a $920 million financing package for its Nighthawk Energy Storage Project. This utility-scale battery project has a capacity of 300 megawatts (MW) and 1,200 megawatt-hours (MWh) and is currently being built in Poway, California.

The financing package brings together several components. The first is a $482 million debt facility arranged by CIBC as the Left Lead Arranger, with support from ING Capital LLC, NORD/LB, Santander, and Zions Bancorporation. In addition, Arevon secured a $169 million preferred equity investment from Goldman Sachs Alternatives, which helps streamline the process of using tax credits.

The final component is a $268 million tax credit transfer commitment from a corporate buyer. Arevon received legal support from Latham & Watkins and Sheppard. The lenders were advised by Norton Rose Fulbright and Allen Matkins. Milbank LLP and Allen Matkins represented Goldman Sachs, while CG/CRC-IB acted as tax equity advisor to Arevon.

CIBC expressed strong support for the project, noting its central role in structuring the debt facility. Emma Raine, Executive Director of Project Finance at CIBC, emphasized that working with Arevon reinforces the bank’s commitment to advancing renewable energy across the United States. She highlighted the importance of innovative financing structures for enabling sustainable economic growth.

Goldman Sachs Alternatives also commented on its involvement. Vikas Agrawal, Managing Director and Co-Head of Energy Transition Climate Credit, explained that the preferred equity investment aligns with the group’s goal of providing flexible financing to speed up the development of essential infrastructure. He noted that energy storage plays a critical role in improving grid reliability and supporting the broader clean energy transition.

Arevon’s Chief Investment Officer, Denise Tait, emphasized the importance of combining multiple financial tools—debt, preferred equity, and transferability structures—to secure funding for large storage projects. She explained that this transaction shows how creative financial solutions can support long-term investment, even when policies and markets are shifting. According to her, the strong partnerships behind the deal reflect Arevon’s focus on creating long-term value.

Once completed, Arevon will own and operate the Nighthawk Energy Storage Project. Over its lifespan, the facility is expected to generate more than $30 million in property tax revenue, which will support schools, public services, and infrastructure improvements in the region. During its construction peak, the project employed more than 130 workers and contributed to the local economy by driving business to restaurants, hotels, and retail stores.

Arevon also worked closely with the City of Poway throughout the development process, noting that city officials played a key role in its progress. When it becomes operational later this year, the facility will be able to supply enough stored energy to power 385,000 homes for up to four hours during peak demand.

The Nighthawk project relies on lithium iron phosphate battery technology, selected for its safety, efficiency, and reliability. The system will improve grid stability in the San Diego area by storing electricity when demand is low and delivering energy when usage rises. Under a long-term agreement, the project will provide resource adequacy capacity to Pacific Gas and Electric Company (PG&E), supporting California’s broader goals for clean energy and grid dependability.

Arevon continues to be a major force in renewable energy development across the United States, especially in California. The company operates more than 3.7 gigawatts of renewable energy projects nationwide, representing over $5 billion in capital investments. It has also recently announced milestones at several other California sites, including the launch of operations at the Peregrine Energy Storage Project, the Eland 1 Solar-plus-Storage Project, the Vikings Solar-plus-Storage Project, and the Condor Energy Storage Project.

The company has also secured offtake agreements for the Cormorant and Avocet Energy Storage Projects. Its projects have earned notable industry recognition as well, with the Condor project receiving Proximo’s North America Storage Deal of the Year and the Vikings Solar-plus-Storage Project winning IJGlobal’s Renewables Deal of the Year – Energy Storage Award and Proximo’s North America Solar Deal of the Year.

KETRACO Launches Kimuka 400 kV Substation Project To Strengthen Nairobi Power Grid

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20th March 2026

photography of electric tower during sunset — Representational image. Credit: Canva

Kenya Electricity Transmission Company has started a major power infrastructure project aimed at strengthening the national grid and improving electricity reliability in the Nairobi region. The initiative, called the Kimuka 400kV Substation Phase II, is part of the larger Kenya Green and Resilient Expansion of Energy Program supported by the World Bank.

The project is designed to address key challenges in Kenya’s transmission network. At present, nearly 70 percent of the country’s renewable energy is routed through the Suswa substation. However, the existing 220kV transmission line connecting Suswa to Nairobi is often overloaded. This has created serious supply risks, including voltage instability and occasional nationwide blackouts. With growing electricity demand and increasing renewable energy generation, the need for network expansion has become more urgent.

To solve this issue, KETRACO plans to construct a new 400/220kV substation at Kimuka, located around 30 kilometers from Nairobi. This new facility will allow the Suswa-Isinya transmission line to operate fully at 400kV capacity. As a result, power flow will be better managed, congestion in the network will be reduced, and overall grid stability will improve significantly.

The project includes the development of a greenfield substation equipped with two 200 MVA transformers, along with other associated infrastructure. In addition, “Line In Line Out” works will be carried out to connect the existing Suswa-Isinya 400kV double circuit transmission line to the new Kimuka substation. These upgrades are expected to enhance the efficiency of power evacuation from renewable energy sources and ensure a more stable supply to consumers.

To ensure smooth execution, KETRACO has invited experienced consulting firms to submit expressions of interest for project management and construction supervision services. The selected consultant will act as the Owner’s Engineer and will be responsible for overseeing design reviews, factory testing of equipment, and on-site supervision. The consultant will also monitor the project during a 12-month defects liability period after completion.

In addition to technical responsibilities, the consultant will ensure compliance with environmental and social standards. The role also includes providing training to 15 KETRACO engineers through both formal sessions and on-the-job experience, helping to build local capacity in managing high-voltage infrastructure projects.

Firms applying for the consultancy must have at least 15 years of experience in high-voltage substation projects. The deadline for submitting expressions of interest is March 27, 2026, and the consultancy contract is expected to run for about 18 months.

This project is an important step in supporting Kenya’s transition to clean energy. By strengthening transmission infrastructure, it will help improve reliability, reduce power costs, and support the country’s long-term goal of achieving a fully sustainable energy system.

Ignacio Galán Attends Ceremony Honouring Sergio Mattarella With An Honorary Doctorate From University Of Salamanca

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20th March 2026

Ignacio Galán attended a ceremony in which the President of the Italian Republic, Sergio Mattarella received an honorary doctorate from the University of Salamanca. The event was presided over by King Felipe VI. The honorary doctorate represents the highest academic honour granted by the University of Salamanca.

Ignacio Galán, who serves as president of the university’s Social Council, highlighted the importance of this recognition. The distinction acknowledges Sergio Mattarella’s long political and academic career, as well as his strong commitment to humanism, culture, and European values. These principles are seen as essential for maintaining democratic coexistence and supporting the broader European project.

AIIM Advances $50 Million ATAF Fund To Boost Clean Energy And Infrastructure Across Africa

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20th March 2026

African infrastructure investment is gaining fresh momentum as African Infrastructure Investment Managers moves ahead with a new fund focused on climate-resilient development across the continent. The company is working toward a $50 million first close for its African Clean Energy & Infrastructure Fund II, also known as ATAF, marking an important step in mobilizing capital for sustainable projects in emerging markets.

The planned fund aims to support key sectors such as renewable energy, digital infrastructure, and mobility. These areas are considered critical for Africa’s long-term economic growth, but they often face funding challenges. By targeting these sectors, AIIM is looking to address the financial gap that slows down large-scale green projects. The $50 million initial close is expected to provide early capital that can be deployed into carefully selected projects, while also building confidence among investors.

A major focus of the fund is to improve access to clean and reliable energy. Many African countries still deal with frequent electricity shortages and depend heavily on fossil fuels. Through investments in solar, wind, and hydropower projects, ATAF plans to offer cleaner alternatives that can support both economic activity and environmental goals. This shift is important as countries across the continent work to balance development needs with climate commitments.

In addition to energy, the fund also highlights the importance of digital infrastructure. Expanding data centers and fiber-optic networks is becoming essential as more economies rely on digital connectivity. Improved internet access can help businesses grow, support education, and create new opportunities in both urban and rural areas. By including this sector, the fund reflects a broader understanding of modern infrastructure needs.

AIIM’s strategy goes beyond just providing financial support. The firm is using its experience in managing infrastructure assets across Africa to handle risks and navigate different regulatory environments. This approach is expected to improve project execution and ensure that investments deliver long-term value.

The development comes at a time when there is growing global demand for private sector participation in climate finance, especially in developing regions. While several international funds are active, ATAF is designed specifically for African markets, making it more aligned with local conditions and priorities. As the fund moves closer to its first close, it signals a gradual shift toward sustainable infrastructure development, which could improve electricity access, digital connectivity, and transport systems for communities while supporting environmental protection.

Nigeria’s DARES Project To Deliver Clean Power To 17.5 Million People With World Bank Support

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20th March 2026

A major international effort is underway to expand electricity access in Africa, with a strong focus on Nigeria, where about 17.5 million people are set to benefit from a new clean energy program. The initiative, known as the Distributed Access through Renewable Energy Scale-up (DARES) project, is supported by a $750 million credit from the World Bank through its International Development Association.

The project aims to tackle one of Africa’s biggest challenges—limited access to reliable electricity. In Nigeria, over 85 million people still do not have access to the national grid. Even those connected often experience frequent power cuts, forcing households and businesses to depend on costly and polluting diesel generators. The DARES project plans to reduce this dependence by promoting cleaner and more sustainable energy solutions.

Instead of focusing only on large, centralized power plants, the project emphasizes distributed energy systems. These include solar mini-grids that can supply electricity to entire villages and standalone solar home systems for individual households. Such solutions are easier and faster to install, especially in remote and rural areas where extending the traditional grid is difficult and expensive.

The program is expected to have a significant impact on the local economy. More than 200,000 small and medium-sized businesses in Nigeria are likely to benefit from improved access to reliable electricity. With a consistent power supply, these businesses can operate for longer hours, improve productivity, and adopt modern equipment. This is expected to create new job opportunities and support economic growth in underserved regions.

The initiative also focuses on social inclusion. It includes specific measures to support female-headed households and women-led businesses, ensuring that the benefits of electrification reach vulnerable groups. Access to electricity can improve living conditions, enhance education, and support healthcare services in rural communities.

The DARES project is part of a broader program called Mission 300, a joint initiative of the World Bank and the African Development Bank. Mission 300 aims to provide electricity to 300 million people across Africa by 2030.

By encouraging private sector participation and strong coordination between governments and financial institutions, the initiative aims to show that renewable energy can play a key role in reducing poverty and driving development. For millions of people in Nigeria, this effort represents a step toward reliable power and improved quality of life.

EBRD Extends €30 Million Green Loan To NLB Skopje Under WB GOLD, Marking First Use Of The Framework In North Macedonia

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20th March 2026

The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to €30 million to NLB Skopje through the Western Balkans Green Outcomes-Linked Debt Financing Framework (WB GOLD). This marks the first loan issued under this framework in North Macedonia, making it an important step in promoting sustainable finance in the country.

The purpose of this facility is to support small and medium-sized enterprises (SMEs), helping them strengthen and expand their businesses. At the same time, the funding is meant to encourage companies to invest in environmentally sustainable equipment and technologies. These investments may include energy-efficient machinery, renewable energy systems, or other green assets that reduce environmental impact while improving business performance.

WB GOLD is an innovative approach to green financing. It uses outcome-based incentives to motivate banks and other financial institutions to grow their portfolio of green loans. By linking financial benefits to actual environmental results, the framework ensures that support goes to projects that make a measurable difference. It also helps improve green lending standards across the financial sector while addressing the broader financing needs of SMEs and mid-cap companies.

This initiative aligns fully with the EBRD’s goals for the Western Balkans. These goals include supporting economic growth by strengthening the private sector and advancing the transition toward greener, more resilient economies. By making it easier for businesses to access funding for sustainable technologies, WB GOLD not only contributes to environmental improvements but also enhances productivity and competitiveness in the long term.

The loan agreement was formally signed by the EBRD’s Head of North Macedonia, Fatih Türkmenoğlu, and NLB Skopje’s CEO, Toni Stojanovski. During the signing, Mr. Türkmenoğlu expressed satisfaction with the partnership and emphasized the importance of directing innovative green financing to North Macedonia’s SME and mid-cap sector. He noted that the WB GOLD framework effectively transforms financial support into real environmental benefits and sustainable economic progress.

Mr. Stojanovski highlighted that green financing represents both an opportunity and a responsibility for businesses. He stated that every company has the potential to contribute to positive environmental change. By helping businesses invest in cleaner technologies, energy-efficient practices, and responsible resource management, NLB Skopje and the EBRD aim to accelerate the transition toward more sustainable business operations.

The EBRD continues to play a major role in North Macedonia’s economic development. To date, it has invested more than €3 billion in over 200 projects across the country. This latest loan under the WB GOLD framework further reinforces the Bank’s long-term commitment to supporting sustainable growth and private-sector development in the region.

Iberdrola Hits Major Milestone With 11,000 MW Of Power Capacity In The United States, Now Able To Supply Over Seven Million People

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20th March 2026

Iberdrola has announced that it has reached 11,000 megawatts (MW) of installed power generation capacity in the United States. This achievement comes through its subsidiary Avangrid, which operates nearly 100 energy facilities across 25 states. Reaching this level of capacity reflects the company’s long-term commitment to investing in the United States and helping strengthen the country’s power supply. Iberdrola’s focus is on providing energy that is secure, locally generated, and sustainable, while also supporting the economic development of the communities where it operates.

The company’s installed capacity in the U.S. is now greater than the total generation capacity of nine of the 27 European Union Member States. It is enough to supply electricity for more than seven million people in the country each year. Iberdrola’s growth has continued in recent months with the commissioning of five new renewable energy facilities totaling 850 MW.

These include the 321 MW True North solar project in Texas, the 57 MW Camino Solar project in California, the Daybreak Solar and Bakeoven Solar projects in Oregon with a combined 269 MW, and the 202 MW Powell Creek project in Ohio. These additions expand the company’s footprint and contribute more clean energy to the national grid.

The timing of these new projects is important as electricity demand in the U.S. continues to rise quickly. Much of this growth is driven by homes, manufacturing, and data centers, all of which require increasing amounts of reliable power. Iberdrola is preparing for this demand by developing a strong pipeline of future projects that will further increase capacity and support a secure, resilient, and sustainable energy system. The United States, along with the United Kingdom, remains one of Iberdrola’s primary investment regions. The company plans to invest €16 billion in the U.S. between 2025 and 2028.

Of this amount, €12 billion will go toward improving and expanding transmission and distribution networks, while €4 billion will be directed toward adding new renewable generation capacity. Through Avangrid, Iberdrola is one of the major energy companies in the country. It operates in 25 states, manages assets worth more than €50 billion, and supplies power to nearly eight million people. The company employs around 8,500 professionals and supports approximately 70,000 additional jobs through its wider supply chain, contributing significantly to local and national economic growth.

102 GWh Tender Boom Powers India’s Energy Storage Growth to 346 GWh by 2033

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Sangita Shetty

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20th March 2026

India’s energy storage sector is entering a decisive growth phase, with policymakers and industry leaders positioning it as a critical enabler of the country’s rapidly expanding solar capacity. At the Stationary Energy Storage India (SESI) 2026 conference, held alongside the Bharat Electricity Summit 2026 in New Delhi, stakeholders highlighted how storage is becoming indispensable to achieving reliable, round-the-clock renewable power.

The discussions strongly underscored the growing importance of large-scale energy storage in enabling renewable energy integration, particularly for solar. S. C. Saxena, Chairman and Managing Director of GRID India, noted that India’s grid is already experiencing demand swings of up to 90 GW, making flexibility solutions like storage indispensable. With solar generation inherently variable, the role of Battery Energy Storage Systems (BESS) and pumped hydro is becoming critical to ensure round-the-clock power and grid stability. Falling technology costs and supportive policies are further accelerating deployment.

This momentum is reflected in rising project activity. Over the past year, 69 new BESS tenders totaling 102 GWh have been issued—a 35% increase over 2024 and nearly double the annual tender volume. The surge signals strong investor confidence and an urgent push to align storage deployment with India’s solar expansion.

At the same time, pumped hydro energy storage is emerging as a long-duration backbone for the system. Installed capacity is projected to grow sharply from 7 GW in 2025 to 107 GW by 2033, supporting peak demand management and renewable balancing at scale.

As India accelerates toward its clean energy targets, the integration of storage technologies is set to define the next phase of solar growth. With supportive policies, declining costs, and a robust project pipeline, energy storage is poised to transform the country’s renewable landscape into a more flexible, resilient, and reliable power system.

Welspun Renewable And NLC India Renewables Win GUVNL 625 MW Solar Auction At ₹2.34/kWh

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20th March 2026

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alternative energy building clouds energy — Representational image. Credit: Canva

Gujarat Urja Vikas Nigam Limited (GUVNL) has successfully completed an auction for 625 MW of grid-connected solar photovoltaic (PV) projects under Phase XXVIII. The auction attracted strong interest from the renewable energy sector, with 23 companies participating in the tariff-based bidding process.

The auction discovered a competitive tariff range between ₹2.34 and ₹2.60 per kWh, reflecting continued cost efficiency and growing maturity in India’s solar market. The lowest tariff of ₹2.34 per unit was quoted by multiple developers. Among them, Welspun Renewable Energy and NLC India Renewables emerged as key winners, each securing 300 MW capacity at this rate.

Other developers who also matched the lowest tariff include Megodyna Renewables Energy, Krishna Choprindia, and Sunsure Green Energy, though their quoted capacities were smaller. This indicates intense competition among bidders aiming to secure capacity at the most competitive price levels.

A few developers submitted slightly higher bids. Terra Ocean quoted ₹2.35 per unit for 300 MW capacity. Soleos Energy and Heliac Power India offered tariffs of ₹2.45 per unit, while Sajju Industries placed a bid at ₹2.47 per unit. These bids remained close to the lowest discovered tariff, highlighting a tight bidding environment.

At the higher end, MB Power (Madhya Pradesh) and KPI Green Energy quoted ₹2.50 per unit for significant capacities. Other participants, such as Spring Energy, SAEL Industries, and PNC Infratech, submitted bids ranging from ₹2.54 to ₹2.58 per unit. The highest tariff in the auction was ₹2.60 per unit, quoted by Waaree Forever Energies for 600 MW capacity.

GUVNL had issued the Request for Selection (RfS) for this tender in November 2025. The projects are planned without energy storage components. The tender also includes a Greenshoe option, allowing GUVNL to procure an additional 625 MW capacity. This means the total capacity could potentially increase to 1,250 MW, depending on future decisions.

Overall, the auction reflects strong investor confidence and sustained momentum in India’s solar power sector, driven by competitive pricing and large-scale participation.

SJVN Achieves 1 Billion Units Milestone At 1,000 MW Bikaner Solar Project

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20th March 2026

alternative alternative energy close up electricity — Representational image. Credit: Canva

SJVN Limited has announced that its 1,000 MW Bikaner Solar Power Project has successfully achieved a major milestone by generating 1 billion units (BU) of electricity as of March 20, 2026. This achievement reflects the company’s growing contribution to clean and sustainable energy supply in India.

The project is located in the Bikaner district of Rajasthan and is being managed by SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN. The solar project was developed under the Central Public Sector Undertaking (CPSU) Scheme Phase II, Tranche III of the Ministry of New and Renewable Energy.

The foundation stone of this large-scale solar project was laid on January 3, 2023, by Droupadi Murmu in Jaipur. After completing construction, the project achieved its Commercial Operation Date (COD) on December 24, 2025, marking the beginning of its full-scale operations.

The 1,000 MW solar plant has been designed to deliver high-capacity power generation along with long-term environmental benefits. In its first year of operation, the project is expected to generate around 2,454.55 million units (MU) of electricity. Over a period of 25 years, the total power generation is projected to reach approximately 56 billion units.

Apart from electricity generation, the project will play an important role in reducing environmental impact. It is estimated to help cut carbon emissions by nearly 2.78 million tonnes during its operational life, supporting India’s climate goals and transition toward cleaner energy sources.

The project also offers affordable green energy, with a tariff fixed at ₹2.57 per unit. The electricity generated from this plant will be supplied to states including Rajasthan, Jammu and Kashmir, and Uttarakhand, helping them meet their growing energy needs through renewable sources.

According to SJVN’s leadership, this milestone highlights the company’s strong technical capabilities and efficient execution. The management noted that such large-scale renewable projects are essential to achieve the Government of India’s target of 500 GW of non-fossil fuel capacity. As a Navratna CPSE, SJVN continues to strengthen its role in ensuring energy security while promoting sustainable development across the country.

NTPC Partners With Octopus Energy To Boost Clean Energy And Digital Power Solutions

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20th March 2026

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NTPC Limited, India’s largest integrated power utility, has entered into a strategic partnership with Octopus Energy Group, a clean energy and digital platform provider based in the United Kingdom. The two companies signed a Memorandum of Understanding (MoU) on March 19, 2026, to explore opportunities in clean energy and digital utility solutions.

The agreement was signed during the Bharat Electricity Summit 2026 held in New Delhi under the guidance of the Ministry of Power. The signing ceremony took place in the presence of senior officials, including Pankaj Agarwal, Secretary of the Ministry of Power, and Gurdeep Singh, Chairman and Managing Director of NTPC Limited. The MoU was signed by Dr. Jatinder Singh Chandok from NTPC and Chris Fitzgerald from Octopus Energy.

The MoU provides a non-binding framework for cooperation between the two companies. It focuses on several key areas in the power and energy sector. One of the main areas is electricity distribution and retail, where both companies aim to improve how power is supplied and managed for consumers. Another important focus is renewable energy and energy storage, which will support the development of clean power and better storage solutions.

The partnership also includes plans to work on electric vehicle infrastructure by supporting the development of charging networks. In addition, both companies will explore digital energy platforms to improve efficiency and provide better services to customers. Innovation, research, and development will also play a major role, as the companies aim to develop new technologies for the energy sector. Capacity building is another area of focus, with efforts to enhance skills and capabilities within the industry.

This collaboration is expected to cover projects in India, the United Kingdom, and other regions as agreed by both companies. By combining NTPC’s experience in large-scale power generation with Octopus Energy’s strength in digital and clean energy solutions, the partnership aims to improve the efficiency, reliability, and affordability of energy services. The move also supports the global transition toward cleaner energy and modern power systems.

APAR Industries Boosts US Presence And Invests In Hybrid Renewable Energy Project In Rajkot

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20th March 2026

The Board of Directors of APAR Industries Limited approved two major strategic investments aimed at expanding the company’s international presence and supporting renewable energy development in India. The decisions mark a significant step in APAR’s efforts to strengthen its global operations while advancing sustainable energy initiatives at home.

The first key decision involves a capital infusion of up to USD 5 million into APAR USA LLC, the company’s wholly-owned subsidiary based in Delaware. Previously known as CEMA Wires & Cables LLC, APAR USA specializes in conductors and cables. Despite the subsidiary reporting no turnover for the last three fiscal years, APAR Industries has decided to provide the funds to support its ongoing business requirements. The investment may be made in a single installment or through multiple tranches during the 2025-26 or 2026-27 financial years. Following the cash injection, APAR Industries will continue to hold a 100 percent ownership stake in its American subsidiary. This move highlights the company’s commitment to consolidating its industrial footprint in the United States, positioning APAR USA for future growth and potential operational scaling.

At the same time, the Board approved a Shareholders’ Agreement and an Energy Supply Agreement to establish a hybrid power generation facility combining wind and solar energy in Rajkot, Gujarat. This project will be executed through Clean Max Rudra Private Limited, a Special Purpose Vehicle and an associate company of APAR. The facility is planned to have a total capacity of 9.90 MVA from wind turbines and 7.34 MWp from solar panels, reflecting a balanced approach to renewable energy generation.

To support this green energy initiative, APAR Industries will invest approximately Rs. 10.76 crores to acquire fresh equity shares in the SPV, retaining a 26 percent stake. This follows an earlier investment of Rs. 11.38 crores in the same project. The remaining 74 percent of the SPV is held by the promoter shareholder, Clean Max Enviro Energy Solutions Private Limited. APAR will have anti-dilution rights and voting rights in proportion to its shareholding, although the operational control of the project will remain with the generator.

These carefully structured transactions, conducted at arm’s length, reflect APAR Industries’ dual strategy of reinforcing its core industrial operations abroad while securing sustainable and reliable energy sources for its Indian operations. By focusing simultaneously on international expansion and domestic green energy investment, APAR is positioning itself for long-term growth and environmental sustainability, aligning its business objectives with global energy transition trends.

The company’s proactive approach demonstrates its commitment to both industrial growth and clean energy adoption, supporting its vision of combining profitability with responsible corporate practices.

India’s Power Roadmap 2035: Clean Energy Push With Strong Focus On Reliability And Storage – CEA

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20th March 2026

India’s power sector is moving into a major transformation phase as the country prepares for a cleaner and more reliable energy future. The Central Electricity Authority (CEA) has released its National Generation Adequacy Plan for the period 2026-27 to 2035-36, outlining how India will meet its fast-growing electricity demand while progressing toward its net-zero emissions target by 2070.

According to the plan, electricity demand in India has been rising quickly over the past few years. Peak demand has grown at an annual rate of more than 7%, reaching around 250 GW by early 2025. This growth is expected to continue as the economy expands, industries grow, and electrification increases across sectors. By 2035-36, peak demand is projected to almost double and reach 459 GW, while total energy requirements are also expected to rise sharply.

To meet this rising demand, India is planning a large-scale expansion of its power generation capacity. The total installed capacity is expected to reach about 1,121 GW by 2035-36. A key highlight of this plan is the strong focus on clean energy. Non-fossil fuel sources such as solar and wind are expected to contribute nearly 70% of the total capacity, which is around 786 GW. This marks a significant increase from about 52% in early 2026. Solar power is expected to play the biggest role, with a projected capacity of 509 GW, making it the leading source of electricity generation in the coming decade.

At the same time, the plan recognizes the challenges associated with renewable energy, especially its variable nature. Since solar and wind power depend on weather conditions, they cannot always provide a steady supply of electricity. To address this, the plan highlights the need for a stable or “firm” power source. Coal will continue to play an important role in this regard. Although its share in the overall energy mix is expected to decline from 64% to 49% by 2035, it will remain the largest single source of power generation and support grid stability during periods of low renewable output.

Nuclear energy is also expected to grow significantly in the long term, with a vision to reach 100 GW capacity by 2047. This will further strengthen the base of clean and reliable power in the country.

Another important part of the plan is the development of energy storage systems. The report estimates that India will need around 174 GW of energy storage capacity by 2035-36. This includes both Battery Energy Storage Systems (BESS) and Pumped Storage Plants (PSP). These technologies will help store excess electricity generated during the day, especially from solar power, and supply it during peak demand hours or when renewable generation is low.

The plan also focuses on maintaining reliability in the power system. It uses advanced planning tools like STELLAR to ensure a reserve margin of 13-14%, which acts as a buffer against unexpected demand spikes or supply disruptions. While there are challenges such as dependence on imported materials for batteries, falling costs of storage technologies are making a clean and round-the-clock power supply more achievable.

Overall, the roadmap presents a balanced approach, combining clean energy growth with system reliability and cost efficiency, as India prepares to meet its future power needs in a sustainable manner.

CEA Clarifies Mandatory Third-Party Oversight For In-House Type Testing Of Electrical Equipment

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20th March 2026