ABREN lands BlackRock backing: BlackRock’s Global Infrastructure Partners (GIP) has finalized an investment of up to INR 30 billion in Aditya Birla Renewables Limited (ABREN). This comprises a commitment of up to INR 20 billion, with a greenshoe option for another INR 10 billion in investment. ABREN says this investment translates into an enterprise value of INR 146 billion. A subsidiary of Grasim, ABREN’s renewable energy portfolio currently stands at around 4.3 GW across 10 states, comprising solar, hybrid, floating solar, and round-the-clock (RTC) renewable power. “GIP’s investment marks a pivotal moment in our growth journey, laying a strong foundation for an accelerated buildout of our renewables platform, as we target a capacity of 10 GW+ in the coming years,” said Aditya Birla Group Chairman Kumar Mangalam Birla. The transaction is subject to necessary statutory and regulatory approvals and completion of other conditions.
ALMM List-II expands: The Indian Ministry of New and Renewable Energy (MNRE) has expanded the Approved List of Models and Manufacturers (ALMM) List-II for solar cells with the addition of Waaree Energies Limited. It has added 1.328 GW of monocrystalline PERC (p-type) bifacial solar cell capacity and 3.923 GW of monocrystalline TOPCon (n-type) bifacial solar cells, with respective average cell efficiencies of up to 23.55% and 25.54%. It will remain valid till December 14, 2029. With this 3rd revision of the ALMM List-II, the total enlisted solar cell capacity now exceeds 23.73 GW. In November 2025, MNRE added 602 MW of monocrystalline PERC bifacial solar cell capacity from Websol Energy System Limited to the list (see India Solar PV News Snippets).
Indian Railways expanding solar use: The Indian Ministry of Railways recently shared progress of its solar energy initiatives. At present, 2,626 railway stations across the country are using solar power, with another 318 added in the current financial year. As of November 2025, Indian Railways has commissioned 898 MW of solar power for its operations, nearly 244 times the 3.68 MW reported in 2014. Of the total commissioned capacity, 629 MW is being utilized for traction purposes to support electric train operations, while the remaining 269 MW meets non-traction needs such as station lighting, workshops, service buildings, and railway quarters. Together, these measures improve energy security, reduce reliance on conventional power, and support Indian Railways’ goal of net zero emissions by 2030, added the ministry.
Slow Solar Progress at PSUs: The Comptroller and Auditor General (CAG) of India has highlighted slow progress in solar adoption by state-owned companies in its report for the year ending March 2025. Coal India Limited (CIL) and its subsidiaries have installed only 4.08% of their 3 GW solar target, prompting CAG to recommend faster project implementation. The report also flags weak performance at Bharat Heavy Electricals Limited (BHEL), where solar capacity additions have been minimal and manufacturing facilities use outdated technology. Poor raw material availability has led to low utilization of its cell (85 MW) and module (200 MW) manufacturing capacity. CAG has advised BHEL to upgrade or set up new facilities with modern technology to improve utilization.
PPA for 150 MW solar project: ReNew Energy Global Plc has entered into a long-term agreement with Google as the offtaker to develop a new 150 MW solar PV project in Rajasthan. While this long-term contract supports the bankability of the project, Google will procure the project’s energy attributes, contributing to its target to reduce value chain emissions. The facility will generate close to 425,000 MWh of clean electricity annually when it comes online in 2026. ReNew says this agreement expands its committed commercial and industrial (C&I) portfolio to 2.7 GW.
JV for 2 GW green energy: NLC India subsidiary NLC India Renewables Limited (NIRL) has signed a joint venture agreement with PTC India Limited to develop up to 2 GW green energy capacity in phases. The initial phase will target the completion of around 500 MW. Both companies say they will pool their strengths in project development, power trading, renewable energy park creation, and integrated green energy solutions.
Supply agreement for RenewSys: RenewSys India has secured a new supply agreement for 300 MW of its high-performance encapsulants to support ICON Solaren Power Technologies’ large-scale module production. Under the agreement, RenewSys will supply ICON Solaren with its latest-generation POE encapsulants to be delivered between January 2026 and April 2026.
Soleos raises $12 million: Indian solar EPC company Soleos Energy Pvt. Ltd. has raised $12 million in a funding round, led by GVFL, which has invested $2.5 million into the company. Other investors in this round include Tipsons Group, Navin Dalmia, and select family offices and several of the company’s existing investors. Soleos plans to use the proceeds to expand its development pipeline across select geographies, fund project construction in India and select global markets, strengthen investors’ governance frameworks, expand group-captive and consumer-led energy models, and build integrated solar-plus-storage capability. The funds raised will also back Soleos’ new in-house battery energy storage manufacturing.