The National Capital Region Transport Corporation (NCRTC) has signed a power purchase agreement (PPA) with NIRL NCRTC Renewables Ltd. (NNRL) for a 110 MW captive solar power plant. The project will supply electricity to the Delhi-Meerut Namo Bharat corridor. The plant is expected to meet nearly 60% of the corridor’s power requirement. NNRL will develop it, and it is expected to give NCRTC greater predictability in electricity costs. According to reports, the solar power plant is estimated to cost around INR 450 crore and is expected to be commissioned within 24 months. NCRTC will procure the electricity at a fixed tariff for 25 years. Electricity accounts for around 30% to 35% of the corridor’s operating cost. NCRTC expects the captive solar project to reduce its annual electricity expenditure by about 25%. Previously, NCRTC launched a Solar on Track pilot at the Namo Bharat Depot in Duhai (see India Solar PV News Snippets).
Sembcorp Green Infra has filed draft papers with SEBI for an IPO to raise INR 3,750 crore through a fresh issue of shares, with no offer-for-sale component. The entire issue proceeds will go to the company, which plans to use about INR 3,000 crore of the net proceeds to repay or prepay borrowings, with the balance intended for general corporate purposes. It may also raise up to INR 750 crore through a pre-initial public offering (IPO) placement, which would reduce the size of the fresh issue if completed, its draft red herring prospectus (DRHP) says. Sembcorp Green Infra is wholly owned by Singapore Exchange listed-Sembcorp Industries through Sembcorp Utilities Pte Ltd. Sembcorp Green Infra had 3.6 GW of operational renewable energy capacity as of March 2026, with another 2.61 GW of renewable capacity and 1.43 GWh of battery storage capacity under construction.
Avaada Electro, the solar PV manufacturing arm of Avaada Group, plans to raise up to INR 7,600 crore through an IPO, according to its draft abridged prospectus filed with the Securities and Exchange Board of India (SEBI). The proposed offer comprises a fresh issue of up to INR 1,600 crore and an offer for sale of up to INR 6,000 crore by promoter Avaada Ventures. The company plans to use INR 1,200 crore of the fresh issue proceeds to repay, prepay, or meet obligations related to borrowings, with the remaining proceeds earmarked for general corporate purposes. It may also undertake a pre-IPO placement of up to INR 320 crore, which would reduce the size of the fresh issue if completed. Avaada Electro currently has 8.5 GW of solar module manufacturing capacity and 3 GW of operational TOPCon cell capacity. It expects to add another 5.1 GW of module and 6 GW of cell capacity at Greater Noida, taking its annual module production capacity to 13.6 GW and cell capacity to 9 GW. In April 2026, Avaada Electro had secured SEBI approval to launch an IPO totaling INR 9,000 crore to INR 10,000 crore (see India Solar PV News Snippets).
India’s largest electricity utility, state-owned NTPC Limited, plans to accelerate renewable energy and storage as it expands its generation portfolio. In his Chairman’s Statement for FY2025-26, Chairman and Managing Director Gurdeep Singh said the company is targeting 149 GW of total power generation capacity by 2032, including 60 GW of renewable energy, including wind and solar (see NTPC Targeting 60 GW Renewables Capacity By 2032). It now aims to reach 244 GW by 2037, excluding storage. Singh stated, “This represents a significant increase over our earlier capacity plans and reflects our confidence in India’s long-term electricity demand and the role NTPC can play in meeting it.”
As of August 4, 2026, the company had more than 90 GW of operational capacity, with another 35 GW and more under construction. NTPC said its renewable generation more than doubled to 14.6 billion units in FY2026. It is developing both battery energy storage systems (BESS) and pumped storage projects and is also exploring long-duration storage technologies, including CO₂ storage and redox-flow batteries. Its strategy also includes around 30 GW of nuclear capacity, to contribute to the national target of 100 GW by 2047. The company plans to invest about INR 16.86 lakh crore through FY2037 across renewables, battery storage, pumped storage, hydro, thermal, mining, and nuclear power. It said storage would become an important part of its business as renewable penetration increases, and the power system requires greater flexibility.
The Ministry of New and Renewable Energy (MNRE) has updated the Approved List of Models and Manufacturers (ALMM) List-II for solar cells under the ninth revision. With this revision, India’s total ALMM List-II enlisted solar cell capacity has increased by 3.7 GW to now exceed 35 GW. The latest revision includes revised capacities of Waaree Energies (4.021 GW), EMMVEE Energy Private Limited (2.153 GW), and Avaada Electro (3.621 GW). Waaree’s revised capacity includes G12R monocrystalline n-type TOPCon bifacial solar cells with an average efficiency of 25.39%. It also updates the technology specifications of cells listed by TP Solar, RenewSys, Premier Energies, and Reliance Industries.
NTPC Renewable Energy Ltd (NTPC REL), a wholly owned subsidiary of NTPC Green Energy Ltd., has won 500 MW of contracted capacity in Solar Energy Corporation of India’s (SECI) 6,000 MWh assured peak power tender (FDRE-IX). The capacity was awarded at a discovered tariff of INR 6.00/kWh. The tender covers 1,500 MW of ISTS-connected renewable energy capacity with four-hour assured peak supply. The e-reverse auction was concluded on August 21, 2026.
Waaree Renewable Technologies Ltd. (WRTL) has received a Letter of Award (LOA) for EPC works for a 291 MW ground-mounted solar PV project paired with a 280 MWh BESS. The order, from an unnamed Indian thermal power generation company, is a domestic commercial contract, it stated. The project is scheduled for completion during FY2027-28.
