Power

Smarten Power System, a manufacturer of solar and power backup solutions, is set to launch its Rs. 50 crore initial public offering (IPO) from July 7 to July 9, 2025. Priced at Rs. 100 per equity share, the offering comprises a fresh issue of Rs. 40.01 crore and an offer for sale worth Rs. 10 crore. The company aims to strengthen its production capacity, reduce debt, and fund operational and capital expenses. With plans to list on NSE Emerge, Smarten seeks to build on its momentum, leveraging India’s clean energy push and growing demand for energy storage systems.

Bengaluru-based solar technology manufacturer Emmvee Photovoltaic Power Ltd has filed draft papers with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO) worth Rs. 3,000 crore. The offering comprises a fresh issue of shares totaling Rs. 2,143.86 crore and an offer for sale (OFS) of Rs. 856.14 crore by the company's promoters. Proceeds will primarily be used to reduce outstanding debt, which stood at nearly Rs. 1,950 crore as of March 2025.

Borosil Renewables Ltd has initiated insolvency proceedings for its German subsidiary, signaling a strategic withdrawal from a faltering European solar glass market dominated by low-cost Chinese imports. The decision allows the company to redirect focus and capital toward the rapidly expanding Indian solar glass sector, buoyed by strong government support, growing solar capacity, and protective trade measures such as anti-dumping duties.

Tata Group is actively exploring the acquisition of full ownership in Resurgent Power Ventures Pte, a Singapore-headquartered power generation and transmission company, as part of a broader strategy to strengthen its footprint in India’s energy sector. Tata Power, which currently holds a 26% stake, is reportedly in discussions to buy out the remaining 74% from shareholders including ICICI Venture, Kuwait Investment Authority (KIA), and Oman Investment Authority (OIA). The valuation under consideration is approximately $2.1 billion, inclusive of debt.

Rajendra Prasad Goyal, Director (Finance) at NHPC Limited, has once again assumed the additional charge of Chairman and Managing Director (CMD), effective July 1, 2025. This interim appointment follows the retirement of Raj Kumar Chaudhary, who demitted office upon reaching superannuation. Goyal, a seasoned finance executive with over 36 years of experience at NHPC, has previously served in this capacity from March to August 2024.

In a move to modernize its resource management infrastructure, the Indian government will launch a fully digital module for submitting and approving coal exploration proposals through its existing Single Window Clearance System. Scheduled for inauguration on July 4, the platform offers an integrated interface for coal block operators to seek approvals, including geological assessments and final exploration clearances.

Approximately 2.7 million power sector employees across India have announced a one-day nationwide strike on July 9, protesting the Uttar Pradesh government's decision to privatize two major electricity distribution companies (discoms) — Purvanchal Vidyut Vitran Nigam Ltd (PVVNL) and Dakshinanchal Vidyut Vitran Nigam Ltd (DVVNL).

State Bank of India (SBI), the nation’s largest lender, has unveiled a transformative plan to solarise four million households by fiscal year 2026–27 as part of its commitment to India’s clean energy ambitions. The announcement, coinciding with the bank’s 70th anniversary, aligns SBI’s long-term strategy with the country’s Net Zero 2070 objective. The bank also reported landmark agricultural lending of over Rs.

India’s industrial production growth slowed sharply to 1.2% in May 2025, marking a nine-month low, according to data released by the National Statistics Office (NSO). The slowdown reflects underperformance across key sectors including manufacturing, mining, and power generation. Manufacturing growth nearly halved to 2.6%, while mining output contracted marginally and power production declined significantly. The subdued performance contrasts starkly with May 2024, when industrial growth stood at 6.3%.

In a significant development for Bihar’s energy sector, four major private power companies—Adani Power, JSW Energy, Torrent Power, and Bajaj Group’s Lalit Power—have shown interest in establishing a 2,400 MW thermal power plant in Pirpainti, Bhagalpur. This project, marking the largest private sector investment in the state's power infrastructure, promises an investment of ₹28,000 crore. As the state government moves forward with the initiative, the plants are expected to enhance power supply, support industrial growth, and improve the quality of life for consumers.