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Karnataka High Court Quashes KERC’s Captive Status Verification Procedure


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					</table><p>Colombia’s electricity market and grid operator, <a href="https://www.xm.com.co/" target="_blank" rel="noopener">XM</a>, has awarded 1,546.9 MW of solar and 246 MW of wind capacity under the Energy and Gas Regulatory Commission’s (<a href="https://creg.gov.co/" target="_blank" rel="noopener">CREG</a>) fifth Firm Energy Obligations (OEF) auction.</p>
<p>The awarded renewable energy capacity across 29 solar and two wind projects totaled 1,792 MW, accounting for 45%of all the awarded capacity of 4,069.7 MW, which also included hydroelectric and thermal power.</p>
<p>The market operator selected 77 of the 85 projects participating in the auction.</p>
<p>The auction allocated 143.01 GWh/day of firm energy obligations. Solar accounted for 11.06 GWh/day, or 7.7% of the total, while wind accounted for 76,358 kWh/day, or 0.1%.</p>
<p>CREG set two auction closing prices based on the variable costs of the participating projects. Projects with higher variable costs had a closing price of $16.4/MWh and $22/MWh for projects with lower variable costs.</p>
<p>XM will issue the OEF certificates to these projects on September 14, 2026.</p>
<p>Colombia is implementing a long-term electricity auction program offering 15-year pay-as-bid contracts from 2030 to reduce price volatility risks. It also hopes to ensure that power retailers meet the legal obligation that 10% of their electricity purchases come from non-conventional renewables.</p>
<p>While the contracts are scheduled to start from January 1, 2030, winning bidders can begin production earlier and extend the term of the power purchase agreements.</p>
<p>This April, Atlas Renewable Energy, a solar and wind project developer, <a href="https://www.mercomindia.com/atlas-renewable-energy-secures-121-million-for-solar-project" target="_blank" rel="noopener">secured</a> COP453.95 billion (~$121 million) in financing for the 99.9 MW El Campano solar project in Córdoba, Colombia, achieving financial close and enabling construction.</p>
<p>In February, Scatec, a renewable energy solutions provider, <a href="https://www.mercomindia.com/scatec-reaches-financial-close-for-130-mw-solar-project" target="_blank" rel="noopener">secured</a> financing for the 130 MW Barzalosa solar project in Colombia.</p>
<p>In 2022, the International Finance Corporation <a href="https://pressroom.ifc.org/All/Pages/PressDetail.aspx?ID=26957" target="_blank" rel="noopener">announced</a> an investment of $10 million in the form of preferred equity in Vatia, a Colombian electricity retailer and aggregator, to help improve access to cleaner energy.</p>


Colombia Awards 1.8 GW of Renewable Energy Projects in 5th Auction


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					</table><p>Integrated power company <a href="https://www.tatapower.com/" target="_blank" rel="noopener">Tata Power</a> reported a revenue of ₹159.62 billion (~$1.67 billion) in the fourth quarter (Q4) of the financial year (FY) 2026, a 7.9% year-over-year (YoY) decrease from ₹173.28 billion (~$2 billion).</p>
<p>Solar engineering, procurement, and construction (EPC) revenue fell to ₹22.08 billion (~$231 million) during the quarter from ₹31.1 billion (~$325.18 million) last year, mainly due to a decline in income from large and group captive projects, which fell to ₹4.8 billion (~$50.2 million) from ₹22.46 billion (~$234.84 million).</p>
<p>Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹42.16 billion (~$441 million), up 10.1% YoY from ₹38.29 billion (~$400.35 million).</p>
<p>Profit after tax (PAT), after exceptional items, came in at ₹14.16 billion (~$148.05 million), up 8.4% YoY from ₹13.06 billion (~$136.55 million).</p>
<p>Tata Power attributed its performance to higher contributions from Odisha distribution companies (DISCOMs) and its rooftop solar and solar manufacturing businesses.</p>
<p>Praveer Sinha, CEO and Managing Director at Tata Power, said,<strong> </strong>“This quarter and year reflect our sustained focus on creating long-term value through disciplined growth, operational excellence, and strategic partnerships. The addition of new clean energy assets, steady progress in TBCB projects, continued improvement in distribution businesses in Odisha, Delhi, and Mumbai, and strengthening of cross-border regional energy collaboration, underscore our commitment to building a more resilient energy future.”</p>
<p>Tata Power <a href="https://www.mercomindia.com/tata-power-reports-flat-q3-profit-despite-strong-renewables-performance" target="_blank" rel="noopener">posted</a> a profit of ₹11.94 billion (~$132.01 million) in Q3 FY 2026, up from ₹11.88 billion (~$131.3 million) in the same quarter of the previous year.</p>
<p><strong>Full Year FY 2026</strong></p>
<p>Tata Power reported a revenue of ₹636.81 billion (~$6.66 billion) in FY 2026, a 1.3% YoY decrease from ₹645.02 billion (~$6.74 billion).</p>
<p>EBITDA stood at ₹160.9 billion (~$1.7 billion), up 11.2% YoY from ₹144.68 billion (~$1.51 billion).</p>
<p>PAT came in at ₹51.18 billion (~$535.13 million), up 7.2% YoY from ₹47.75 billion (~$499.27 million).</p>
<p><strong>Business Update</strong></p>
<p>Tata Power has approximately 26.3 GW of total power capacity, including operational and under-construction capacity. Of this, roughly 17.5 GW is green or clean energy.</p>
<p>It commissioned 1.3 GW of renewable energy projects during Q4, including rooftop solar projects. The company commissioned 406 MW of utility-scale renewable energy capacity in-house, increasing the total installed capacity to 6.5 GW.</p>
<p>Tata Power Solar was among the <a href="https://www.mercomindia.com/tata-power-roofsol-mahindra-lead-indias-rooftop-solar-market-in-2025" target="_blank" rel="noopener">top</a> rooftop solar installers in India in 2025, according to Mercom’s  India Solar Market Leaderboard 2026.</p>
<p>The company produced 964 MW of solar cells and 915 MW of modules during the quarter, with a claimed plant yield of over 95%. The solar manufacturing plant’s revenue in Q4 rose 25% YoY to ₹18.79 billion (~$196.46 million). Its EBITDA and PAT grew by 24% to ₹5.01 billion (~$52.38 million) and by 40% to ₹2.65 billion (~$27.71 million), respectively.</p>
<p>Tata Power’s rooftop business achieved a record billing of 670 MWp in Q4 and 1.7 GWp in FY 2026. The rooftop solar order book during the quarter stood at ₹8.98 billion (~$94 million), with 697 channel partners and more than 3,000 retailers.</p>
<p>The company achieved a cumulative 10 GW of EPC execution.</p>
<p>It commissioned the SEUPPTCL transmission line of 1,521 circuit km (ckm), with 732 ckm added in Q4. Tata Power’s other transmission work includes projects in Bikaner, Paradeep, Gopalpur, and Jejuri-Hinjewadi in Rajasthan, Odisha, and Maharashtra. These transmission projects are scheduled to be commissioned between FY 2027 and FY 2028.</p>
<p>The company’s clean energy pipeline in Bhutan, under its memorandum of understanding with local hydropower company Druk Green Power, includes a capacity of 5.5 GW across hydroelectricity, pumped storage, and solar projects.</p>
<p>Tata Power has commenced construction of the 1,000 MW Bhivpuri pumped storage project (PSP) in Maharashtra, with completion expected by the end of the calendar year 2028. It has begun preliminary activities to set up the 1,800 MW Shirwata PSP in the same state. This project is expected to be completed by the end of the calendar year 2029.</p>
<p>Further, Tata Power installed over 7,000 public and bus charging points.</p>


Tata Power’s Q4 FY 2026 Revenue Falls 8% on Lower EPC Revenue


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					</table><p>The French government has launched its 3<sup>rd</sup> Multi-Year Energy Program (PPE3) to increase production of decarbonized, sovereign, and competitively priced energy in the country. The program introduces energy policy directions for the coming decade and charts the path towards France’s carbon neutrality by 2050.</p>
<p>The program was issued for consultation with stakeholders before finalization. It involved consultations from 50,000 participants, included 7,500 proposals, and was approved after garnering over one million votes.</p>
<p>The PPE3 aims to increase decarbonized energy generation from 544 TWh in 2025 to between 650 TWh and 693 TWh by 2035. It also aims to reduce fossil fuel consumption to approximately 330 TWh in 2035, down from 900 TWh recorded in 2023.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Frances-Energy-Transition-Roadmap-2025-2035-Targets.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-90807 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Frances-Energy-Transition-Roadmap-2025-2035-Targets.png" alt="France’s Energy Transition Roadmap (2025-2035 Targets)" width="894" height="367" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Frances-Energy-Transition-Roadmap-2025-2035-Targets.png 894w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Frances-Energy-Transition-Roadmap-2025-2035-Targets-300x123.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Frances-Energy-Transition-Roadmap-2025-2035-Targets-768x315.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Frances-Energy-Transition-Roadmap-2025-2035-Targets-650x267.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Frances-Energy-Transition-Roadmap-2025-2035-Targets-624x256.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2026/02/Frances-Energy-Transition-Roadmap-2025-2035-Targets-600x246.png 600w" sizes="auto, (max-width: 894px) 100vw, 894px" /></a></p>
<p>The program aims to enable 60% decarbonized energy in its power consumption mix by 2030, and 70% by 2035. PPE3 covers diversified energy production from multiple sources, including nuclear, hydroelectric, onshore and offshore wind, and solar.</p>
<p>Its aims also include the electrification of operations powered by fossil fuels and the development of low-carbon substitutes for them. These substitutes will include district heating networks, biomethane, biofuels, and hydrogen.</p>
<p>PPE3 will include, for the first time, a 2027 review clause. Under this clause, the government will assess if energy demand is developing as expected and adjust targets if needed.</p>
<p><strong>Energy Target Criteria</strong></p>
<p>The government set production levels for each energy source based on four criteria: cost control, production availability, public acceptance, and energy sovereignty.</p>
<p><strong>Renewable Energy Reformation</strong></p>
<p>PPE3 set a development plan for continuous solar power generation, targeting 48 GW of capacity by 2030 and 55 GW to 80 GW by 2035, up from approximately 30 GW in 2025.</p>
<p>The program aims to accelerate offshore wind capacity, taking into account the sector’s industrial realities and infrastructure and grid needs. It has set a target of achieving 15 GW of installed offshore wind capacity by 2035.</p>
<p>For onshore wind power, the government will prioritize renewing existing wind farms to increase their capacity, targeting 31 GW in 2030 and 35 GW to 40 GW by 2035, up from roughly 24 GW in 2025.</p>
<p>PPE3 aims to increase France’s dam-based hydroelectric capacity to 2.8 GW, primarily through the optimization and reinforcement of existing facilities, including 1.7 GW of pumped-storage hydroelectric power.</p>
<p><strong>Decarbonized Energy Solutions</strong></p>
<p>For sectors that cannot easily switch to electricity, the PPE3 program promotes the use of decarbonized fuel sources such as biomethane, hydrogen, renewable heat and cooling, and biofuels.</p>
<p>Under the program, the French government plans to increase the country’s renewable and recovered heat to between 328 TWh and 421 TWh by 2035. It aims to increase the biomethane capacity to between 47 TWh and 82 TWh during this period, biofuel capacity to between 70 TWh and 90 TWh, and hydrogen capacity to 8 GW.</p>
<p><strong>Competitive Tenders</strong></p>
<p>Through the program, the government aims to achieve greater financial control over the energy transition by supporting power projects primarily through competitive tenders and by adjusting support programs to avoid excessive profits.</p>
<p>This initiative is expected to halve budgetary spending on renewable energy by 2040 and eliminate it completely by 2055. The trajectory will be affected by developments in electricity prices.</p>
<p><strong>Addressing Power Fluctuations</strong></p>
<p>The government aims to reform the management of renewable energy in 2026 to limit power fluctuations during negative price periods.</p>
<p>To this end, it issued two decrees in September 2025 that allow renewable power projects to continue operating even during events with slightly negative prices. Work on these initiatives will be undertaken in conjunction with France’s Energy Regulatory Commission.</p>
<p><strong>Power Capacity Mechanism</strong></p>
<p>Under PPE3, the government will reform the power capacity mechanism in 2026 to prepare the system for peak winter demands. Réseau de Transport d’Électricité, the country’s electricity transmission system operator, will revise its Ten-Year Network Development Scheme in 2026 to adapt the energy network to a warmer climate and to meet demands for electrification and the connection of power production facilities, and to strengthen high- and very-high-voltage lines.</p>
<p>The government, as part of the PPE3 implementation, will prioritize incorporating criteria favoring European industry in its tenders.</p>
<p>Last December, France’s Ministry of Energy Transition <a href="https://www.mercomindia.com/france-awards-507-mw-of-solar-projects-in-fourth-renewables-auction" target="_blank" rel="noopener">awarded</a> a combined capacity of 507.7 MW across 36 solar projects under the fourth round of its technology-neutral renewables tender. The tender was floated for a total capacity of 500 MW.</p>
<p>Europe’s solar power purchase agreement prices in the fourth quarter of 2025 <a href="https://www.mercomindia.com/solar-ppa-prices-rise-9-yoy-in-north-america-while-europe-falls-8" target="_blank" rel="noopener">declined</a> for the third consecutive quarter, with the market-averaged P25 solar price at €57.44 (~$68.06)/MWh, down roughly 8% year-over-year. Wind prices also softened, with P25 wind PPAs at €85.96 (~$101.85)/MWh, falling about 3% quarter-over-quarter.</p>


France Launches PPE3 Program to Accelerate Energy Transition


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					</table><p>The <a href="https://powermin.gov.in/" target="_blank" rel="noopener">Ministry of Power</a> will set up 13 hydroelectric projects in Arunachal Pradesh with a cumulative capacity of 13,000 MW in a bid to augment hydroelectric power capacity in the country.</p>
<p>Emphasizing the importance of hydroelectric projects in achieving energy transition, Union Minister of Power and New &amp; Renewable Energy R K Singh said while India has solar and wind capacity, round-the-clock renewable energy is not possible without hydroelectricity.</p>
<p>After reviewing the progress of the 2,000 MW Lower Subansiri hydroelectric project in Arunachal Pradesh, he said the 13 projects will involve an investment of ₹1.4 trillion (~ $1.68 billion).</p>
<p>Construction is also under way for five hydroelectric projects in Jammu &amp; Kashmir, he added.</p>
<p>“Today, our hydropower capacity is 47,000 MW, which is 35% of our available hydropower potential. Developed countries, however, have utilized around 70% &#8211; 80% of their available hydropower potential,” the Minister said.</p>
<p>Singh said that India had added power capacity of 190,000 MW in the last nine and a half years. “Our under-construction capacity in renewables is around 70,000 MW, while in thermal, it is 27,000 MW.” This momentum aligns with India’s target of meeting the projected power demand by 2030.</p>
<p>The Subansiri Lower Hydroelectric Project in Arunachal Pradesh and Assam has achieved dam construction up to an elevation of 210 meters. Progressing over 90%, including key components like the dam and power house, the project is scheduled  to commence electricity generation in FY 2023-24.</p>
<p>At the end of the third quarter in FY 2023-2024, India&#8217;s cumulative installed renewable energy capacity, including substantial hydropower projects, has reached 177.1 GW, accounting for 41.8% of the country&#8217;s total power capacity, according to data from the Central Electricity Authority (<a href="https://cea.nic.in/?lang=en" target="_blank" rel="noopener">CEA</a>), Ministry of New and Renewable Energy (<a href="https://mnre.gov.in/" target="_blank" rel="noopener">MNRE</a>), and <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">Mercom’s India Solar Project Tracker</a>.</p>
<p>India has been <a href="https://www.mercomindia.com/dry-august-sparks-demand-across-india" target="_blank" rel="noopener">facing</a> unprecedented power demand, reaching 240 GW on September 1. Coal dominated the energy mix at 70%, hydroelectricity at 14%, and renewables at 9%.</p>


Round-the-Clock Renewables Impossible Without Hydropower: R K Singh


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					</table><p><a href="https://www.sterlitepower.com/" target="_blank" rel="noopener">Sterlite Power</a>, a power transmission infrastructure developer, has achieved financial closure for its Kishtwar transmission project in Jammu and Kashmir (J&amp;K), by securing debt funding of ₹3.05 billion (~$37.38 million) from a non-banking infrastructure finance company, Aseem Infrastructure Finance (<a href="https://aseeminfra.in/" target="_blank" rel="noopener">AIFL</a>).</p>
<p>Sterlite Power recently acquired the Kishtwar transmission project in December 2022 to execute the inter-state transmission system project.</p>
<p>“We are proud to play a role in providing reliable power and building a secure energy future for J&amp;K. This will be our second project in the region after delivering the mega NRSS Kashmir project ahead of schedule,” Akshay Hiranandani, Executive Director- Corporate Finance, Sterlite Power said.</p>
<p>The project involves the construction of a transmission system comprising a 400/132 kV gas-insulated substation at Kishtwar district in J&amp;K and a 400 kV transmission line from Kishenpur village in Samba district to the Dulhasti power project.</p>
<p>The transmission system will aid the evacuation of 1 GW of power from the Pakaldul Hydroelectric project to the Kishtwar substation.</p>
<p>Apart from bringing additional power flow, it will also help decongest the downstream networks in the region, improving the quality and reliability of power flow in Kashmir valley, the company said.</p>
<p>CEO of AIFL, Virender Pankaj said, “Aseem Infra is glad to have supported Sterlite Power by providing long-term debt financing for the Kishtwar project which would contribute immensely to the infrastructure growth story of J&amp;K.”</p>
<p>Sterlite Power currently has a portfolio of 30 completed and under-construction projects covering approximately 14,602 circuit km of transmission lines across India and Brazil. The portfolio includes high-performance power conductors, extra-high voltage cables, and optical ground wires.</p>
<p>In March 2022, the power transmission company <a href="https://mercomindia.com/tata-cleantech-loans-sterlite-transmission-project/" target="_blank" rel="noopener">announced</a> the financial closure of its Nangalbibra-Bongaigaon Transmission Project with debt funding of ₹4.4 billion (~$53.9 million) from Tata Cleantech Capital.</p>
<p>In September, the company’s Mumbai Urja Marg Transmission <a href="https://mercomindia.com/sterlite-commissions-400-kv-transmission-line-evacuate-renewables/" target="_blank" rel="noopener">commissioned</a> a 400 kV transmission line in the Banaskantha, Kansari, and Vadavi regions of Gujarat.</p>


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