With India now meeting half of its power consumption through renewable energy, the industry is heading into the Union Budget 2026 with its wish list shifting from “more capacity” to building the enablers needed to sustain rapid renewable growth – grid stability, energy storage scale-up, and a stronger domestic solar supply chain. Finance Minister Nirmala Sitharaman is set to present the Union Budget 2026 on February 1, 2026, with the Economic Survey expected ahead of it.

The New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) announced the list of 19 winners in its 233.33 MW rooftop solar auction under the PM Surya Ghar: Muft Bijli Yojana. The rooftop solar systems, up to 2 kW each, will be installed for 116,663 consumers from the Scheduled Caste and Scheduled Tribes across Andhra Pradesh. The tender was issued on December 11, 2025. Sadbhav Futuretech secured 64.50 MW, the largest capacity among the winners.

Topsun Energy won Power Grid Corporation of India’s auction for providing engineering, procurement, and construction services for a 2.1 MW off-grid solar project with a 300 kW/1,200 kWh battery energy storage system at the voltage source converter-high voltage direct current (HDVC) station in Pang, Ladakh. The project has been estimated at a contract value of ₹96.3 million (~$1.05 million) at the Pang HVDC station.

The Ministry of Power released the Draft National Electricity Policy (NEP), 2026, for public consultation, aiming to align India’s power sector with the country’s long-term energy transition goals. The central vision of NEP 2026 is to ensure a reliable, affordable, and high-quality 24×7 electricity supply through a financially viable and environmentally sustainable power sector. Draft NEP 2026 has been formulated under the mandate of the Electricity Act, 2003, replacing the earlier policy notified in 2005.

Rajasthan-based smart metering solutions and services provider Genus Power Infrastructure signed a share purchase agreement to acquire the remaining 86.49% stake in Newlectric Innovation, a smart meter manufacturer. Genus already holds 13.5% of Newlectric’s equity shares, and after the acquisition, Newlectric will become a wholly owned subsidiary of Genus Power. The transaction is expected to be completed within 30 days.

Lucknow-based electric systems and solutions provider, Concord Control Systems, secured a ₹470 million (~$5.16 million) order from NTPC to supply a 3,100 HP green hydrogen hybrid locomotive, marking a global first in high-horsepower hydrogen-powered rail propulsion. The contract has been awarded to Concord’s wholly owned subsidiary, Advanced Rail Controls, and involves supplying all equipment for a retrofitted green hydrogen fuel-cell locomotive to be operated at NTPC’s Sipat facility in Chhattisgarh, with execution scheduled within 18 months.

Solar module manufacturer Vikram Solar reported a consolidated revenue from operations of ₹11.06 billion (~$121.55 million) in the third quarter (Q3) of the financial year (FY) 2026, rising 8% year-over-year (YoY) from ₹10.26 billion (~$112.76 million). The company’s earnings before interest, taxes, depreciation, and amortization rose 142% YoY to ₹2.05 billion (~$22.36 million) from ₹850 million (~$9.27 million). Vikram Solar’s profit after tax during the quarter stood at ₹980 million (~$10.7 million), a 416% increase from ₹190 million (~$2.07 million) in Q3 FY 2025.

Solar energy financing firm, Aerem Solutions, raised $15 million (~₹1.36 billion) in a pre-series B funding round led by SMBC Asia Rising Fund, the venture capital arm of Sumitomo Mitsui Banking Corporation. The funding round also saw participation from existing institutional investors, British International Investment, The University of Tokyo Edge Capital Partners, Blume Ventures, Avaana Capital, Riverwalk Holdings, and SE Ventures, the venture arm of Schneider Electric.

Africa’s solar market has entered a new phase of scale and credibility, with the Africa Solar Industry Association tracking more than 42,000 solar projects across the continent by the end of 2025, representing a total identified pipeline of 296 GW, of which 23.4 GW is already operational. While only a fraction of this pipeline is currently operational, the scale signals long-term momentum.

The U.S. Patent and Trademark Office director denied three separate inter partes review applications filed by JinkoSolar, Mundra Solar, and Canadian Solar in 2025, seeking to invalidate First Solar’s technology patents, covering methods of manufacturing TOPCon crystalline silicon solar cells. The applications filed by the three companies were declined on November 20, 2025, and December 11 and 18, 2025, respectively.