Desk note · industry · Power / renewables
Mint reported on 8 October 2026 that cancelled or re-tendered battery storage projects have reached about 24 GWh since 2018, while many new awards were bid below viable tariffs. Experts warn up to a third of awarded capacity may struggle to reach financial close.
On 8 October 2026, reporting highlighted strain in India’s battery energy storage pipeline. Battery systems hold solar and wind power for use later. The government wants them bundled into future renewable tenders. Yet the India Energy Storage Alliance counted about 24 gigawatt-hours of projects cancelled or sent back for rebidding since 2018. That is more than one-tenth of the central target of 208 GWh by 2030. NTPC terminated a Maharashtra storage contract in September after the contractor missed milestones. Other states have annulled or challenged large tenders when tariffs or technical rules shifted after bids closed.
Many developers bid very low tariffs, sometimes under ₹2 per kilowatt-hour, hoping battery prices would keep falling. Cell costs jumped after policy shifts in China during 2026. Viability gap funding awards also face stress when bidders underprice the work. Discoms and regulators want cheap storage, but banks need projects that can service debt. When contracts break, timelines slip and renewable firms must find other ways to balance the grid.
Households feel this through power reliability and industrial tariffs, not through a stock tip. If storage slips, solar and wind farms may waste more midday power or depend on costly backups. If you work in energy or infrastructure debt, watch financial closure rates on rebid tenders. Retendered projects are quoting closer to ₹2.35 per unit in some cases, which is a sign the market is repricing risk after the cancellation wave.
Trade policy / exports
Commerce minister Piyush Goyal said on 22 October 2026 that India’s proposed free-trade agreement with the European Union could become operational within four to five months after signing, with the deal expected to be inked before year-end during his visit to Germany.
Food delivery / quick commerce
Swiggy reported on 22 October 2026 that September-quarter revenue rose 36% to about ₹7,571 crore and the consolidated net loss narrowed to ₹922 crore, as food delivery posted record adjusted core profit of about ₹349 crore while quick-commerce Instamart lost about ₹764 crore at the segment level amid heavier discounting and 69 new dark stores.
Quick-service restaurants / consumers
KFC and Pizza Hut operator Sapphire Foods India said on 22 October 2026 that September-quarter consolidated restaurant sales rose 20% year on year to about ₹885 crore, with KFC India same-store sales up 14% and adjusted EBITDA margin expanding 100 basis points to 7.1% even as the listed stock remained far below its 52-week high.
RBI / government borrowing
On 22 October 2026, the Reserve Bank of India accepted no bids at the scheduled sale of short-dated government treasury bills, the first full cancellation in about seven months, as investors demanded higher yields amid a bond selloff, oil-linked inflation fears, and expectations of more rate hikes after October’s policy minutes.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.