Sterlite Power Acquires Rajasthan Transmission Project
Dec 28, 2023 15:51
Sterlite Power has acquired Neemrana II Kotputli Transmission in Rajasthan, its 20th project under the TBCB process. This acquisition strengthens the company's green energy portfolio and contributes to India's transition to a sustainable future.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Dec 28 (PTI) Sterlite Power on Thursday said it has acquired Neemrana II Kotputli Transmission in Rajasthan from PFC Consulting.
The project, a special purpose vehicle, was awarded to Sterlite Power through the Tariff-Based Competitive Bidding (TBCB) process in November 2023, the company said in a statement.
Through Neemrana II Kotputli Transmission Ltd, the company will build this green energy project on a BOOT (Build, Own, Operate, Transfer) basis, for a period of 35 years.
According to the statement, Sterlite Power -- a leading power transmission developer and solutions provider in India and Brazil -- has acquired Neemrana II Kotputli Transmission from PFC Consulting Ltd (PFCCL).
The PFCCL is a wholly owned subsidiary of Power Finance Corporation Ltd (PFC).
This is Sterlite Power's 20th power transmission project in the country under the TBCB process.
With this, Sterlite Power now has Rs 14,000 crore of projects under management.
"Enabling part of 7.7 GW of green power flow, the Neemrana II Kotputli Transmission project is another vital cog in the machine that will accelerate the nation's transition to a sustainable future," Sterlite Power Managing Director Pratik Agarwal said in the statement.
Neemrana II Kotputli Transmission will require the development of two integral components -- 6,000 MVA, 765/400kV substation at Neemrana, and two 400 kV transmission lines spanning 250 km, connecting Neemrana with the existing Kotputli substation; and another LILO corridor that will connect Neemrana II with Gurgaon and Sohna substations through the existing Gurgaon-Sohna line, as per the statement.
In March 2023, Sterlite Power won its first green energy project in Rajasthan -- Fatehgarh III Beawar Transmission Ltd (Phase III, Part G project).
This was followed by a Beawar Transmission Ltd (Phase III, Part-F) win in August 2023.
These green energy projects will entail construction of a 950-km transmission corridor across Rajasthan.
These corridors will be instrumental in the evacuation of a significant portion of 20 GW of renewable energy from Renewable Energy Zones (REZs) in Fatehgarh (9.1 GW), Bhadla (8 GW) and Ramgarh (2.9 GW), and 7.7 GW in Bikaner.
The project win adds to the overall green energy portfolio of the company, taking the total projects under management tally to nine.
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