National, 22nd September 2023: Sterlite Power, a leading power transmission developer and solutions provider in India and Brazil, announced the acquisition of Beawar Transmission Limited, a Special Purpose Vehicle (SPV) from REC Power Development and Consultancy Limited – a wholly owned subsidiary of Rural Electricity Corporation. The project was awarded to Sterlite Power through the Tariff Based Competitive Bidding (TBCB) process in August 2023.
Through the Beawar Transmission Limited SPV, the company will build the Green Energy Corridor project on BOOT (build, own, operate, transfer) basis, for a period of 35 years. This is Sterlite Power’s nineteenth power transmission project in India under the TBCB process. With this project, Sterlite Power has ~INR 12,000 cr of projects under management.
Speaking on the development, Pratik Agarwal, Managing Director, Sterlite Power said, “Sterlite Power is proud to be building the green energy corridor that will enable the flow of 20 GW of renewable energy. We are committed to delivering this critical infrastructure project on time and to the highest standards of quality and safety.”
Beawar Transmission Limited will entail construction of three integral components – 1) a 350 km 765kV transmission corridor connecting the renewable energy zone of Fatehgarh III to the substation at Beawar, 2) Construction of a 3000 MVA 765/400kV Substation at Beawar, and 3) construction of two LILO lines, covering approximately 120 km. Sterlite Power will be the first private transmission infrastructure developer in the country to implement a STATCOM.
Earlier this year in March 2023, Sterlite Power won Part G Phase III of the project, titled Fatehgarh III Beawar Transmission Limited. With the completion of both Part F and G, the transmission line will be amongst the largest Green Energy Corridors to be built in the country.
About Sterlite Power:
Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with a robust portfolio of 32 completed, sold and under construction projects covering approximately 15,350 circuit Kms of transmission lines across India and Brazil. Sterlite Power also has a robust portfolio of high-performance power conductors, extra-high voltage (EHV) cables and optical ground wires (OPGW). The Company provides bespoke solutions for the upgrade, uprate, and fiberization of existing transmission infrastructure projects. Advancing the carriage toward a green energy-efficient future, Sterlite Power has an increasing focus on integrating renewable energy into the grid. It is the first transmission player to launch InvIT in the power sector, listed on the BSE Limited and the National Stock Exchange of India Limited. The Company has been recognized as the ‘Power Transmission Company of the Year’ at The Economic Times Energy Leadership Summit 2023 and is a recipient of international awards from S&P Platts as well as International Project Management Association (IPMA).
For more details, please visit https://www.sterlitepower.com/
