Sterlite Power Increases: ₹1,373 Crore PFC Backs Transmission Project

Sterlite Power has achieved a significant milestone by securing financial closure for its Neemrana II Kotputli Transmission (NKTL) project, with a funding of ₹1,373 crore from Power Finance Corporation (PFC). This marks a crucial step forward in the company's endeavor to bolster India's green energy corridor infrastructure.

Raji George, Director of Corporate Finance at Sterlite Power, expressed satisfaction in concluding the deal, highlighting the trust shown by PFC in Sterlite Power's capability to deliver impactful transmission projects. This collaboration with PFC underscores Sterlite Power's commitment to executing challenging projects in the power sector.

Sterlite Power's acquisition of the Neemrana II Kotputli Transmission SPV in November 2023 paved the way for executing the green energy corridor project on a Build, Own, Operate, and Transfer (BOOT) basis for 35 years. The project entails the development of a cutting-edge 6000 MVA, 765/400kV substation at Neemrana and a 400 kV transmission line network spanning 250 km.

The transmission line network will play a pivotal role in establishing vital interconnections, linking the Neemrana substation to the existing Kotputli substation and enabling Line-In Line-Out (LILO) integration with the Gurgaon and Sohna substations through the existing Gurgaon-Sohna line.

In addition to the NKTL project, Sterlite Power secured funding for the Beawar Transmission project in February 2024 from REC Power Development and Consultancy, a subsidiary of REC. These financial closures signify Sterlite Power's continued commitment to driving progress in India's power transmission sector.

News by Rahul Yelligetti