Sterlite Secures Funding for Beawar Transmission Corridor

Sterlite Power, a prominent player in power transmission development, has successfully reached financial closure for its Beawar Transmission (BTL) project in Rajasthan, marking a significant milestone in its endeavors.

This achievement involves securing substantial funds totaling approximately Rs 2,400 crore from REC Power Development and Consultancy, a wholly-owned subsidiary of the Rural Electricity Corporation (REC). The BTL project aims to connect the renewable energy zone at Fatehgarh-III to a proposed substation at Beawar in the state of Rajasthan.

Notably, Sterlite Power managed to achieve financial closure for the project within a remarkably short timeframe of just four months following its acquisition of the project. This rapid progress underscores the company's commitment to expediting the delivery of this critical project, which forms an integral component of the broader green energy corridor. Once operational, the corridor is expected to facilitate the evacuation of approximately 20 GW of renewable energy.

Sterlite Power took over the BTL special purpose vehicle (SPV) in September 2023, with the objective of executing the inter-state green energy transmission project on a build-own-operate-transfer (BOOT) basis for a duration of 35 years. This strategic acquisition positions Sterlite Power as a key player in advancing sustainable energy infrastructure and contributes significantly to India's renewable energy objectives.

News by Rahul Yelligetti