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Sterlite Power achieves financial closure for Beawar transmission project

February 12, 2024 3:00 pm

Sterlite Power achieves financial closure for Beawar transmission project

Secures INR 2400 crore funding, expediting delivery of critical green energy corridor infrastructure.

Sterlite Power, a prominent developer of power transmission and a global provider of products and services, has achieved financial closure successfully for its Beawar Transmission Limited (BTL) project. The project has secured funds totaling approximately INR 2400 crore from REC Power Development and Consultancy Limited, a wholly-owned subsidiary of Rural Electricity Corporation. This achievement comes within just four months of Sterlite Power acquiring the project. 

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Commenting on the development, Pratik Agarwal, Managing Director, Sterlite Power said, Financial closure is an important milestone in an infrastructure project’s life cycle. Achieving this in a short span will help us in expediting the delivery of this critical project – an integral part of the larger Green Energy Corridor that will help evacuate around 20 GW of renewable energy.”

Sterlite Power acquired the BTL SPV in September 2023 to execute an inter-state green energy transmission project on a BOOT (build, own, operate, transfer) basis, spanning 35 years. The project entails constructing a 350 km, 765kV transmission corridor linking the renewable energy zone at Fatehgarh III to a proposed substation at Beawar. Additionally, it involves building a 3000 MVA 765/400kV Substation at Beawar and two LILO lines covering approximately 120 km. Sterlite Power boasts a proven track record of successfully executing complex projects, setting new industry benchmarks through cutting-edge technologies and innovative financing.

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