Sterlite Power acquires Fatehgarh III Beawar transmission project in Rajasthan

This milestone marks Sterlite Power’s 18th power transmission project in India under the Tariff-Based Competitive Bidding (TBCB) mode. 

Sterlite Power, a prominent power transmission developer and solutions provider in India and Brazil, has recently revealed its acquisition of Fatehgarh III Beawar Transmission Limited, a Special Purpose Vehicle (SPV) previously owned by PFC Consulting Limited (PFCCL). PFCCL is a wholly owned subsidiary of Power Finance Corporation Limited (PFC), a Maharatna Public Sector Enterprise. Sterlite Power secured the project through the Tariff Based Competitive Bidding (TBCB) process in March 2023. Through the Fatehgarh III Beawar Transmission Limited SPV, Sterlite Power will undertake the construction, ownership, operation, and eventual transfer of a critical transmission project in Rajasthan for a span of 35 years.

The scope of the project entails the establishment of a 350km, 765kV transmission corridor connecting Fatehgarh III to Beawar in Rajasthan. This corridor will facilitate the evacuation of a significant portion of 20 GW of renewable power from Renewable Energy Zones in Fatehgarh (9.1 GW), Bhadla (8 GW), and Ramgarh (2.9 GW) regions of the state.Commenting on the project milestone, Pratik Agarwal, Managing Director, Sterlite Power, said, “The development of green energy corridors is a critical part of India’s nation building effort. These corridors will help India achieve its renewable energy vision of 500 GW by 2030. With our unique capabilities and expertise, Sterlite Power is committed to contributing to this mega effort.”

This milestone marks Sterlite Power’s 18th power transmission project in India under the Tariff-Based Competitive Bidding (TBCB) mode. The company’s continuous efforts in this domain highlight its dedication to fostering sustainable energy infrastructure and supporting India’s renewable energy aspirations.