Sterlite Power acquires the Green Energy Transmission Corridor Project
Completes acquisition of Lakadia – Vadodara Transmission Project from PFC Consulting Limited
New Delhi, 3rd December 2019: Sterlite Power, a leading global player in power transmission announces the acquisition of its inter-state GEC transmission project, Lakadia Vadodara Transmission Project Limited (LVTPL), from PFC Consulting Limited. The company had won this project (WRSS 21 – Part B) through tariff-based competitive bidding process and would execute it under the Build, Own, Operate and Maintain (BOOM) model for 35 years in the state of Gujarat.
The project is aligned to enable the country’s renewable energy target of installing 175 GW RE by 2022 and connects the wind energy zones of Bhuj in Gujarat to the load centres in the States of Gujarat and Maharashtra. The project involves laying 350 kms of 765 kV double-circuit transmission line connecting 765/400 kV Lakadia substation to Vadodara substation in Gujarat, in an aggressive timeframe of 18 months.
Commenting on the project acquisition, Pratik Agarwal, Managing Director, Sterlite Power said, “This is another resounding success for Sterlite Power. We are proud to be part of this energy-transition journey of the country and are fully geared to contribute to it with this and more such projects.”
With the acquisition of this project, the company has increased its domestic footprint in inter-state transmission projects to 22 states with a cumulative transmission line network of more than 9000 ckms and 16,000 MVA transformation capacity. This marks the 14th addition to our domestic project portfolio. The company has a strong presence in Brazil with a portfolio of 10 transmission projects.
About Sterlite Power
Sterlite Power is a leading global developer of power transmission infrastructure with projects of over 13,315 circuit kms and 23,885 MVA in India and Brazil. With an industry-leading portfolio of power conductors, EHV cables and OPGW, Sterlite Power also offers solutions for upgrading, uprating and strengthening existing networks. The Company has set new benchmarks in the industry by use of cutting-edge technologies and innovative financing. Sterlite Power is also the sponsor of IndiGrid, India’s first power sector Infrastructure Investment Trust (“InvIT”), listed on the BSE and NSE.
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