New Delhi, 6 December 2022: Sterlite Power, a leading power transmission developer and solutions provider in India and Brazil, announced the acquisition of Kishtwar Transmission Limited, a Special Purpose Vehicle (SPV) from PFC Consulting Limited (PFCCL). PFCCL is a wholly owned subsidiary of Power Finance Corporation Limited (PFC), a Maharatna Public Sector Enterprise. The project was awarded to Sterlite Power through Tariff Based Competitive Bidding (TBCB) process in March 2022. Through the Kishtwar Transmission Limited SPV, the company will build, own, operate and maintain a critical transmission project in Jammu & Kashmir (J&K) for a period of 35 years.
The project will comprise a 400/132kV GIS substation at Kishtwar and 400 kV Kishenpur-Dulhasti LILO (Line in Line out) transmission line. The transmission system will be used for evacuation of 1000MW of power from Pakaldul Hydro Electric Project to the Kishtwar substation.
Mr. Manish Agarwal, Director & CEO – India Transmission Business, Sterlite Power, said, “We, at Sterlite Power, are committed to empowering humanity by ensuring power connectivity through our power transmission projects. With Kishtwar transmission project, we aim to further strengthen the power infrastructure and usher economic development in the J&K region.”
This will be Sterlite Power’s 17th power transmission project in India under the Tariff-Based Competitive Bidding (TBCB) mode.
About Sterlite Power:
Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with a robust portfolio of 30 projects covering approximately 14,602 circuit Kms of transmission lines across India and Brazil. The Company has a portfolio of high-performance power conductors, extra-high voltage (EHV) cables and optical ground wires (OPGW). The Company provides bespoke solutions for the upgrade, uprate, and fiberization of existing transmission infrastructure projects. Advancing the carriage toward a green energy-efficient future, Sterlite Power has an increasing focus on integrating renewable energy into the grid. It was the sponsor of IndiGrid, India’s first power sector InvIT, listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. The Company was also recognized at The Economic Times Innovation Awards 2020 and is a recipient of awards from the International Project Management Association (IPMA).
For more details, please visit https://www.sterlitepower.com/
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