January 10, 2016, New Delhi: Sterlite Grid, India’s largest private developer of independent power transmission systems has received the Letter of Intent (LoI) to commission power evacuation infrastructure in Odisha for local power projects. Sterlite Grid emerged as the lowest bidder for the power transmission project in Odisha with a levelized annual tariff of Rs 139.79 Crores.
The bids were invited by PFC Consulting Limited to develop transmission systems for Odisha based power projects named as “For Common Transmission System for Phase-II Generation Projects in Odisha and Immediate Evacuation System for OPGC Project in Odisha”. The transmission lines will form part of Interstate transmission network providing additional evacuation up to 5,000 MW of electricity from Odisha based plants that are seeking better access to the power consuming centers.
Sterlite Grid will Build, Own, Operate & Maintain approx 300 km of 765 kV Double Circuit system strengthening line from Jharsugda to Raipur and approx 50 km of 400 kV Double Circuit line between OPGC Power Project & Jharsugda with approximate capital expenditure of Rs 1,250 Cr.
This is the eighth project won by Sterlite Grid under the Tariff Based Competitive Bidding mechanism. With this project, Sterlite Grid’s portfolio includes 23 Extra High Voltage (EHV) transmission lines and three substations with nearly 6,000 Circuit Km. This project will further strengthen company’s position as the largest private developer of independent transmission systems.
“We will execute this project on fast track to help country’s vision of uninterrupted power supply for all. We are confident that our talented team coupled with cutting edge technology will create a robust power evacuation network in record time,” said Mr. Pravin Agarwal, Chairman of Sterlite Power Grid Ventures Limited.
Last month, Sterlite Grid set a new benchmark by commissioning the Transmission Project to Rajasthan Atomic Power Project (RAPP) ahead of schedule. Since the implementation of the Tariff Based Competitive Bidding (TBCB) regime, this is the first time a power transmission line has been commissioned ahead of schedule.
In past one year, Sterlite Grid put 12 Extra High Voltage elements into operations adding 2,700 circuit km and 6,000 MVA of transformation capacity in the country. Its ongoing projects PKTCL, NRSS 29 and MTL, are on track and are also likely to be completed ahead of schedule.
About Sterlite Grid
Sterlite Power Grid Ventures Limited is a subsidiary of Pune-headquartered Sterlite Technologies Limited (BSE: 532374, NSE: STRTECH). In a short span, Delhi-based Sterlite Grid has built a strong portfolio of eight projects spanning nearly 6,000 Circuit Km, entailing an investment of ~ Rs 10,000 Crore. It owns and operates ~3,200 Circuit Km, under four of the operating projects, across eight states in India. It is also the first Indian developer to deploy aerial technologies such as LiDAR survey and helicopter-aided construction in India, reducing the commissioning time.