Sterlite Power Transmission Ltd. said it would aggressively bid for business from among the transmission projects worth ₹70,000 crore coming up for auction soon. These projects have been announced for evacuation of green energy from generation centres.

Across the world, power generation is changing from fossil to non-fossil and this is giving rise to a large transmission infrastructure requirement across India and global markets, Pratik Agarwal, MD, Sterlite Power Transmission Ltd said.

“With India aiming to add 500 GW of RE (renewables) by 2030, huge investments are needed in the transmission sector, including the involvement of private sector players in the business.”

He said the company would bid as much possible from the ₹70,000 crore worth of projects that have been announced.

Mr. Agarwal said that the company would be raising fresh capital of ₹1,250 crore from its proposed IPO to fund its growth and capital expenditure plans.

“Our differentiated business model comprises two parts wherein we are doing asset ownership and development on one hand; while the second aspect is either selling services or products to the transmission industry,” he said.

As an asset owner, the company is focusing on India and Brazil, which are the two largest markets in the world that offer transmission lines on a BOT basis.

“We are doing about ₹9,000 crore of projects in India and about ₹3,500 crore of projects in Brazil,” Mr Agarwal, adding, “In our solutions business, we manufacture products and supply to more than 40 countries including many European countries.”

India is one of the few countries that has opened up its transmission sector for private participation, and it has garnered significant interest from private sector players such as Sterlite Transmission, Adani Transmission and KEC International among others.

Considering that India will add 400 GW of renewable energy in the next 9 years, which is equal to the total installed capacity of the country in last 100 years, by 2030 India will require an equivalent transmission infrastructure that is again equal to the total transmission lines put up in the last 50 to 100 years, Mr. Agarwal said.

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