Sterlite Electric Unlisted Shares
Sterlite Power Expands Portfolio with Acquisition of Beawar Transmission Limited Project from REC
Solar Quarter
2 min read
Sterlite Power expands its Green Energy corridor portfolio by acquiring Beawar Transmission Ltd from REC.
Regarding the development, Pratik Agarwal, MD, Sterlite Power, said, “Sterlite Power is proud to be building the green energy corridor that will enable the flow of 20 GW of renewable energy”.
Justification
The country's first private transmission infrastructure developer to implement a STATCOM Sterlite power has announced the acquisition of Beawar Transmission Limited, a Special Purpose Vehicle (SPV) from REC Power Development and Consultancy Limited –a wholly owned subsidiary of Rural Electricity Corporation.
It secured the project through the Tariff Based Competitive Bidding (TBCB) process in August 2023 & will execute it via the acquired SPV on a 35-year BOOT (build, own, operate, transfer) basis, marking Sterlite's nineteenth power transmission project in India through the TBCB process.
The company now manages approximately INR 12,000 crore worth of projects.
The acquired SPV will entail the construction of -
A 350 km 765kV transmission corridor linking Fatehgarh III's renewable energy zone to the Beawar substation.
Building a 3000 MVA 765/400kV Substation at Beawar.
Constructing two LILO lines spanning around 120 km.
Sterlite Power's acquisition reinforces its standing in India's power transmission sector, offering potential opportunities in Rajasthan and nearby states. The infrastructure development ensures a stable power supply, which can boost Sterlite's regional operations.
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