Sterlite Power secures ₹1,373 cr funding from PFC transmission project

Sterlite Power Secures ₹1,373 Crore for Major Transmission Project with PFC.

Expert Analysis:

• Financial Closure: Successfully secured ₹1,373 crore from Power Finance Corporation (PFC) for the Neemrana II Kotputli Transmission (NKTL) project.

• Project Acquisition: Sterlite Power acquired the Neemrana II Kotputli Transmission SPV in November 2023 to execute the green energy corridor on a Build, Own, Operate, and Transfer (BOOT) basis for a period of 35 years.

• Project Scope: The project includes the development of a state-of-the-art 6000 MVA, 765/400kV substation at Neemrana and a 400 kV transmission line network spanning approximately 250 km.

• Infrastructure Interconnections: The network will link the Neemrana substation to the existing Kotputli substation and facilitate a Line-In Line-Out (LILO) integration of the Neemrana II substation with the Gurgaon and Sohna substations through the existing Gurgaon-Sohna line.

• Additional Funding Achievement: In February 2024, Sterlite Power secured funding closure for the Beawar Transmission project from REC Power Development and Consultancy, a wholly owned subsidiary of REC.