Sterlite Electric Unlisted Shares
Sterlite Power secures ₹1,373 cr funding from PFC transmission project
The Hindu Business line
2 min read
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.
Funding Achievement and Trust:
Secured ₹1,373 crore from Power Finance Corporation for the NKTL project, reflecting PFC's confidence in Sterlite Power's expertise.
Project Components:
Includes a 6000 MVA, 765/400kV substation at Neemrana and a 400 kV transmission line network spanning 250 km.
Infrastructure Connectivity:
Links Neemrana substation with Kotputli, Gurgaon, and Sohna substations, enhancing grid stability.
Acquisition and Operational Framework:
Acquired in November 2023 and executed on a 35-year Build, Own, Operate, and Transfer (BOOT) basis.
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