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

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

30 May 2024

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Key Takeaways

  • 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.

  • 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.

Sterlite Electric Unlisted Shares

Sterlite Electric

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Expert Analysis

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.

Publisher:The Hindu Business line