Sterlite Power’s TBCB project SPV acquisition
Sterlite Power has acquired a project SPV for a Rajasthan TBCB project.
Image for illustration purposes.
India, Jaipur: Sterlite Power has acquired a project SPV for a Rajasthan TBCB project.
Sterlite Power has announced that it has acquired a project special purpose vehicle (SPV) “Fatehgarh III Beawar Transmission Ltd” from bid process coordinator PFC Consulting Ltd.
Through this project SPV, Sterlite Power will build, own, operate, and transfer a critical transmission project in Rajasthan for a period of 35 years.
The project was awarded through the tariff based competitive bidding (TBCB) process to Sterlite Power in March 2023.
The project will involve the construction of a 350 km, 765 kV transmission corridor from Fatehgarh III to Beawar in Rajasthan. It will enable evacuation of a part of 20 GW of renewable power from Renewable Energy Zones in Fatehgarh (9.1 GW), Bhadla (8 GW) and Ramgarh (2.9 GW) areas of the state.
Commenting on the project milestone, Pratik Agarwal, Managing Director, Sterlite Power said, “The development of green energy corridors is a critical part of India’s nation building effort. These corridors will help India achieve its renewable energy vision of 500 GW by 2030. With our unique capabilities and expertise, Sterlite Power is committed to contributing to this mega effort.”
Source: T&D India
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https://transformers-magazine.com/tm-news/sterlite-power-acquires-kishtwar-transmission-project/
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