Bengaluru, February 12, 2024: Sterlite Power, a number one energy transmission developer and international services supplier, has efficiently achieved monetary closure for its Beawar Transmission Limited (BTL) challenge. The challenge has secured funds totaling ~INR 2400 crore from REC Power Development and Consultancy Limited – an entirely owned subsidiary of Rural Electricity Corporation. This accomplishment follows inside simply 4 months of Sterlite Power buying the challenge.
Commenting on the event, Pratik Agarwal, Managing Director, Sterlite Power mentioned, “Financial closure is a vital milestone in an infrastructure challenge’s lifecycle. Achieving this in a brief span will assist us in expediting the supply of this important challenge – an integral half of the bigger Green Energy Corridor that can assist evacuate round 20 GW of renewable vitality.”
Sterlite Power acquired the BTL SPV in September 2023 to execute the inter-state inexperienced vitality transmission challenge on BOOT (construct, personal, function, switch) foundation, for a interval of 35 years. The challenge entails development of a 350 km, 765kV transmission hall that can join the renewable vitality zone at Fatehgarh III to a proposed substation at Beawar. The challenge may also embody development of 3000 MVA 765/400kV Substation at Beawar and two LILO strains masking roughly 120 km.
Sterlite Power has a confirmed observe document of executing advanced tasks efficiently and has set new business benchmarks by way of cutting-edge applied sciences and revolutionary financing.