Sterlite Power, a provider in the development and provision of power transmission solutions in both India and Brazil, has successfully concluded the acquisition of Neemrana II Kotputli Transmission Ltd. This Special Purpose Vehicle (SPV) was previously owned by PFC Consulting Ltd. (PFCCL), a wholly-owned subsidiary of Power Finance Corporation Ltd. (PFC), a Maharatna Public Sector Enterprise. Sterlite Power secured the project through the Tariff Based Competitive Bidding (TBCB) procedures in November 2023, and the venture is structured for a 35-year tenure based on the Build, Own, Operate, Transfer (BOOT) model.
This recent project marks Sterlite Power’s twentieth power transmission initiative in India under the TBCB process, contributing to a total project management value of approximately Rs 14,000 crore for the company. Pratik Agarwal, the Managing Director of Sterlite Power, emphasized the significance of the Neemrana II Kotputli Transmission Ltd. project in facilitating the transmission of 7.7 GW of green power. He highlighted its crucial role in supporting India’s transition to a sustainable future and underscored its alignment with the overarching goal of combating climate change and ensuring reliable power access.
The primary components of the Neemrana II Kotputli Transmission Ltd. project include the construction of two 400 kV transmission lines covering around 250 km and a 6000 MVA, 765/400 kV substation at Neemrana. These transmission lines will establish a LILO (Loop-In Loop-Out) corridor connecting Neemrana II with the Gurgaon and Sohna substations through the Gurgaon-Sohna line. Additionally, they will link Neemrana with the existing Kotputli substation.
This acquisition follows Sterlite Power’s successful involvement in previous green energy projects in Rajasthan, including the Beawar Transmission Ltd. (Phase III, Part-F) project in August 2023 and the Fatehgarh III Beawar Transmission Ltd. (Phase III, Part G) project in March 2023. These projects collectively contribute to the establishment of a 950 km-long transmission corridor across Rajasthan. This corridor is pivotal for evacuating a substantial portion of the 20 GW renewable energy capacity situated in the Renewable Energy Zones (REZs) of Fatehgarh, Bhadla, Ramgarh, and Bikaner. With the successful addition of the Neemrana II Kotputli Transmission Ltd. project, Sterlite Power now manages a total of 9 projects, further reinforcing its portfolio of green energy initiatives. The company continues to play a crucial role in advancing India’s sustainable energy infrastructure, contributing to the nation’s ambitious renewable energy targets and promoting a cleaner, more resilient power grid.
