Sterlite Power has announced the acquisition of “Fatehgarh III Beawar Transmission Ltd”, a project special purpose vehicle (SPV) from bid process coordinator PFC Consulting Ltd (PFCCL).
In a release, Sterlite Power said that through this project SPV, the company will build, own, operate, and transfer, a critical transmission project in Rajasthan for a period of 35 years.
The project was awarded to Sterlite Power through the tariff based competitive bidding (TBCB) process in March 2023.
The project will involve construction of a 350-km, 765kV 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.
This will be Sterlite Power’s 18th power transmission project in India under the TBCB mode.
Green energy corridors
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.”
Also read: Sterlite Power Commissions Its Sixth Power Transmission Project In Brazil
Featured photograph (source: Sterlite Power) is for representation only.
