Sterlite Power won new orders worth Rs.2,500 crore in Q4 of FY24, taking the cumulative annual inflow to Rs.7,000 crore.
In a release, Sterlite Power said that it won new orders worth Rs.2,500 crore with respect to its Global Products & Services (GPS) business unit, in Q4 (January to March) of FY24.
This took the cumulative order inflow in FY24 to Rs.7,000 crore – up 35 per cent from the comparable level in FY23.
This growth underscores the growing global and domestic demand for robust power transmission infrastructure, particularly to support the integration of renewable energy sources critical for a net-zero future, the release said.
Increasing demand for specialized products
Commenting on the new order wins, Pratik Agarwal, Managing Director, Sterlite Power, said, ““Our GPS business is experiencing significant growth, underscored by a robust order book that highlights our commitment to delivering premium, high-quality products. These products are essential in driving the sector’s expansion over multiple decades, spurred by the global shift towards energy transition and decarbonization. We are seeing a substantial increase in demand for our specialized high-performance conductors and underground cables as nations invest in stronger, higher-capacity transmission grids.”
Highlights
The following are highlights of the order wins, with respect to various products and services.
High-Performance Conductors & OPGW: In Q4, the company secured a substantial set of orders to supply conductors to green energy power transmission projects in Rajasthan including the Fatehgarh-Bhadla Transmission line project. Together, these projects will enable evacuation of 20 GW of renewable energy from Rajasthan to the National power Grid.
In addition, the company is also exporting high-performance green products to customers across Americas, European Union, Africa, and Middle East. Further, the company’s OPGW segment also witnessed significant traction from Power Grid Corporation of India and state utilities like Uttar Pradesh Power Transmission Company Ltd. and Jharkhand Urja Sancharan Nigam Ltd (JUSNL).Further, the company has successfully bagged export orders for OPGW in Africa and CIS markets.
Power Cables: The demand for power cables mirrored the growth in renewable energy integration, urbanization, and grid expansion. Sterlite Power has secured multiple orders to supply EHV and HV cables for large-scale infrastructure projects that are underway in the states of Madhya Pradesh, West Bengal, Karnataka, Odisha, and Gujarat. Securing such projects showsGPS’s capability to deliver end-to-end solutions on turnkey basis and be a dependable partner in infrastructure development of the nation.
Specialized EPC services: The company’s specialized EPC services unit signed a turnkey project contract with Odisha state transmission utility to uprate its existing 132kV Pratapsasan-Kesura-Ransinghpur transmission line using high performance conductors (HPC). This project will offer a cost-effective solution to increase transmission capacity of the transmission line without requiring additional right-of-way, enabling the state to modernize its power network to meet future load growth.
Also read: Sterlite Power And GIC Announce JV To Create Power Transmission Platform
Featured photograph (source: Sterlite Power) is for representation only.
