Sterlite Power, a renowned power transmission developer and global solutions provider, has achieved a significant milestone by securing financial closure for its Beawar Transmission Limited (BTL) project. This achievement, totaling approximately INR 2400 crore in funds, comes from REC Power Development and Consultancy Limited, a wholly-owned subsidiary of Rural Electricity Corporation. Remarkably, Sterlite Power accomplished this feat within just four months of acquiring the project.
Pratik Agarwal, Managing Director of Sterlite Power, emphasized the significance of this milestone, stating, “Financial closure marks a pivotal moment in the lifecycle of an infrastructure project. Achieving this milestone swiftly will expedite the delivery of this critical project, an integral component of the broader Green Energy Corridor aimed at evacuating around 20 GW of renewable energy.”
Sterlite Power acquired the BTL SPV in September 2023 with the aim of executing an inter-state green energy transmission project on a BOOT (build, own, operate, transfer) basis for a duration of 35 years. The project entails the construction of a 350 km, 765kV transmission corridor linking the renewable energy zone at Fatehgarh III to a proposed substation at Beawar. Additionally, the project includes the construction of a 3000 MVA 765/400kV Substation at Beawar and two LILO lines covering approximately 120 km.
With a proven track record of successfully executing complex projects, Sterlite Power has consistently set new industry benchmarks by leveraging cutting-edge technologies and innovative financing mechanisms.