Sterlite Power acquires Fatehgarh III Beawar Transmission from PFC – EQ Mag
The project entails the construction of a 350km, 765kV transmission corridor from Fatehgarh III to Beawar in Rajasthan.
Sterlite Power, a power transmission developer and solutions provider in India and Brazil, has announced the acquisition of Fatehgarh III Beawar Transmission Limited, a Special Purpose Vehicle (SPV) from PFC Consulting Limited (PFCCL).
PFCCL, a wholly owned subsidiary of Power Finance Corporation Limited (PFC), awarded the project to Sterlite Power through the Tariff Based Competitive Bidding (TBCB) process in March 2023. Through the Fatehgarh III Beawar Transmission Limited SPV, Sterlite Power will undertake the construction, ownership, operation, and transfer of a crucial transmission project in Rajasthan for a 35-year period.
The project entails the construction of a 350km, 765kV transmission corridor from Fatehgarh III to Beawar in Rajasthan, facilitating the evacuation 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.
Pratik Agarwal, Managing Director of Sterlite Power, emphasised the significance of green energy corridors in India’s nation-building efforts and in achieving its ambitious renewable energy vision of 500 GW by 2030. Sterlite Power is dedicated to contributing to this national endeavor with its unique capabilities and expertise, he added.
The acquisition marks Sterlite Power’s 18th power transmission project in India under the Tariff-Based Competitive Bidding (TBCB) mode.
Source: PTI
