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Sterlite Power
Power transmission solution provider Sterlite Grid 32 Ltd (SGL32) on Monday announced securing Rs 2,450 crore through listed non-convertible debentures (NCDs) to refinance its Mumbai Urja Marg Ltd project. The National Bank for Financing Infrastructure and Development (NaBFID) and India Infrastructure Finance Company Limited (IIFCL) have emerged as the successful bidders to the NCDs that have been listed on the Bombay Stock Exchange (BSE), according to a statement. This is the first listed NCD issuance of Sterlite Grid 32 Limited after its joint venture with GIC of Singapore. The NCDs are rated AA+ stable by CRISIL Ratings. The infrastructure business of Sterlite Power Transmission Ltd was demerged into Sterlite Grid 5 Limited (SGL5) effective October 8, 2024. SGL5 has recently entered into a joint venture with GIC of Singapore, following which SGL5 is to execute all its transmission projects in India through Sterlite Grid 32 Limited (SGL32). Pratik Agarwal, Director, Sterlite Gri
Sterlite Power Transmission Ltd (SPTL) on Thursday said it has received shareholders' nod to demerge its transmission business. The demerged transmission infrastructure is to be housed under Sterlite Grid 5 Ltd, and the global products and specialised EPC services will continue to remain under SPTL to pursue independent growth strategies. "Sterlite Power receives stakeholders' approval for demerger of transmission business from SPTL. The vote on the demerger proposal received 100 per cent approval from secured creditors, 99.26 per cent approval from unsecured creditors, 99.99 per cent from equity shareholders present and voting, and 100 per cent by the non-fund-based lenders," the company said. The simplified structure will allow each entity to attract capital pool tailored to its requirements. The transmission business can target long-term, patient investors seeking predictable cash flow, while SPTL, focusing on Global Products & Services (GPS) business, can attract capital ...
Sterlite Power on Monday announced appointment of Reshu Madan as CEO of the company's Global Products & Services Business. His appointment is effective from May 1, the company said in a statement. Madan takes over the charge from Manish Agarwal who has decided to pursue an opportunity outside the company. He will report to company's Managing Director Pratik Agarwal, it said. Madan has spent over 25 years in leadership positions across power and infrastructure. Over the last five years at Sterlite, he has driven the growth of the company's power cables vertical. "I look forward to collaborating with our talented team and valued customers to unlock this potential and deliver clean energy solutions on a global scale," Madan said. Sterlite Power is a leading private sector power transmission infrastructure developer and global products and services (GPS) provider. The GPS business manufactures and supplies high-performance power conductors, extra-high voltage, high voltage and mediu
Sterlite Power on Tuesday announced securing new orders worth Rs 2,500 crore during the quarter ended March 31. This takes the company's cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement. "Sterlite Power has capped off a successful fiscal year FY24 with new orders worth Rs 2,500 crore for its Global Products and Services (GPS) business unit in Q4. 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 company said. Pratik Agarwal, Managing Director, Sterlite Power, said, the company's GPS business is experiencing significant growth. These products are essential in driving the sector's expansion over multiple decades, spurred by the global shift towards energy transition and decarbonization. In Q4, some of the projects secured by the company are for
Sterlite Power and global investment firm GIC will set up a joint venture for developing and operating power transmission projects in India, a statement said on Wednesday. The joint venture (JV) will focus on developing and operating power transmission projects in the country. Private power transmission developer Sterlite Power will own the majority 51 per cent stake and GIC will own the remaining 49 per cent shareholding, the statement said. Sterlite Power and an affiliate of GIC have announced the signing of definitive agreements to set up a new platform to develop and operate power transmission projects in India. This JV signals global confidence in India's growth vision, Sterlite Power Managing Director Pratik Agarwal said in the statement. "With GIC as our partner, we are poised to play a leading role in India's transmission sector, starting with the USD 13 billion bid pipeline," he added. Ang Eng Seng, Chief Investment Officer of Infrastructure at GIC, said India is a key .
Sterlite Power on Tuesday said it has secured new orders worth Rs 1,400 crore during the quarter ended December 2023. These orders from domestic and export markets are for high-performance power conductors, optical ground wire (OPGW) and power cables among others. Further, the company has also received orders for specialized Engineering, Procurement and Construction (EPC) services and turnkey EPC for extra high voltage (EHV) and high-voltage (HV) cables in the domestic market, Sterlite Power said. The equipment will be supplied for projects like metro, data center, and power projects. "The order wins are indicative of the growing demand for our product offerings in India and export markets. "With increased focus on decarbonization, our range of high-performance conductors, HV and EHV cables and specialized EPC services for cable transmission, continue to make a significant impact in the energy transition journey," Manish Agarwal, CEO, Global Products & Services business ...
Sterlite Power on Thursday said it has bagged a transmission project, which will aid evacuation of 8 GW renewable energy to Rajasthan, Haryana and Uttar Pradesh. The company has secured the order for Rajasthan REZ Ph-IV (Part-1-Bikaner Complex): Part-B Transmission project, a company statement said. "Transmission today underpins India's energy transition success. We are happy to win this critical project that will allow around 8000 MW of renewable energy to flow from RE (renewable energy) rich Bikaner to load centres in Rajasthan, Haryana and Uttar Pradesh," said Pratik Agarwal, Managing Director, Sterlite Power. With this order win, Sterlite Power has secured its third Green Energy Corridor (GEC) project in Rajasthan. Sterlite Power will be building this project on a BOOT (Build, Own, Operate, Transfer) basis, for a period of 35 years. The project was bid out through tariff-based competitive bidding (TBCB) process. Sterlite Power is a private sector power transmission infrastruct
Power transmission infrastructure developer and solutions provider Sterlite Power Transmission on Friday said it has decided to demerge electricity transmission infrastructure business spread across India and Brazil. The demerged Sterlite Power Transmission Ltd (SPTL) entity will continue to hold the global products and specialised EPC (engineering, procurement and construction) services business as well as the convergence - fiberco business, a company statement said. SPTL announced the strategic decision to demerge its power transmission infrastructure business (build, operate and transfer model) spread across India and Brazil. This move comes as part of the company's intent to create 'pure play' business verticals based on end-customer base, investor class and returns. Pratik Agrawal, Managing Director, SPTL, said in the statement, "The demerger will enable both entities to create independent capital structures, unlock value and attract investors suitable for the distinct growth
Sterlite Power on Friday said it has acquired Beawar Transmission Ltd for developing an electricity transmission project in Rajasthan. Beawar Transmission is a Special Purpose Vehicle (SPV) of REC Power Development and Consultancy Ltd. The SPV was awarded to Sterlite Power through tariff-based competitive bidding in August, a company statement said. "Sterlite Power announces the acquisition of Beawar Transmission Ltd from REC Power Development and Consultancy Ltd, a wholly owned subsidiary of REC Ltd," it said. The company did not share the financial details of the acquisition. Through the Beawar Transmission Ltd, the company will build the Green Energy Corridor project on Build, Own, Operate, Transfer (BOOT) basis, for a period of 35 years, as per the statement. This is Sterlite Power's 19th power transmission project in India acquired through tariff-based competitive bidding, the company said, adding that it now has Rs 12,000 crore worth of projects under management. "Sterlite
Sterlite Power on Tuesday reported over 30 per cent rise in its standalone net profit to Rs 322.01 crore for 2022-23, mainly on the back of higher revenues. The company's standalone net profit was Rs 246.57 crore in the preceding fiscal ended March 2022, a company statement said. Its revenue from operations rose to Rs 3,923.51 crore in fiscal 2022-23 from Rs 3,797.38 crore a year ago. Sterlite Power Managing Director Pratik Agarwal said, "The results demonstrate our continuous focus on garnering new opportunities and operational efficiencies and underscores our commitment to be a key player in building the nation's energy landscape". Recently, a record Rs 75,408 crore worth of power transmission projects have been approved by the 14th National Committee on Transmission (NCT) and are likely to be awarded this year through the bidding route, he added. With a solid track record of executing complex projects, the company is well positioned to capture a sizeable chunk of this opportuni
Sterlite Power on Wednesday said it has acquired Fatehgarh III Beawar Transmission, a special purpose vehicle, from PFC Consulting Limited. PFC Consulting Limited (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation Limited under the Ministry of Power. "Sterlite Power acquires Fatehgarh III Beawar Transmission Project in Rajasthan from PFC. The project was awarded to Sterlite Power through tariff-based competitive bidding process in March 2023," the company said in a statement. Through the Fatehgarh III Beawar Transmission Limited special purpose vehicle (SPV), the company will set up a critical transmission project in Rajasthan on build-operate-transfer mode for 35 years. The project will involve constructing a 350 kilometre, 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. Ster
Sterlite Power on Thursday announced commissioning of its sixth transmission project in Brazil built with an investment of Rs 1,600 crore. The project, Marituba involved developing a 344-km 500kV transmission corridor connecting Brazil's largest hydropower plant at Tucuru to the metropolitan region of Belm to deliver up to 1000 MW of green energy, a company statement said. Since its foray in Brazil in 2017, Sterlite Power has built a significant footprint in the country, acquiring 13 projects through greenfield global auction process. Currently, the company has a strong portfolio of 8 power transmission projects, of which it has developed six, spanning approximately 2000 kilometre of transmission lines and 22 substations. Located in the Amazon region, it is the largest power transmission project executed by Sterlite Power Brazil.
Sterlite Power on Wednesday said it has bagged new orders worth Rs 1,400 crore during the quarter ended March 31, 2023. The set of orders, won across domestic and international markets, have strengthened the company's solutions business unit's order book to Rs 5,200 crore during FY23, Sterlite Power said in a statement. Sterlite Power has secured multiple new orders worth Rs 1,400 crore across its 'solutions' business that caters to products and specialized EPC (engineering, procurement and construction), during the last quarter of FY 2023," it said. Major orders secured during the January-March quarter are for upgrading transmission projects and supply of high-performance products. The company said it has bagged a major order from PowerGrid Corporation to upgrade/uprate its 400 kV Jharsuguda/Sundargarh - Rourkela line, to deploy its reconductoring solution. In addition, Sterlite Power would be building 220kV double circuit transmission lines for Serentica Renewables. In product
Sterlite Power on Wednesday said it has started aerial operations to expedite the construction of its flagship Mumbai Urja Marg Project (MUML). To fast-track the completion of 400kV transmission corridor connecting Padgha to Khargar, which links Mumbai to the national grid, Sterlite Power has proactively deployed lightweight helicopters to overcome the challenges of terrain and speed up material transfer, the transmission infrastructure developer and solutions provider said in a statement. The aerial operations will involve the movement of around 3,000 metric tonnes of various materials over a period of two months. The lightweight helicopter AS 350 B3 with a load-carrying capacity of up to 1000 kg per sortie will be pressed into service to transport heavy equipment and material across several locations in and around the Mumbai region. Manish Agarwal, Director & CEO India Transmission, Sterlite Power, said, " The aviation operation MUML is a proactive step forward on our part and .
The industry is expecting the government to invite bids for power transmission infrastructure projects worth Rs 1.50 lakh crore in the next 18 months, Sterlite Power Transmission said on Thursday. In December, the government had launched a plan with investment opportunities of about Rs 2.44 lakh crore for building a transmission system for evacuating 500 gigawatts (GW) of non-fossil based energy by 2030. "We expect that nearly 60-65 per cent of these projects totalling Rs 150,000 crore will come up for bidding in next 18 months since completion of all processes and then construction of projects will take another 4-5 years," said a senior Sterlite Power Transmission official. The industry expects the government to invite bids under tariff based competitive bidding (TBCB) for power transmission infrastructure projects as it accelerates creation of new power lines and green energy corridors to integrate rising share of renewable power, the official said. As one of India's leading ...
Sterlite Power on Friday said it has bagged a green energy transmission project in Rajasthan. The project was bid out through tariff-based competitive bidding (TBCB) process, a company statement said. Sterlite Power received the Letter of Intent (LoI) from PFC Consulting Ltd to build the project on BOOT (build, own, operate, transfer) basis, for a period of 35 years. Sterlite Power has been awarded the transmission project for the evacuation of power from renewable energy zones in Fatehgarh (9.1 GW), Bhadla (8 GW) and Ramgarh (2.9 GW) areas in Rajasthan. The entire transmission system forms a critical part of the roadmap released by the Ministry of Power in 2022 for the integration of over 500 GW RE Capacity to the national grid by 2030. The project will involve construction of a 350km, 765kV transmission corridor from Fatehgarh III to Beawar in Rajasthan. Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with a robust .
Sterlite Power on Monday said that it has successfully commissioned its largest green energy corridor in Gujarat called Lakadia-Vadodara Transmission Project. The project aims to deliver more than 5,000 MW of power from renewable rich regions of Bhuj and Kutch to the national grid, a step towards accelerating India's transition towards a greener economy, a statement said. Sterlite Power, a leading power transmission company in India and Brazil, announced the commissioning of its green energy corridor project - Lakadia-Vadodara Transmission Project Ltd (LVTPL), it stated. Built with an investment of Rs 2,024 crore, this inter-state transmission project connects the 765/400 kV substation at Lakadia to Vadodara through a 335 kilometres long 765 kV double-circuit transmission line, it stated. With 812 towers spanning seven districts in Gujarat, this transmission corridor is also one of the largest in India till date, it claimed. Additionally, it forms a critical part of the world's ..
Sterlite Power on Monday said it has bagged orders worth Rs 3,800 crore in the first three quarters of this fiscal, which is 90 per cent higher than a year ago. The orders were bagged by the solutions' business unit in the domestic and international markets during the first three quarters FY23, showing a growth of 90 per cent growth compared to the same period of FY22, a company statement said. Sterlite Power is a leading power transmission developer and solutions provider. The new order wins are for the uprate of existing power transmission lines for 132 kV, 220 kV and 400kV of Power Grid Corporation of India (PGCIL) and state utilities like Meghalaya Power Transmission Corporation Ltd (MePTCL), and West Bengal State Electricity Transmission Company Ltd (WBSETCL), it said. For Haryana Vidyut Prasaran Nigam Ltd (HVPNL), the company will supply and install OPGW for fiberization of the state's existing transmission network for 66 kV, 132 kV, 220 kV and 400kV. In the products busines