Sterlite Bags ISTS Project to Evacuate 20 GW of Renewables in Rajasthan
The line will be laid across a 350 km stretch from Fatehgarh III to Beawar
Sterlite Power has bagged an interstate transmission system (ISTS) project for the evacuation of 20 GW of power from renewable energy zones in Rajasthan under Phase III, Part-G.
The company participated in tariff-based competitive bidding and was awarded the letter of intent by PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation, to build the project on a build, own, operate, and transfer basis for 35 years.
The project comprises the construction of a 765 kV transmission corridor which will be laid across a 350 km stretch from Fatehgarh III to Beawar in the Ajmer district.
The ISTS project will enable the evacuation of a part of 20 GW of renewable power from Fatehgarh (9.1 GW), Bhadla (8.1 GW), and Ramgarh (2.9 GW) areas.
This is Sterlite’s second green energy project and the first that the company bagged in Rajasthan.
Earlier this month, Sterlite Power commissioned the ~300 km Lakadia-Vadodara Transmission Project, part of the green energy corridor. The project is designed to evacuate over 5 GW of renewables from Bhuj and Kutch to the national grid.
Sterlite Power’s Managing Director Pratik Agarwal said, “We are very happy to win another Green Energy Corridor transmission project which is vital to India’s energy transition playbook. This is our eighteenth transmission project in the country, and with our strong capabilities and experience, we are well poised to deliver another world-class asset to the nation.”
Sterlite Power’s portfolio includes 30 completed, sold, and under-construction projects covering approximately 14,602 circuit km of transmission lines across India and Brazil.
Last year, the Ministry of Power said that the government is working towards setting up transmission systems for renewable energy zones with 66.5 GW of capacity by the end of 2022 to integrate non-fossil fuel energy sources with the country’s grid. It also plans transmission arrangements for another 181.5 GW of renewable energy resources by 2030.
In October 2020, Sterlite Power secured financial closure for its Vapi II North Lakhimpur Transmission Limited project, wherein the total debt funding of ₹20.7 billion (~$281 million) came from Power Finance Corporation.