Sterlite Power Secures ₹3 Billion Funding for Transmission Project in J&K
The project will evacuate 1 GW of power from the Pakaldul Hydroelectric project
January 11, 2023
Sterlite Power, a power transmission infrastructure developer, has achieved financial closure for its Kishtwar transmission project in Jammu and Kashmir (J&K), by securing debt funding of ₹3.05 billion (~$37.38 million) from a non-banking infrastructure finance company, Aseem Infrastructure Finance (AIFL).
Sterlite Power recently acquired the Kishtwar transmission project in December 2022 to execute the inter-state transmission system project.
“We are proud to play a role in providing reliable power and building a secure energy future for J&K. This will be our second project in the region after delivering the mega NRSS Kashmir project ahead of schedule,” Akshay Hiranandani, Executive Director- Corporate Finance, Sterlite Power said.
The project involves the construction of a transmission system comprising a 400/132 kV gas-insulated substation at Kishtwar district in J&K and a 400 kV transmission line from Kishenpur village in Samba district to the Dulhasti power project.
The transmission system will aid the evacuation of 1 GW of power from the Pakaldul Hydroelectric project to the Kishtwar substation.
Apart from bringing additional power flow, it will also help decongest the downstream networks in the region, improving the quality and reliability of power flow in Kashmir valley, the company said.
CEO of AIFL, Virender Pankaj said, “Aseem Infra is glad to have supported Sterlite Power by providing long-term debt financing for the Kishtwar project which would contribute immensely to the infrastructure growth story of J&K.”
Sterlite Power currently has a portfolio of 30 completed and under-construction projects covering approximately 14,602 circuit km of transmission lines across India and Brazil. The portfolio includes high-performance power conductors, extra-high voltage cables, and optical ground wires.
In March 2022, the power transmission company announced the financial closure of its Nangalbibra-Bongaigaon Transmission Project with debt funding of ₹4.4 billion (~$53.9 million) from Tata Cleantech Capital.
In September, the company’s Mumbai Urja Marg Transmission commissioned a 400 kV transmission line in the Banaskantha, Kansari, and Vadavi regions of Gujarat.
Gautamee Hazarika
More articles from Gautamee Hazarika.RELATED POSTS
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Get the most relevant India solar and clean energy news.
RECENT POSTS
LATEST HEADLINES
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Mar 24, 2023
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
Mar 24, 2023
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Mar 24, 2023
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short
Mar 24, 2023
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth
Mar 24, 2023
India added an impressive 2.5 GW open access solar capacity in 2022, registering a growth of 92% year-over-year (YoY), according to the 2022 Q4 & Annual Mercom India Solar Open Access Market Report. Karnataka emerged as the to...
March 23, 2023
Markets & Policy
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar ModulesThe Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements betwe...
March 24, 2023
C&I
In Bengaluru, a 100 kW Solar System Can Save C&I Entities ₹1 Million AnnuallyMercom India successfully concluded the C&I Clean Energy Meet 2023 in Bengaluru, where stakeholders in the solar sector and commercial and industrial entities converged to enthusiastically discuss the benefits of renewable ene...
March 24, 2023
Other
Gensol Acquires Solar Tracker Maker Scorpius for ₹1.35 BillionGensol Engineering, a part of solar engineering, procurement, and construction (EPC) company Gensol Group, has acquired India-based solar tracker manufacturer Scorpius Trackers for ₹1.35 billion ($16.4 million). Gensol said the ac...
March 23, 2023
Trending News
Mercom Focus
Researchers Find Solution to Manage Load in Solar PV & Storage Systems
February 28, 2023
February 27, 2023
February 24, 2023
January 17, 2023
Magazine
Latest News
The Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements...
March 24, 2023
The Ministry of New and Renewable Energy (MNRE) told the Parliamentary Standing Committee on Energy that the intra-state stretches of the Green Energy Corridor (GEC) have been delayed due to various reasons, including...
March 24, 2023
German electric utility company Energie Baden-Wuerttemberg (EnBW) has made its final €2.4 billion (~$2.6 billion) investment decision on He Dreiht, a major wind project in the German North Sea. The project has a capacity of 960...
March 24, 2023
The Parliamentary Standing Committee on Energy report has isolated underwhelming progress on rooftop solar and wind energy projects as the primary reason for India falling short of achieving its renewable energy capacity target...
March 24, 2023
Researchers at Northumbria University are studying ways of producing wireless electricity from space to Earth by harvesting the Sun’s energy. U.S.-based aerospace, defense, and information security organization Lockheed Martin...
March 24, 2023
The Maharashtra Electricity Regulatory Commission (MERC) recently directed Hindustan Petroleum Corporation (HPCL) and the Maharashtra State Electricity Distribution Company (MSEDCL) to recompute the delayed payment charge from...
March 24, 2023
The National Renewable Energy Laboratory (NREL) has devised a new way to produce perovskite solar cells that could speed its commercialization. Different layers are typically added sequentially to a conductive glass substrate to...
March 24, 2023
Saudi Arabia-based energy company ACWA Power has signed power purchase and investment agreements with National Electric Grid of Uzbekistan, and the Ministry of Investment, Industry, and Trade to develop new solar and battery...
March 24, 2023
The China Securities Regulatory Commission has approved the registration of CSI Solar, the engineering, procurement, and construction arm of solar module maker Canadian Solar, to issue an initial public offering (IPO). The...
March 24, 2023
Renewable capacity grew by 9.6% in 2022, adding a record 295 GW worldwide. This accounts for 83% of all power capacity added last year and brings the global renewable generation capacity to 3,372 GW by the end of last year, a...
March 24, 2023
Get the most relevant India solar and clean energy news.
POPULAR POSTS
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Mar 24, 2023
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
Mar 24, 2023
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Mar 24, 2023
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short
Mar 24, 2023
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth
Mar 24, 2023
