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Sterlite Power, a leading player in the Indian renewable energy sector, has won a crucial project in a bid for the Transmission System in Ananthapur-II Renewable Energy Zone (REZ) Phase-I. This bid is to evacuate 4.5 GW of renewable energy. Thus giving a big push to India's renewable energy sector.
Sterlite Power won the transmission works at an annual charge of USD 52.48 million (Rs 4.48 billion). Sterlite will build this project through a special purpose vehicle on a BOOT (build, own, operate, transfer) basis for 35 years.
Project Highlights
This project aims for critical transmission to transmit 4.5 GW of renewable energy from the Ananthapur region in Andhra Pradesh. This includes:
A) Construction of a large-sized Greenfield Pooling Station at Ananthapuram-II (765/400 kV and 400/220 kV).
B) Development of 765 kV D/C transmission lines connecting Ananthapuram-II to Davangere (around 150 km) and Ananthapuram-II to Cuddapah (around 200 km).
C) Enhancement of grid stability and reliability through a 3300 MVAR STATCOM at Ananthapuram-II Pooling Station.
Key Benefits Of This Project
A) Strengthening Renewable Integration—This project will play a crucial role in strengthening India’s renewable energy infrastructure and contribute to achieving 500 GW of renewable energy goals by 2030.
B) Contribute to India's Non-Fuel-Based Electricity Generation—Thus paving the way for a sustainable and greener energy future for the country.
C) Adding to Sterlite's track record—Sterlite Power has a strong history of implementing renewable projects. This project will further solidify Sterlite's position in the industry.
About Sterlite Power (Resonia Ltd)
-Incorporated on May 15, 2015, by billionaire Anil Agarwal, Sterlite Power Transmission Ltd is engaged in the business of power transmission products and solutions with a presence in India and Brazil.
-The company has emerged as one of the most prominent Indian private companies, with over 26% of the market share of the power transmission projects won by tariff-based competitive bidding (TBCB), as per the CRISIL Research report.
-It has an impressive track record of completing 33 projects covering a 16,529 km circuit in India and Brazil.
Sterlite Power Transmission develops its integrated power transmission infrastructure and provides solutions via its Global Infrastructure and Solutions business units. The company’s portfolio comprises 30 power transmission projects, 16 operational assets, 21 substations, and 68 EHS transmission lines. Apart from that, the company continues to perform well in the unlisted share market, which is reflected in Sterlite Power Transmission's share price growth.
