Sterlite Power on Tuesday said it has acquired the Rs1,500 crore Goa-Tamnar Transmission Project.
The project will deliver an incremental 400kV feed to Goa and scale up the transmission network for power evacuation from generation projects pooled at Raigarh (Chhattisgarh), a Sterlite Power statement said.
According to the statement, with 15 power transmission projects including three in Brazil, Sterlite is poised to increase its current market share of 30% of the public private partnership (PPP) market. The Raigarh pool had been facing high-fault levels and this project aims at creating an alternative path of evacuation.
The project will help address the quality of power transfer from generating stations connected to the Raigarh pool.
“With this acquisition, we have increased our footprint of inter-state transmission projects to 21 states. Significantly, we are committed to delivering this project also ahead-of-schedule as has been our track record,” Group CEO Pratik Agarwal said in the statement.
Sterlite Power is a global developer of power transmission infrastructure with projects of over 10,000 circuit km and 15,000 MVA in India and Brazil.
Source: Mint