Sterlite Power acquires the Green Energy Transmission Corridor project
Completes acquisition of Lakadia – Vadodara Transmission Project from PFC Consulting
Sterlite Power, a leading global player in power transmission, has acquired its inter-state GEC transmission project, Lakadia-Vadodara Transmission Project (LVTPL), from PFC Consulting. The company had won this project (WRSS 21 – Part B) through tariff-based competitive bidding process and would execute it under the Build, Own, Operate and Maintain (BOOM) model for 35 years in the state of Gujarat.
The project is aligned to enable the country’s renewable energy target of installing 175 GW RE by 2022 and connects the wind energy zones of Bhuj in Gujarat to the load centres in Gujarat and Maharashtra. The project involves laying 350 kms of 765 kV double-circuit transmission line connecting 765/400 kV Lakadia substation to Vadodara substation in Gujarat, in an aggressive timeframe of 18 months.
Commenting on the project acquisition, Pratik Agarwal, MD, Sterlite Power, said, “This is another resounding success for Sterlite Power. We are proud to be part of this energy-transition journey of the country and are fully geared to contribute to it with this and more such projects.”
With the acquisition of this project, the company has increased its domestic footprint in inter-state transmission projects to 22 states with a cumulative transmission line network of more than 9000 ckms and 16,000 MVA transformation capacity. This marks the 14th addition to our domestic project portfolio. The company has a strong presence in Brazil with a portfolio of 10 transmission projects.