Sterlite Power has successfully achieved financial closure for its Beawar Transmission Ltd (BTL) project.
In a release, Sterlite Power said that the project has secured funds totaling around Rs.2,400 crore from REC Power Development & Consultancy Ltd – a wholly owned subsidiary of REC Ltd.
This accomplishment follows within just four months of Sterlite Power acquiring the project, Sterlite Power said.
Important milestone
Commenting on the development, Pratik Agarwal, Managing Director, Sterlite Power said, “Financial closure is an important milestone in an infrastructure project’s lifecycle. Achieving this in a short span will help us in expediting the delivery of this critical project – an integral part of the larger Green Energy Corridor that will help evacuate around 20 GW of renewable energy.”
BTL overview
Sterlite Power acquired the BTL SPV in September 2023 to execute the interstate green energy transmission project on BOOT (build, own, operate, transfer) basis, for a period of 35 years. The project involves construction of a 350 km, 765kV transmission corridor that will connect the renewable energy zone at Fatehgarh III to a proposed substation at Beawar. The project will also include construction of 3,000 MVA 765/400kV substation at Beawar and two LILO lines covering approximately 120 km.
Also read: Sterlite Power Secures New Orders Worth Rs.1,400 Crore In Q3FY24
Featured photograph (source: Sterlite Power) is for representation only.