Sterlite Power secures new orders worth Rs.1,300 crore in Q1 of FY24
- October 10, 2023
Sterlite Power, in Q1 of FY24, has bagged orders worth Rs.1,300 crore across its Global Products & Services business that caters to high performance, green products and specialized EPC services, a company release said.
The new set of orders, won across the domestic and international market in Q1 of FY24 (April to June 2023), builds on the total order book of over Rs.5,200 crore, that the business has garnered in the last financial year.
High performance conductors
With an increasing focus on integrating renewable energy into the grid, the power sector in India is witnessing a surge in demand for high performance products and specialized EPC services. The Global Products business is leveraging the buoyancy in the sector by securing significant orders in both domestic and international markets. In Q1, it secured a substantial order to deliver high-performance conductors for Power Grid Corporation of India Ltd (PGCIL)’s Part E Green Energy Corridor Project in Rajasthan, that will aid renewable energy evacuation from the region. Through new order acquisitions, the company continues to cement its position in international regions like Americas, European Union, Africa, and Middle East.
Manish Agarwal, CEO, Global Products & Services, said, “We are excited about our role in accelerating the global energy transition. Our strong order book is a testament to the confidence that our customers have in our capabilities and expertise. We expect a robust order booking for all our products in Q2 as well.”
EHV cables
In the Power Cables business, the company acquired several strategic orders including delivery of Extra High Voltage (EHV) cables to a solar park in Rajasthan, multiple cable delivery projects for Uttar Pradesh Power Transmission Corporation Limited (UPPTCL) as well as the Nepal Electricity Authority. Amongst other significant wins, the company will supply medium voltage (MV) cables for the expansion of Indian Oil Corporation’s Panipat refinery – one of South Asia’s largest integrated petrochemical plants.
OPGW & Uprating
The company’s specialized EPC arm bagged turnkey orders from UPPTCL for the fiberization of around 3,400 km of Optical Ground Wire (OPGW) for its 220kV and 132kV lines. It has also been entrusted with an order from PGCIL for uprating the 132kV North-Eastern Corridor with an aim of doubling the potential capacity of the existing corridor. This order is also in addition to the existing portfolio of projects that Sterlite Power is delivering for PGCIL, towards decongesting the critical transmission corridors across the country.
Also See: Sterlite Power secures new orders worth Rs.1,400 crore in Q4 of FY23
Featured photograph (source: Sterlite Power) is for representation only.
