Sterlite Power is looking at renewable energy transmission projects valued at 70,000 crores (over $9.2 million)

Sterlite Power is looking at renewable energy transmission projects valued at 70,000 crores (over $9.2 million)

Sterlite Power Transmission Limited said it would vigorously bid for business from 70,000 crores (about $9.2 million) worth of transmission projects that would be auctioned soon. These programs have been announced as a means of removing green energy from power plants. Power generation is shifting away from fossil fuels and toward non-fossil fuels around the world, resulting in high demand for transmission infrastructure in India and globally. Sterlite Power Transmission Ltd’s MD, Pratik Agarwal, stated.

“With India expecting to add 500 GW of renewable energy by 2030, massive investments in the transmission sector are required, including private sector participation.” He stated that the firm would bid on as many projects as feasible worth 70,000 crores (about $9.2 million) as possible.

Mr. Agarwal stated that the company’s anticipated IPO would raise fresh capital of Rs. 1,250 crores to fuel its growth as well as capital expenditure goals. “Our differentiated business model consists of two parts: asset ownership and development on the one hand, and providing products or services to the transmission sector on the other,” he explained.

As an asset owner, the business is concentrating on Brazil and India, which are the world’s two major markets for BOT transmission lines. “In our solutions business, we make items and supply to more than 40 nations, including many European countries,” Mr. Agarwal says.

India is among the few countries that have allowed private sector engagement in its transmission industry, and it has sparked major interest from companies like Adani Transmission, Sterlite Transmission, and KEC International.

Given that India will insert 400 GW of the renewable energy in the coming nine years, that is equal to the country’s total installed capacity over the previous 100 years, Mr. Agarwal estimates that by 2030, India will necessitate an equivalent transmission network equal to the overall transmission lines built over the previous 50 to 100 years.

Sterlite Power is a global leader in integrated power transmission development and solutions, focusing on handling difficult challenges in the industry by overcoming critical restrictions such as time, space, and cash. They bid, design, construct, own, and manage power transmission assets across many geographies under their Global Infrastructure Business. They have a track record of completing projects ahead of schedule, meeting the key constraint of time, thanks to their skill in project execution and knowledge with cutting-edge technology.

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