Sterlite Power Raises Rs.1373 Cr From PFC

Sterlite Power, a leading power transmission company, has secured funding for its Neemrana II Kotputli Transmission Limited (NKTL) project. The project has obtained funds totaling Rs.1373 crore from the Power Finance Corporation (PFC), a Maharatna Public Sector Enterprise known for its critical role in the power sector. 

The NKTL Project

Sterlite Power acquired the Neemrana II Kotputli Transmission Special Purpose Vehicle (SPV) in November 2023. The project is set to be developed on a Build, Own, Operate, and Transfer (BOOT) basis for a duration of 35 years. The NKTL project involves two critical components: the construction of a state-of-the-art 6000 MVA, 765/400kV substation at Neemrana, and the development of a 400 kV transmission line network extending approximately 250 kilometers.

Key Developments

The transmission network is set to establish interconnections by linking the Neemrana substation with the existing Kotputli substation. Additionally, a Line-In Line-Out (LILO) will integrate the Neemrana II substation with the Gurgaon and Sohna substations via the current Gurgaon-Sohna line. This infrastructure is crucial to enhance the power transmission capacity and reliability in the region.

PFC’s Endorsement

Commenting on the financial closure, Sterlite Power stated that they are pleased to conclude this significant financial deal with PFC, one of India’s largest and most reputable financial institutions in the power sector. Additionally, this deal is a testament to PFC’s trust in Sterlite Power’s capability to deliver impactful transmission projects in the country.

Sterlite Power’s Track Record

Sterlite Power has a strong history of achieving deals for its projects. Earlier in February 2024, the company secured funding for the Beawar Transmission project from REC Power Development and Consultancy Limited. This continuous support and investment from the banking and investor community highlights the trust in Sterlite Power’s project execution capacity.

Conclusion

The successful closure of the NKTL project deal marks a significant milestone for Sterlite Power, further reinforcing its position as a key player in the power transmission sector. With substantial backing from PFC, the project is set to strengthen the region’s power infrastructure, ensuring reliable and efficient power transmission. 

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