Sterlite Power has acquired Neemrana II Kotputli Transmission Limited, a Special Purpose Vehicle (SPV) from PFC Consulting Limited (PFCCL). PFCCL is a wholly owned subsidiary of Power Finance Corporation Limited (PFC), a Maharatna Public Sector Enterprise. The project was awarded to Sterlite Power through the Tariff Based Competitive Bidding (TBCB) process in November 2023. Through the Neemrana II Kotputli Transmission Limited SPV, the company will build this Green Energy project on a BOOT (Build, Own, Operate, Transfer) basis, for a period of 35 years.
This is Sterlite Power’s twentieth power transmission project in India under the TBCB process. With this project, Sterlite Power has ~INR 14,000 Crores of projects under management.
Speaking on the development, Pratik Agarwal, Managing Director, Sterlite Power, said, “Enabling part of 7.7 GW of green power flow, the Neemrana II Kotputli Transmission Limited project is another vital cog in the machine that will accelerate the nation’s transition to a sustainable future. These green energy evacuation projects are aligned with our core purpose to enable access to reliable power while minimizing the impact on climate change.”
Neemrana II Kotputli Transmission Limited will require development of two integral components: 1) 6000 MVA, 765/400kV substation at Neemrana, and 2) Two 400 kV transmission lines spanning ~ 250kms; connecting Neemrana with existing Kotputli substation, and another LILO corridor that will connect the Neemrana II with Gurgaon & Sohna substations through existing Gurgaon-Sohna line.
