Sterlite Power Acquires Neemrana II Kotputli Transmission Limited from PFC

Sterlite Power has recently announced the acquisition of Neemrana II Kotputli Transmission Limited from PFC Consulting Limited.

Dec 28, 2023

Sterlite Power, a leading power transmission developer and solutions provider in India and Brazil, announced the acquisition of 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 35 years. This is Sterlite Power’s twentieth power transmission project in India under the TBCB process. With this project, Sterlite Power has approximately INR 14,000 crore of projects under management.

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Mr. 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.”

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Neemrana II Kotputli Transmission Limited will require the development of two integral components; 6000 MVA, 765/400kV substation at Neemrana, and two 400 kV transmission lines spanning approximately 250 kms; connecting Neemrana with the existing Kotputli substation, and another LILO corridor that will connect the Neemrana II with Gurgaon & Sohna substations through existing Gurgaon-Sohna line. This project win adds to the overall green energy portfolio of the company taking the total projects under management tally to 9.