Sterlite Power Secures ₹1,373 Crore Funding from PFC for Transmission Project

Sterlite Power announced on Thursday that it has successfully achieved financial closure for its Neemrana II Kotputli Transmission (NKTL) project, securing ₹1,373 crore in funding from Power Finance Corporation (PFC).

"We are pleased to conclude the financial deal for one of our largest green energy corridor (GEC) projects with one of India’s most reputed financial institutions in the power sector – PFC. This deal is a show of trust by PFC in our capability to deliver some of the most challenging and impactful transmission projects in the country," said Raji George, Director of Corporate Finance at Sterlite Power.

Sterlite Power acquired the Neemrana II Kotputli Transmission SPV in November 2023 to execute the green energy corridor on a Build, Own, Operate, and Transfer (BOOT) basis for a period of 35 years. The project involves the development of a state-of-the-art 6000 MVA, 765/400kV substation at Neemrana and a 400 kV transmission line network spanning approximately 250 km. This network will establish crucial interconnections, linking the Neemrana substation to the existing Kotputli substation and facilitating a Line-In Line-Out (LILO) integration with the Gurgaon and Sohna substations through the existing Gurgaon-Sohna line.

In February 2024, Sterlite Power also secured funding for the Beawar Transmission project from REC Power Development and Consultancy, a wholly owned subsidiary of REC.

HBL