Sterlite Power acquires Beawar Transmission Limited Project from REC
Sterlite Power has disclosed its acquisition of Beawar Transmission Limited, a Special Purpose Vehicle (SPV), from REC Power Development and Consultancy Limited, a wholly-owned subsidiary of Rural Electricity Corporation. Sterlite Power was awarded the project through the Tariff Based Competitive Bidding (TBCB) process in August 2023.
The company will construct the Green Energy Corridor project through the Beawar Transmission Limited SPV on a BOOT (build, own, operate, transfer) basis, with a 35-year duration. This marks Sterlite Power’s nineteenth power transmission project in India under the TBCB process. The company now oversees projects worth approximately Rs. 12,000 crores.
Speaking on the development, Pratik Agarwal, Managing Director, Sterlite Power said, “Sterlite Power is constructing the green energy corridor to facilitate the transmission of 20 GW of renewable energy. We are dedicated to ensuring the timely completion of this essential infrastructure project while maintaining the highest standards of quality and safety.”
Beawar Transmission Limited will involve building three main parts:
1. A 350 km 765kV transmission corridor connecting Fatehgarh III’s renewable energy zone to the Beawar substation.
2. The construction of a 3000 MVA 765/400kV substation in Beawar.
3. The construction of two LILO lines spanning around 120 km.
Sterlite Power will become the country’s first private transmission infrastructure developer to employ a STATCOM.
In March 2023, Sterlite Power secured Part G Phase III of the Fatehgarh III Beawar Transmission Limited project. Upon finishing both Part F and G, this transmission line will rank among the country’s largest Green Energy Corridors.
