Sterlite Power bags new orders worth Rs. 2,000 Cr in Q2
Sterlite Power has secured a substantial surge in orders for its Global Products and Services (GPS) business during Q2 FY’24. The orders, totaling around Rs. 2,000 crores, signify a remarkable increase of Rs 700 crores as compared to Q1 FY24.
In the first half of the fiscal year, Sterlite Power has secured a cumulative total of Rs 3,300 crores in orders. These orders encompass high-performance, green products like conductors, OPGW, cables and specialized Engineering, Procurement, and Construction (EPC) services, from both domestic and international markets.
“The company’s robust performance reflects the global momentum in the transmission infrastructure components market, fueled by the ongoing wave of energy transition,” an official statement said.
In Q1, Sterlite Power secured an order to deliver high-performance conductors for Power Grid Corporation of India Ltd (PGCIL)’s Part E Green Energy Corridor Project in Rajasthan, that will aid renewable energy evacuation from the region. Internationally, the company is strengthening its presence in the Americas, European Union, Africa, and Middle East.
In the Power Cables business, the company acquired several strategic orders including delivery of Extra High Voltage (EHV) cables to a solar park in Rajasthan, multiple cable delivery projects for Uttar Pradesh Power Transmission Corporation Limited (UPPTCL) as well as the Nepal Electricity Authority. Amongst other significant wins, the company will supply medium voltage (MV) cables for the expansion of Indian Oil Corporation’s Panipat refinery – one of South Asia’s largest integrated petrochemical plants.
The company’s EPC arm bagged turnkey orders from UPPTCL for the fiberization of around 3,400 km of Optical Ground Wire (OPGW) for its 220kV & 132kV lines. It has also been entrusted with an order from PGCIL for uprating the 132kV North-Eastern Corridor with an aim of doubling the potential capacity of the existing corridor.
Commenting on the achievements, Manish Agarwal, CEO of Global Products & Services business, Sterlite Power stated, “We are thrilled to see our range of conductors, OPGW, cables and specialized services making a tangible impact in projects of national and international importance. To achieve the world’s and India’s net-zero ambitions, providing cutting-edge solutions is vital, and we are committed to doing so.”
