Sterlite JV's 2 transmission projects received bids from three companies
POWER & RENEWABLE ENERGY

Sterlite JV's 2 transmission projects received bids from three companies

Sterlite Power and its joint venture (JV) partner AMP Capital have received bids for their two power transmission assets from IndiGrid, Torrent Power, and Edelweiss Infrastructure Fund totaling between Rs 35 and 40 billion on an enterprise value basis. The two transmission projects will probably generate equity worth around 10 billion.

In order to create a platform, Sterlite Power and AMP Capital joined together in December 2020. They agreed to invest $300 million to create transmission assets worth roughly $1 billion. Lakadia Vadodara Transmission and Udupi-Kasargod Transmission, two assets from this JV platform with a total length of around 450 kilometres, have been placed on the market. More than 5,000 MW of renewable energy from Kutch and Bhuj in Gujarat will be transported to the national grid thanks to the Lakadia Vadodara line, which was just inaugurated. In the upcoming months, it's anticipated that the Udupi-Kasargode line would be put into service. Goa Tamnar Transmission and Mumbai Urja Marg Transmission are the other two projects included in this Partnership.

The sale process, which was started last year, had attracted attention from a number of financial investors and strategics. Three organisations—IndiGrid, Torrent Power, and Edelweiss Infra Fund—have submitted bids to Sterlite, and these bidders are currently conducting due diligence on the assets.

Also read:
NLC establishes green energy joint venture with Assam Discom
Government to fund green energy conversion of state-run refineries


Sterlite Power and its joint venture (JV) partner AMP Capital have received bids for their two power transmission assets from IndiGrid, Torrent Power, and Edelweiss Infrastructure Fund totaling between Rs 35 and 40 billion on an enterprise value basis. The two transmission projects will probably generate equity worth around 10 billion. In order to create a platform, Sterlite Power and AMP Capital joined together in December 2020. They agreed to invest $300 million to create transmission assets worth roughly $1 billion. Lakadia Vadodara Transmission and Udupi-Kasargod Transmission, two assets from this JV platform with a total length of around 450 kilometres, have been placed on the market. More than 5,000 MW of renewable energy from Kutch and Bhuj in Gujarat will be transported to the national grid thanks to the Lakadia Vadodara line, which was just inaugurated. In the upcoming months, it's anticipated that the Udupi-Kasargode line would be put into service. Goa Tamnar Transmission and Mumbai Urja Marg Transmission are the other two projects included in this Partnership. The sale process, which was started last year, had attracted attention from a number of financial investors and strategics. Three organisations—IndiGrid, Torrent Power, and Edelweiss Infra Fund—have submitted bids to Sterlite, and these bidders are currently conducting due diligence on the assets. Also read: NLC establishes green energy joint venture with Assam Discom Government to fund green energy conversion of state-run refineries

Next Story
Real Estate

Johnson Controls Tops Data Centre Thermal Management Rankings

Johnson Controls, the global leader for smart, healthy and sustainable buildings, has been named a top thermal management provider for data centres by ABI Research. The recognition highlights Johnson Controls’ excellence in innovation and implementation, driven by its comprehensive product portfolio, global presence, and customer-centric approach to the data centre thermal management industry.“Johnson Controls has consistently exceeded market expectations for thermal management across all industries and is a leading player in mission-critical infrastructure, like data centres, where reliab..

Next Story
Infrastructure Urban

Kerala Budget Focuses on Infrastructure with Key Projects

Despite financial constraints, the final budget of the second Pinarayi Vijayan government prioritises infrastructure development with key initiatives such as the Vizhinjam-Kollam-Punalur Growth Triangle (VKP-GT), expansion along the West Coast Canal and Coastal Highway, the Wayanad tunnel project, and the transformation of Vizhinjam into a major Export-Import hub. The Vizhinjam-Kollam-Punalur Growth Triangle will receive Rs 10 billion from the Kerala Infrastructure Investment Fund Board (KIIFB) to enhance transport corridors and establish multi-modal hubs, manufacturing parks, logistics c..

Next Story
Real Estate

Odisha Approves 225,000 Houses Under Antyodaya Gruha Yojana

The Odisha Cabinet, chaired by Chief Minister Mohan Charan Majhi, has approved the allocation of 225,000 pucca houses for weaker sections under the Antyodaya Gruha Yojana over the next three years, with a budget outlay of Rs 75.5 billion. Under the scheme, eligible families who have not benefited from existing housing programs will receive Rs 120,000 million in financial assistance to construct a 25-square-meter pucca house. The government has clarified that asbestos, tin, and tile-roofed structures will not be considered pucca houses, while cement-roofed homes with concrete walls will qu..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?