Sterlite Power Transmission Limited (Sterlite Power), a private sector power transmission infrastructure developer and solutions provider, announced the acquisition of Nangalbibra ─ Bongaigaon Transmission Limited, a Special Purpose Vehicle (SPV) from PFC Consulting Limited.
Through this SPV, the Company will execute the inter-state transmission system (ISTS) project which it won through tariff-based competitive bidding (TBCB) in October 2021, according to the company’s statement.
The Project will transmit over 1000 MW of power from Assam to western parts of Meghalaya. Apart from bringing the additional power flow, the Project will also help in decongesting the downstream networks in the region, thereby improving the quality and reliability of power flow in North-East India.
Sterlite Power now has a portfolio of 27 projects across India and Brazil, which includes projects under various stages of development and those that have been sold.
Earlier this year, the Company had completed NER-II project spanning across the north-eastern states of Assam, Arunachal Pradesh, and Tripura. The Company is increasingly focused on integrating renewable energy sources to the transmission grids, it said.
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