Sterlite Power receives $3 billion for Kishtwar transmission project

Sterlite Power has secured debt funding of 3.05 billion from Aseem Infrastructure Finance, a non-banking infrastructure finance company, for its Kishtwar transmission project in Jammu and Kashmir (J&K). Sterlite Power recently acquired the Kishtwar transmission project for execution of the inter-state transmission system project in December 2022. The project entails the construction of a transmission system that includes a 400/132 kV gas-insulated substation in the J&K district of Kishtwar and a 400 kV transmission line from Kishenpur village in the Samba district to the Dulhasti power project.

The transmission system will help transmit 1 GW of power from the Pakaldul Hydroelectric project to the Kishtwar substation. Apart from bringing additional power flow, it will also help decongest the region’s downstream networks, improve the quality and reliability of power flow in Kashmir valley.

In December 2022, Sterlite Power announced the acquisition of Kishtwar Transmission Limited, a special purpose vehicle from the Power Finance Corporation (PFC) arm PFC Consulting. The project was awarded to Sterlite Power in March 2022 through tariff-based competitive bidding. The company will build, own, operate, and maintain a critical transmission project in Jammu and Kashmir (J&K) for 35 years through Kishtwar.

The company currently has 30 completed and under-construction projects totaling 14,602 circuit kilometres of transmission lines in India and Brazil. High-performance power conductors, extra-high voltage cables, and optical ground wires are all part of the portfolio.

In September 2022, Sterlite Power’s Mumbai Urja Marg Transmission (MUML) completed the construction of a 400 kV transmission line in Gujarat’s regions of Banaskantha, Kansari, and Vadavi. The transmission line is part of a larger western region strengthening program that includes 318 circuit kilometres (ckm) of lines and 1,000 MVA of transformation capacity deployed in three parts.