Sterlite Power and Singapore based global investment firm GIC have disclosed a collaborative effort to establish a power transmission platform in India. The joint venture (JV) platform will be strategically positioned to capitalise on the emerging opportunities stemming from the Government of India’s announcement of over $13 billion in capital expenditure needs. Sterlite Power will possess the majority share of 51 per cent, with GIC holding the remaining 49 per cent stake.
This partnership reflects international trust in India’s developmental outlook. Partnering up with GIC positions Sterlite Power to take a leading position in India’s transmission industry, commencing with the USD 13 billion bid pipeline.
In December 2023, Sterlite Power had been awarded the contract for the transmission project in Rajasthan’s renewable energy zone, phase IV (Bikaner complex).
In September 2023, Sterlite Power announced the acquisition of Beawer Transmission Limited for setting up clean energy transmission project in Rajasthan.
