Sterlite Grid wins Rs 2,600-cr Odisha transmission project

The company has quoted the lowest annual tariff of Rs 140 cr for the project

Sterlite Grid has won the Rs 2,596 crore ‘Common Transmission System (II)’ Project for generation projects in Odisha. This is one of eight key power transmission projects put for rate-based competitive bidding, Adani Transmission and Essel Infra were among the ones in the race .

Of the six qualified companies, three, including state-owned Power Grid, pulled out of the bidding. The winning bid by Sterlite Grid at Rs 140 crore per annum, was 10 per cent lower than the nearest competitior .

The bid of Essel Infra was Rs 156 crore per annum and Adani Transmission put Rs 166 crore per annum.

Sterlite Grid is a wholly owned subsidiary of Pune-based Sterlite Technologies and the largest private operator of independent transmission systems in India.

The project is aimed at evacuating power from projects of the Odisha Power Generation Corporation with capacity of 1320 Mw.

This transmission line is part of the consortium of the eight corridors earmarked to be awarded through TBCB.

Totalling investment of close to Rs 26,000 crore.

Five transmission projects have been bid out already this year with Adani Transmission winning three in Chhatisgarh and Sterlite Grid, Power Grid and Kalptaru winning one each.

Union minister for power, coal and renewable energy Piyush Goyal said earlier this year that an opportunity worth Rs 1 lakh crore projects would be opened up for transmission sector during this year.