Sterlite gets letter of intent for Odisha project

Sterlite Grid has received a letter of intent for commissioning power evacuation infrastructure in Odisha built with a capital expenditure of Rs 1,250 crore for local power projects.

“Sterlite Grid emerged as the lowest bidder for the power transmission project in Odisha with a levelised annual tariff rate of Rs 139.8 crore,” Sterlite Technologies said.

The firms said bids were invited by PFC Consulting to develop transmission systems for Odisha-based power projects named as “for common transmission system for phase-II generation projects in Odisha and immediate evacuation system for Odisha Power Generation Corporation Project in Odisha”. “The transmission lines will form a part of interstate transmission network, providing additional evacuation up to 5,000 Mw of electricity from Odisha-based plants that are seeking better access to the power consuming centres.”

Sterlite Grid will Build, Own, Operate & Maintain approx 300 km of 765 kV Double    Circuit system strengthening line from Jharsugda to Raipur and approx 50 km of 400 kV Double Circuit line between OPGC Power Project & Jharsugda with approximate capital expenditure of Rs 1,250 crore, the company said.

"We will execute this project on fast track to help country's vision of uninterrupted    power supply for all. We are confident that our talented team coupled with cutting edge technology will create a robust power evacuation network in record time," Sterlite Power    Grid Ventures Ltd Chairman Pravin Agarwal said.

The company added that this is eighth project won by it under the Tariff Based Competitive Bidding mechanism.

"With this project, Sterlite Grid's portfolio includes 23 Extra High Voltage (EHV) transmission lines and three substations with nearly 6,000 Circuit Km. This project will further strengthen company's position as the largest private developer of independent transmission systems," it added.