Sterlite Power bags 2 projects worth over Rs 3,000 cr

Sterlite Power on Friday said it has won two inter-state power transmission projects worth over Rs 3,000 crore.

One of the projects bagged by the company is the Udupi-Kasargode project which will decongest the ISTS (Inter State Transmission System) corridor and facilitate smoother power flow within Karnataka and Kerala, Sterlite Power said in a statement.

The other win is the GEC project of Lakadia-Vadodara (WRSS 21-Part B) in Gujarat. The project will help connect the wind energy zones of Bhuj region to the load centres of Gujarat and Maharashtra.

With these wins, Sterlite Power adds renewable transmission to its portfolio in India.

"These projects awarded through competitive bidding have secured much lower tariff than the cost-plus tariff estimate and thus play a crucial role in enabling access to affordable power envisioned by the government," Pratik Agarwal, Group CEO, Sterlite Power said.

The Udupi project consists of 400 KV transmission line (120 km) from Udupi in Karnataka to Kasaragode in Kerala along with a 400 KV GIS substation.

The second project (WRSS-21 Part B) involves laying of 325 km of 765 KV transmission line from 765/400 KV Lakadia Substation to Vadodara in Gujarat.

Sterlite Power is a developer of power transmission infrastructure with projects of over 13,315 circuit kms and 23,885 MVA in India and Brazil.