STOCK MARKET BSE NSE

Sterlite Power secures Rs 580 cr funding for Udupi-Kasargode Transmission Project

The Inter-State Transmission System project spanning across the southern states of Karnataka and Kerala.

Published: 16th June 2021 04:54 PM  |   Last Updated: 16th June 2021 04:54 PM   |  A+A-

Electricity

For representational purposes

By PTI

NEW DELHI: Sterlite Power on Wednesday said it has secured funding worth Rs 580 crore from REC Ltd for its Udupi Kasargode Transmission Project.

In a statement, the company said it has completed the successful financial closure of the project set up by Udupi-Kasargode Transmission Project Ltd (UKTL).

The Inter-State Transmission System project spanning across the southern states of Karnataka and Kerala.

It is made up of two critical elements, including a 1000 MVA 400/220 kV Gas Insulated Substation (GIS), one of the first GIS substations to be built at Kasargode, as per the statement.

In accordance with the Letter of Award received from RECTPCL (REC Transmission Projects Company Ltd), the project involves construction of a 400kV (Quad) D/c transmission line, extending over 240 ckm (circuit km), from Udupi in Karnataka to Kasaragode in Kerala.

The scope of the project also includes supply and installation of two 400 kV line bays and bus bar extension at Udupi switchyard.

Anuraag Srivastava, Group CFO of Sterlite Power said the company was pleased to secure funding from REC.

Recently, the company announced an equal partnership with global investment manager AMP Capital to develop greenfield power transmission projects in India, including the UKTL project.

In March 2021, Sterlite Power successfully completed its transmission project NER-II and subsequently sold it to IndiGrid.

Sterlite Power is a leading developer of power transmission infrastructure.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp