Sterlite Power secures $165.2m funding for transmission project

Power Finance Corporation will provide the funding.

Power transmission firm Sterlite Power reached a financial close worth $165.2m (INR1,373 crore) from Power Finance Corporation for the development of the Neemrana II Kotputli Transmission Limited (NKTL) project.

In a statement, Sterlite Power said the project has two critical development components. First is the 6,000 megavolt ampere, 765/400-kilovolt substation at Neemrana, whilst the second component is the 400 kV transmission line network of around 250 kilometres.

“This network will establish vital interconnections, linking the Neemrana substation to the existing Kotputli substation, while also facilitating a LILO (Line-In Line-Out) that will seamlessly integrate the Neemrana II substation with the Gurgaon and Sohna substations through the existing Gurgaon-Sohna line,” the company.

Sterlite Power acquired the NKTL special purpose vehicle in November 2023 for the execution of the green energy corridor on a build, own, operate and transfer basis for 35 years.

$1 = INR83.11