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Sterlite Power has achieved financial closure for its Lakadia Vadodara Transmission Project Ltd (LVTPL). The project has secured funds worth Rs 2,024 crore from IndusInd Bank and L&T Infrastructure Finance.
Commenting on the development, Anuraag Srivastava, Group CFO, Sterlite Power said, “This project is aligned to our country’s renewable energy target of 175 GW RE by 2022. As a leading global developer in power transmission, Sterlite Power aims to deliver and execute large scale renewable energy transmission projects across the country.”
Sterlite Power had won this project (WRSS 21 – Part B) through tariff-based competitive bidding (TBCB) process that connects the wind energy zones of Bhuj in Gujarat to the load centres in the States of Gujarat and Maharashtra. It involves laying of 330 km of 765 kV double-circuit transmission line to connect 765/400 kV Lakadia substation to Vadodara substation in Gujarat, in an aggressive time-frame of 18 months.
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