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Last Updated : Aug 09, 2019 05:35 PM IST | Source: PTI

Sterlite Power bags two transmission projects worth Rs 3000 crore

The company has already completed a wind energy evacuation project in Brazil earlier this year.

Representative Image
Representative Image

Power transmission player Sterlite Power on August 9 said it has bagged two contracts worth Rs 3,000 crore for setting up inter-state projects for Udupi- Kasargode and WRSS 21 (part B) involving lines and GIS substations.

With these two projects worth Rs 3,000 crore, Sterlite Power has increased its footprint of inter-state transmission projects across 22 states, the company said in a statement here.

The company has already completed a wind energy evacuation project in Brazil earlier this year.

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The Udupi-Kasargode project is required to decongest the ISTS transmission corridor and to facilitate smoother power flow within the southern region states of Karnataka to Kerala, while the Lakadia-Vadodara (WRSS 21 part B) located in Gujarat, will help connect the wind energy zones of Bhuj region to the load centers of Gujarat and Maharashtra.

Commenting on the development, the company's CEO Pratik Agarwal said, "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."

The government had approved transmission projects worth Rs 9,000 crore in nine packages under tariff-based competitive-bidding (TBCB) to be completed in 18 months to match the schedule of RE projects as renewable energy developers were facing constraints in evacuating power from projects coming up in Gujarat and Rajasthan.

The TBCB mechanism ensures timely project delivery at a pre-determined tariff transparently discovered through a competitive mechanism.

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First Published on Aug 9, 2019 05:25 pm
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