Sterlite Power on Monday said it has received a Rs 440-crore debt funding from Tata Cleantech Capital for its Nangalbibra Bongaigaon Transmission Ltd (NBTL) project.
The project involves construction of 300 ckt km ( circuit kilometers) of transmission lines and a new substation with 320 MVA transformation capacity across the north-eastern terrain of Assam and Meghalaya.
In a statement, Sterlite Power Transmission said "it has secured the entire debt funding of Rs 440 crore from Tata Cleantech Capital for the project. This financial closure is achieved within 2 months of the SPV (special purpose vehicle) acquisition of the project.”
Sterlite Power acquired NBTL SPV in December 2021 to execute the inter-state transmission system project.
The project will transmit over 1,000 MW of power from Assam to western parts of Meghalaya.
Apart from bringing additional power flow, it will also help in decongesting the downstream networks in the region, improving the quality and reliability of power flow in North-East.
"India’s power transmission sector is playing a critical role in the country’s transition to a net-zero carbon future. Our objective at Tata Cleantech Capital is to support and invest in green energy sectors and the long-term financing of this project is a step in that direction,” Manish Chourasia, Managing Director, Tata Cleantech Capital said.
Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with projects covering approximately 13,700 circuit kms of transmission lines across India and Brazil.
The company has a portfolio of high-performance power conductors, extra high voltage (EHV) cables and optical ground wires (OPGW).
The company provides bespoke solutions for the upgrade, uprate and fiberization of existing transmission infrastructure projects.
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