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The regulator is currently examining the allegations by Viceroy and has also sought relevant details from the company. The regulator’s website on October 27 showed that Sterlite’s public issuance has been kept in abeyance.
Sterlite Electric expects a turnover of about Rs 6,500 crore in FY26 and plans to double in the next three to four years by expanding into high-end cable manufacturing, Agarwal has said
As part of Sterlite Power’s demerger exercise, the Global Products and Solutions (GPS) business was hived out as an independent company in October 2024, a company statement said.
This takes the company's cumulative order wins in FY24 to Rs 7,000 crore, up 35 per cent year-on-year (YoY) over FY23, Sterlite Power said in a statement.
Via this arrangement, Sterlite Power will own the majority stake of 51 percent and GIC will own the remaining stake.
The project was made fully operational in January 2023, a statement said.
While transmission charges for renewable energy projects have been waived, infrastructure development costs persist, hindering the widespread adoption of renewable energy. Pratik Agarwal shares his expectations from Budget 2024.
Sterlite Power is the sponsor of India's first power sector InvIT, India Grid Trust (IndiGrid) which is listed. In September 2022, the firm announced that it had withdrawn its DRHP and deferred its listing plans due to unfavourable market conditions.
The project will involve constructing a 350 kilometre, 765kV transmission corridor from Fatehgarh III to Beawar in Rajasthan.
Since its foray in Brazil in 2017, Sterlite Power has built a significant footprint in the country, acquiring 13 projects through greenfield global auction process.
The set of orders, won across domestic and international markets, have strengthened the company's solutions business unit's order book to Rs 5,200 crore during FY23, Sterlite Power said in a statement.
The aerial operations will involve the movement of around 3,000 metric tonnes of various materials over a period of two months.
This latest investment builds on the $400 million investment from KKR in November 2022.
The project was bid out through tariff-based competitive bidding (TBCB) process, a company statement said. Sterlite Power received the Letter of Intent (LoI) from PFC Consulting Ltd to build the project on BOOT (build, own, operate, transfer) basis, for a period of 35 years.
The project aims to deliver more than 5,000 MW of power from renewable rich regions of Bhuj and Kutch to the national grid, a step towards accelerating India's transition towards a greener economy, a statement said.
In an exclusive interview with Moneycontrol, the managing director of Sterlite Power Transmission said the recurring power crisis in India is actually a crisis of the last mile. Agarwal also said cost escalation to build transmission network for renewable energy will be offset by the overall low cost of RE compared to electricity from conventional sources.
"Transmission is one of the biggest challenges in India’s 500 GW renewable energy target. India’s power crisis is a crisis of last mile," says Sterlite Power MD Pratik Agarwal in an exclusive interview to Moneycontrol. He also speaks about why he thinks India's power crisis is a crisis of last mile and that deregulation of the coal business will show positive results. Watch!
The orders were bagged by the 'solutions' business unit in the domestic and international markets during the first three quarters FY23, showing a growth of 90 per cent growth compared to the same period of FY22, a company statement said.
The project involves construction of a transmission system comprising a 400/132kV GIS sub-station at Kishtwar and a 400 kV transmission line from Kishenpur to Dulhasti.
Kishtwar Transmission Limited, a Special Purpose Vehicle (SPV) from PFC Consulting Limited (PFCCL), was awarded to Sterlite Power through tariff based competitive bidding process
Pratik Agarwal, Managing Director of Sterlite Power, said that given the volatility in the current markets and the limited window available under the currently filed DRHP, it has been decided to withdraw the DRHP.
Serentica Renewables is 100% owned by Twinstar Overseas Ltd, run by Volcan Investments Ltd, Bahamas, the holding company of the family trust of billionaire Anil Agarwal.
Located in states of Bahia and Sergipe in Brazil, one of the projects will focus on developing a 113-km long transmission line and 300 MVA transmission capacity for Sergipe.
The project has been awarded to Sterlite Power through a tariff-based competitive bidding process (TBCB), a company statement said.
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.
