Sterlite Power Transmission Ltd said it will aggressively bid for business out of the Rs 70,000 crore transmission projects that are coming up for auction soon. These projects have been announced for the extraction of green energy from the generating stations.
Prateek Agarwal, MD, Sterlite Power Transmission Limited said that across the globe, power generation is shifting from fossil to non-fossil and this is giving rise to the need for a large transmission infrastructure in India and global markets.
“With India aiming to add 500 kW of RE (renewable) by 2030, there is a need for huge investments in the transmission sector, including the participation of private sector players in the business.”
He said the company will bid as many as possible out of the Rs 70,000 crore projects that have been announced.
Mr Agarwal said the company will raise ₹1,250 crore of fresh capital from its proposed IPO to fund its growth and capital expenditure plans.
“Our differentiated business model consists of two parts in which we are on the one hand owning and developing assets; Whereas the other aspect is either selling services or products to the transmission industry,” he said.
As a property owner, the company is focusing on India and Brazil, the two largest markets in the world that offer transmission lines based on BOT.
“We are undertaking projects worth about ₹9,000 crore in India and around ₹3,500 crore in Brazil,” said Mr. Agarwal, “In our solutions business, we manufacture products and supplies in over 40 countries, including several European countries. Huh.
India is one of the few countries that has opened up its transmission sector to private participation, and has garnered significant interest from private sector players such as Sterlite Transmission, Adani Transmission and KEC International.
Given that India will add 400 kW of renewable energy in the next nine years, which is equal to the country’s total installed capacity in the last 100 years, by 2030 India will need a similar transmission infrastructure that is equal to the total number of transmission lines . In the last 50 to 100 years, Mr. Agarwal said.
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