Developer of power transmission Sterlite Power announced that it has successfully purchased PFC Consulting Limited's (PFCCL) special purpose vehicle (SPV), Fatehgarh III Beawar Transmission Limited. PFCCL is a fully owned subsidiary of Maharatna Company Power Finance Corporation Limited (PFC).
In March 2023, Sterlite Power received the project in a tariff-based competitive bidding (TBCB) process. A crucial gearbox project in Rajasthan will be built, owned, operated, and transferred to Sterlite Power under the terms of this acquisition for a considerable 35-year period.
A 350 km, 765 kV transmission link from Rajasthan's Fatehgarh III to Beawar will be built as part of the project. According to a press statement from the firm, "it will enable evacuation of a portion of 20 GW of renewable power from Renewable Energy Zones in Fatehgarh (9.1 GW), Bhadla (8 GW), and Ramgarh (2.9 GW) areas of the state."
"The development of green energy corridors is a critical part of India's nation-building effort," said Pratik Agarwal, managing director of Sterlite Power. These corridors will assist India in achieving its goal of 500 GW of renewable energy by 2030. Sterlite Power is dedicated to supporting this enormous effort with our special skills and capabilities. This would be the 18th power transmission project for Sterlite Power in India using the TBCB method.
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