Sterlite Power, a prominent power transmission developer and solutions provider in India and Brazil, has achieved another significant milestone by acquiring the Fatehgarh III Beawar Transmission Limited, a Special Purpose Vehicle (SPV) from PFC Consulting Limited (PFCCL). The project was awarded through the Tariff Based Competitive Bidding (TBCB) process in March 2023 and is poised to play a pivotal role in India’s renewable energy vision.
The project involves the construction of a 350km, 765kV transmission corridor stretching from Fatehgarh III to Beawar in Rajasthan. This crucial transmission network will facilitate the 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.
By taking over the Fatehgarh III Beawar Transmission Project, Sterlite Power will undertake the responsibility of building, owning, operating, and transferring the project for a substantial period of 35 years. This endeavour exemplifies the company’s dedication to supporting India’s ambitious renewable energy target of 500 GW by 2030.
Pratik Agarwal, the Managing Director of Sterlite Power, expressed his enthusiasm for the project and highlighted its significance in the nation’s development. He said, “The development of green energy corridors is a critical part of India’s nation-building effort. These corridors will help India achieve its renewable energy vision of 500 GW by 2030. With our unique capabilities and expertise, Sterlite Power is committed to contributing to this mega effort.”
The Fatehgarh III Beawar Transmission Project is the 18th power transmission project undertaken by Sterlite Power in India under the Tariff-Based Competitive Bidding (TBCB) mode. This acquisition further cements Sterlite Power’s position as a leading player in the Indian power transmission sector.
