Sterlite Power, a prominent player in the power transmission conductors and cables industry, has successfully raised INR 725 crore in a primary fundraising round led by GEF Capital Partners and ENAM Holdings. This marks the first significant capital infusion into Sterlite Power’s Global Products and Solutions (GPS) business following its demerger in October 2024.
The GPS business, now an independent entity, will leverage the funds to accelerate its growth trajectory through strategic initiatives such as enhancing production capabilities, developing innovative products, and expanding its footprint in key international markets. The investment underscores Sterlite Power’s commitment to driving modernisation in the power transmission sector, aligning with the global transition to clean energy.
In H1 FY25, the GPS business secured orders worth INR 2,715 crore, demonstrating its robust market presence. As of November 2024, the open order book stood at INR 6,700 crore, reflecting strong demand in both domestic and international markets.
Pratik Agarwal, Managing Director of Sterlite Power Transmission Limited, commented, “Securing this funding marks a significant milestone for Sterlite Power’s GPS business. This investment will significantly bolster our ability to deliver cutting-edge solutions and advanced technology to the market. With this fundraise, we will be better equipped to deliver innovative, reliable power solutions that support the energy transition and meet the growing demand for clean energy across India and the world.”
Alipt Sharma, Partner at GEF Capital Partners LLC, emphasised the importance of Sterlite Power’s role in decarbonising transmission networks. “Decarbonising transmission networks is a key part of the transition to a low-carbon economy. The growth of renewable energy necessitates modernisation and upgradation of transmission networks. We are excited to partner with Sterlite Power and support their portfolio of efficient and reliable products that will catalyse efficiency in power transmission,” he said.
The demerger of Sterlite Power Transmission Limited (SPTL) has resulted in the formation of two distinct entities. The restructured SPTL will focus on power capital goods, including cables, conductors, and specialised services, while the newly formed Sterlite Grid 5 Limited (SGL5) will manage the transmission concessions business. Each SPTL shareholder has received shares in SGL5 in a 1:1 ratio, setting the stage for focused growth across these verticals.
For over three decades, Sterlite Power has been a leader in delivering reliable power transmission solutions globally. Its diverse product portfolio includes High-Performance Conductors, Optical Ground Wire, and HV/EHV Power Cables, designed to meet the evolving needs of the energy sector. The company’s specialised Engineering, Procurement, and Construction (EPC) services further enhance transmission capacity through innovative uprate and upgrade solutions.
