Sterlite Power Transmission Ltd. said it would aggressively bid for business among the transmission projects worth 70,000 crore which will soon be auctioned. These projects were announced for the evacuation of green energy from production centers.
Power generation around the world is shifting from fossil to non-fossil, resulting in a significant need for transmission infrastructure in India and global markets, said Pratik Agarwal, MD, Sterlite Power Transmission Ltd.
“With India aiming to add 500 KW of renewable energy (renewables) by 2030, huge investments are needed in the transmission sector, including the participation of private sector actors in the business. “
He said the company would bid as much as possible on the 70,000 crore of announced projects.
Mr Agarwal said the company will raise new capital of 1,250 crore from its proposed IPO to fund its growth and capital spending plans.
“Our differentiated business model has two parts in which we take care of the ownership and development of assets on the one hand; while the second aspect is either to sell services or products to the transmission industry, ”he said.
As an asset owner, the company focuses on India and Brazil, which are the two largest markets in the world offering transmission lines on a BOT basis.
“We are carrying out around 9,000 crore of projects in India and around 3,500 crore of projects in Brazil,” added Mr. Agarwal.
India is one of the few countries to have opened its transmission sector to private participation, and it has generated significant interest from private sector actors such as Sterlite Transmission, Adani Transmission and KEC International, among others.
Considering that India will add 400 KW of renewable energy over the next 9 years, which equals the total installed capacity of the country over the past 100 years, by 2030 India will need infrastructure of equivalent transmission which is again equal to the total number of transmission lines. put in place over the past 50 to 100 years, Mr. Agarwal said.