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					</table><p>REC Power Development and Consultancy (<a href="https://www.recpdcl.in/" target="_blank" rel="noopener">RECPDCL</a>) handed over Khavda IV C Power Transmission to <a href="https://www.sterlitepower.com/" target="_blank" rel="noopener">Sterlite Grid 38</a> to evacuate 7 GW of renewable energy from the Khavda Renewable Energy Park in Gujarat.</p>
<p>Sterlite Grid 38, a subsidiary of Sterlite Power, won the project in the tariff-based competitive bidding process. It will commission the project in the next 24 months on a build, own, operate, and transfer basis and maintain it for 35 years.</p>
<p>The work involves the establishment of 4&#215;1500 MVA, 765/400 kV and 2&#215;500 MVA, 400/220 kV Boisar-II (GIS) S/s with 2&#215;330 MVAR, 765 kV bus reactors and 2&#215;125 MVAR, 420 kV bus reactors.</p>
<p>The scope of the work covers establishing, operationalizing, and maintaining the project and completion of all the activities for the project, including survey, detailed project report formulation, arranging finance, project management, necessary consents, clearances and permits, land compensation, design, engineering, equipment, material, construction, erection, testing, and commissioning.</p>
<p>The Phase-IV (Part A to E) transmission program has been planned to enable the evacuation of an additional 7 GW (beyond 15 GW) renewable energy from the Khavda RE park.</p>
<p>The scope of work also includes setting up a STATCOM station at Boisar-I and Navsari, offering a safe and stable system to balance sudden power imbalances.</p>
<p>RECPDCL had <a href="https://www.mercomindia.com/g-r-infra-acquires-1-5-gw-tumkur-renewable-energy-transmission-project" target="_blank" rel="noopener">handed</a> over Tumkur-II REZ Power Transmission to G R Infraprojects (GRIL) to evacuate 1.5 GW of power from the Tumkur Renewable Energy Zone in Karnataka.</p>
<p>Recently, Adani Energy Solutions <a href="https://www.mercomindia.com/adani-energy-bags-transmission-project-to-evacuate-7-gw-of-renewable-energy" target="_blank" rel="noopener">bagged</a> Khavda IV A Power Transmission to evacuate 7 GW of renewable energy from the Khavda Renewable Energy Park.</p>
<p>In August 2024, RECPDCL <a href="https://www.mercomindia.com/pgcil-bags-bhadla-transmission-project" target="_blank" rel="noopener">handed</a> over Bhadla-III Power Transmission to Power Grid Corporation of India. The project involves developing an additional 20 GW transmission system for the evacuation of power from Bhadla-III PS as part of the Rajasthan Renewable Energy Zone Phase-III.</p>


Sterlite Bags Khavda Project to Evacuate 7 GW Renewable Energy


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					</table><p><a href="https://mercomindia.com/msmes-solar-savings-power-bills-cover-emi-cost-interview/" target="_blank" rel="noopener"><strong>Small businesses are open to adopting rooftop solar if loan repayment is not an additional burden and is equal to their savings on electricity bills. Entities in the commercial and industrial</strong></a> segment are increasingly moving towards renewable energy options, including rooftop solar, given the immense benefits they bring in terms of cost savings and reputation as sustainable companies. Vikas Agarwal, the co-founder of non-banking financial company Credit Fair, said in an interview with Mercom India that there is an uptick in rooftop installations in the residential segment after the Union government launched a national portal for rooftop solar to submit applications.</p>
<p><a href="https://mercomindia.com/sterlite-ists-project-evacuate-20-gw-renewables-rajasthan/" target="_blank" rel="noopener"><strong>Sterlite Power has bagged an interstate transmission system project for the evacuation of 20 GW of power from renewable energy zones in Rajasthan under Phase III, Part-G.</strong></a> The company participated in tariff-based competitive bidding and was awarded the letter of intent by PFC Consulting, a wholly-owned subsidiary of Power Finance Corporation, to build the project on a build, own, operate, and transfer basis for 35 years. The project comprises the construction of a 765 kV transmission corridor which will be laid across a 350 km stretch from Fatehgarh III to Beawar in the Ajmer district.</p>
<p><a href="https://mercomindia.com/gujarat-bids-500-mw-wind-power-greenshoe-option/" target="_blank" rel="noopener"><strong>Gujarat Urja Vikas Nigam (GUVNL) has invited bids to procure power from 500 MW of grid-connected wind projects (Phase V) with a greenshoe option</strong></a> of an additional capacity of up to 500 MW. The last day to submit the bids online is April 11, 2023. Bids will be opened on April 17. GUVNL will enter into a PPA with successful bidders for 25 years from the scheduled commercial operation date of the project or the date of full commissioning of the project, whichever is earlier.</p>
<p><a href="https://mercomindia.com/green-hydrogen-india-save-%e2%82%b91-trillion-fuel-imports-2030/" target="_blank" rel="noopener"><strong>Union Minister of Renewable Energy and Power R. K. Singh informed the Rajya Sabha that the government aims to reduce a total of ₹1 trillion (~$12 billion) worth of fossil fuel imports</strong></a> by 2030, following the targets set under the National Green Hydrogen mission. The minister said nearly 50 million metric tons of carbon emissions are likely to be mitigated through the production and use of green hydrogen.</p>
<p><a href="https://mercomindia.com/europe-plans-clean-energy-raw-materials-access/" target="_blank" rel="noopener"><strong>The European Union has unveiled two key initiatives to make the transition to clean energy and ensure it has access to critical raw materials to make the switch.</strong></a> The measures are expected to enable the bloc to counter the competition from the United States and China on the clean energy front. The first of these initiatives announced by European Commission President von der Leyen as part of the Green Deal Industrial Plan is the proposed Net-Zero Industry Act that promotes the scaling up of clean technology manufacturing.</p>
<p><a href="https://mercomindia.com/researchers-show-tandem-perovskite-solar-cell/" target="_blank" rel="noopener"><strong>Italy-based renewable energy company Enel Green Power, researchers at the National Solar Energy Institute, and the French Alternative Energies and Atomic Energy Commission</strong></a> claimed to have achieved a power conversion efficiency of 26.5% for a 2-terminal tandem perovskite solar cell. The improved efficiency in the collaborative research was obtained for a PIN architecture cell in the device with an active area of 9 cm² and an open-circuit voltage of over 1,880 Mv, with shading correction.</p>
<p><strong><a href="https://mercomindia.com/researchers-perovskite-solar-cells-saves-input-energy/" target="_blank" rel="noopener">Researchers at Helmholtz-Zentrum Berlin have found that solar cells made of metal halide perovskites achieve high efficiencies and can be produced from liquid inks</a></strong> with little energy input. Metal halide perovskites are a particularly inexpensive and promising material class for next-generation solar modules. Perovskite solar cells can be fabricated using coating processes that use liquid inks made from precursor materials and various solvents. After the coating, the solvents evaporate, and the perovskites crystallize into a homogeneous layer.</p>


Daily News Wrap-Up: Cost Savings Help MSMEs Move Toward Rooftop Solar


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					</table><p><a href="https://www.sterlitepower.com/" target="_blank" rel="noopener">Sterlite Power</a> has bagged an interstate transmission system (ISTS) project for the evacuation of 20 GW of power from renewable energy zones in Rajasthan under Phase III, Part-G.</p>
<p>The company participated in tariff-based competitive bidding and was awarded the letter of intent by PFC Consulting, a wholly-owned subsidiary of <a href="https://pfcindia.com/Home" target="_blank" rel="noopener">Power Finance Corporation</a>, to build the project on a build, own, operate, and transfer basis for 35 years.</p>
<p>The project comprises the construction of a 765 kV transmission corridor which will be laid across a 350 km stretch from Fatehgarh III to Beawar in the Ajmer district.</p>
<p>The ISTS project will enable the evacuation of a part of 20 GW of renewable power from Fatehgarh (9.1 GW), Bhadla (8.1 GW), and Ramgarh (2.9 GW) areas.</p>
<p>This is Sterlite&#8217;s second green energy project and the first that the company bagged in Rajasthan.</p>
<p>Earlier this month, Sterlite Power <a href="https://mercomindia.com/sterlite-20-billion-transmission-project/" target="_blank" rel="noopener">commissioned</a> the ~300 km Lakadia-Vadodara Transmission Project, part of the green energy corridor. The project is designed to evacuate over 5 GW of renewables from Bhuj and Kutch to the national grid.</p>
<p>Sterlite Power’s Managing Director Pratik Agarwal said, “We are very happy to win another Green Energy Corridor transmission project which is vital to India’s energy transition playbook. This is our eighteenth transmission project in the country, and with our strong capabilities and experience, we are well poised to deliver another world-class asset to the nation.”</p>
<p>Sterlite Power’s portfolio includes 30 completed, sold, and under-construction projects covering approximately 14,602 circuit km of transmission lines across India and Brazil.</p>
<p>Last year, the Ministry of Power <a href="https://mercomindia.com/transmission-infrastructure-66-5-gw-renewable-zones-by-2022/" target="_blank" rel="noopener">said</a> that the government is working towards setting up transmission systems for renewable energy zones with 66.5 GW of capacity by the end of 2022 to integrate non-fossil fuel energy sources with the country’s grid. It also plans transmission arrangements for another 181.5 GW of renewable energy resources by 2030.</p>
<p>In October 2020, Sterlite Power <a href="https://mercomindia.com/pfc-approves-nearly-%e2%82%b921-billion/" target="_blank" rel="noopener">secured</a> financial closure for its Vapi II North Lakhimpur Transmission Limited project, wherein the total debt funding of ₹20.7 billion (~$281 million) came from Power Finance Corporation.</p>


Sterlite Bags ISTS Project to Evacuate 20 GW of Renewables in Rajasthan


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					</table><p>Power transmission company <a href="https://www.sterlitepower.com/" target="_blank" rel="noopener">Sterlite Power</a> has successfully commissioned the Lakadia-Vadodara Transmission Project (LVTPL), which is part of the green energy corridor initiative. The project is designed to evacuate over 5 GW of renewables from Bhuj and Kutch to the national grid.</p>
<p>LVTPL has been constructed as an inter-state transmission system at a cost of ₹20.2 billion (~$247 million). This system connects a 765/400 kV substation at Lakadia to Vadodara through a 335-km long, double-circuit transmission line at 765 kV. The project consists of 812 towers that span seven districts in Gujarat.</p>
<p>&#8220;It makes us immensely proud to announce the completion of the mega LVTPL project. It has been a challenging journey, but we have been successful in unlocking 5 GW of green power for the nation that will accelerate India&#8217;s RE vision of 500 GW by 2030,&#8221; said Pratik Agarwal, Managing Director of Sterlite Power.</p>
<p>Sterlite Power was awarded the transmission project in 2019, and construction began in 2020 amidst the COVID-19 pandemic. The company implemented construction techniques, including the use of pocket foundation, well-point system, and tower designs specifically designed to withstand the complex terrain challenges in the region to ensure the project&#8217;s successful completion.</p>
<p>Sterlite&#8217;s portfolio consists of 30 completed, sold, and ongoing projects. These projects cover 14,602 circuit kilometers of transmission lines across India and Brazil. The company also develops power conductors, extra-high voltage cables, and optical ground wires.</p>
<p>The company recently <a href="https://mercomindia.com/sterlite-power-secures-funding-for-transmission-project-in-jk/" target="_blank" rel="noopener">achieved</a> financial closure for its Kishtwar transmission project in Jammu and Kashmir by securing debt funding of ₹3 billion (~$37 million) from a non-banking infrastructure finance company, Aseem Infrastructure Finance. Sterlite acquired the Kishtwar transmission project last December to execute the inter-state transmission system project.</p>
<p>Last September, Sterlite&#8217;s Mumbai Urja Marg Transmission <a href="https://mercomindia.com/sterlite-commissions-400-kv-transmission-line-evacuate-renewables/" target="_blank" rel="noopener">commissioned</a> a 400 kV transmission line in the Banaskantha, Kansari, and Vadavi regions of Gujarat four months ahead of the scheduled time for completion. The high voltage transmission line will be used to evacuate about 1 GW of renewable power from Bhuj in northern Gujarat to the national grid.</p>


Sterlite Commissions ₹20 Billion Transmission Project in Green Energy Corridor


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					</table><p><a href="https://www.indigrid.co.in/" target="_blank" rel="noopener">IndiGrid</a>, the Indian power sector’s first infrastructure investment trust (InvIT), said its profit jumped 27% year-over-year (YoY) to ₹1.19 billion (~$14.59 million) in the third quarter (Q3) of the financial year (FY) 2023.</p>
<p>The company’s Chief Executive Officer, Harsh Shah, attributed the performance to robust operations and steady acquisitions, which would help the firm meet its FY23 distribution guidance of ₹13.20 (~$0.162) per unit.</p>
<p>For the October-December period, the company’s revenue grew by 4% YoY to ₹5.91 billion (~$72.46 million).</p>
<p>The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at ₹5.36 billion (~$65.71 million) in Q3 FY 2022, up 4% YoY. The growth was driven by steady operational performance and robust availability.</p>
<p style="text-align: center;"><a href="https://mercomindia.com/wp-content/uploads/2023/01/IndiGrid-Results-1.png"><img loading="lazy" decoding="async" class="alignnone wp-image-48596 size-full" src="https://mercomindia.com/wp-content/uploads/2023/01/IndiGrid-Results-1.png" alt="IndiGrid Results-1" width="562" height="281" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/IndiGrid-Results-1.png 562w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/01/IndiGrid-Results-1-300x150.png 300w" sizes="(max-width: 562px) 100vw, 562px" /></a></p>
<p>“We are delighted to announce the deal signing of IndiGrid’s 15th transmission asset, Khargone Transmission, the last of the framework assets with Sterlite. These acquisitions and the GR partnership are in line with IndiGrid’s growth plan and strategy to focus on operating assets with long-term cash flows and minimal counterparty risk,” Shah said.</p>
<p>Recently, the company executed a share purchase agreement for 100% equity interest in Khargone Transmission (KTL) with Sterlite Power Transmission for ₹14.98 billion (~$183.66 million). KTL consists of 6 elements across 626 circuit km of the transmission network and a 765/400 kV substation. This acquisition would boost IndiGrid’s portfolio to ~₹227 billion (~$2.8 billion) and is expected to add ~₹ 850 million (~$10.42 million) yearly to IndiGrid’s net distributable cash flow.</p>
<p>Upon acquisition, IndiGrid’s asset portfolio would consist of 17 power transmission projects with a total network of 46 power transmission lines and 13 substations extending over ~8,420 circuit km and 17,550 MVA capacity, along with 100 MW of solar generation capacity.</p>
<p>In 2021, IndiGrid had <a href="https://mercomindia.com/indigrid-acquire-transmission-project-sterlite-power/" target="_blank" rel="noopener">signed</a> a share purchase agreement to acquire NER–II transmission project from Sterlite Power for about ₹46.25 billion (~$567.03 million).</p>
<p>During the quarter, the company also signed a framework agreement with GR Infra for the acquisition of the Rajgarh Transmission. Along with this, it completed the acquisition of the Raichur Sholapur line for ₹2.5 billion (~$30.65 million).</p>
<p>IndiGrid aims to maintain stable operations for predictable and sustainable distribution while looking for value-accretive acquisitions. It also aims to add nearly ₹2.4 trillion (~$29.42 billion) worth of transmission projects to the grid by FY 2030.</p>


IndiGrid’s Q3 Profit Rises 27% to ₹1.19 Billion on the Back of Acquisitions

<p>Power transmission company <a href="https://www.sterlitepower.com/" target="_blank" rel="noopener">Sterlite Power</a> announced the financial closure for its Nangalbibra-Bongaigaon Transmission Project with debt funding of ₹4.4 billion (~$57.19 million) from Tata Cleantech Capital.</p>
<p>Sterlite Power had <a href="https://mercomindia.com/daily-news-wrap-up-sterlite-acquires-transmission-project/" target="_blank" rel="noopener">acquired</a> Nangalbibra —Bongaigaon Transmission, a special purpose vehicle (SPV) from PFC Consulting. The company won the inter-state transmission system (ISTS) project estimated at ₹3.24 billion (~$43 million) through tariff-based competitive bidding in October 2021. Sterlite leveraged its experience building the NER-II project, an inter-state transmission project spanning across the northeastern states of Assam, Arunachal Pradesh, and Tripura.</p>
<p>The Nangalbibra-Bongaigaon Transmission project includes 250 ckt km of 400 kV Dc transmission line connecting Bongaigaon in Assam to a greenfield substation at Nangalbibra in Meghalaya, 220/132 kV substation at Nangalbibra in Meghalaya, and 50 ckm km of 132 kV Dc line connecting Hatsinghmari in Assam to Ampati in Meghalaya.</p>
<p>The project will transmit over 1 GW of power from Assam to the western parts of Meghalaya. Apart from bringing additional power flow, it will also help decongest the downstream networks in the region, improving the quality and reliability of power flow in Northeast India.</p>
<p>“We are pleased to conclude this deal with Tata Cleantech Capital which is a first-of-its-kind climate finance institution that is working towards climate change mitigation in India. Sterlite Power is an active proponent of greening the grid, and we are committed to India’s ambitious RE goal of 500 GW by 2030,” said Pratik Agarwal, Managing Director, Sterlite Power.</p>
<p>In January 2021, Sterlite Power had <a href="https://mercomindia.com/sterlite-allianz-global-investors/" target="_blank" rel="noopener">announced</a> that it raised ₹2 billion ($27.23 million) in debt financing from leading investment managers Allianz Global Investors (Allianz GI), focusing on sustainable investments. The amount was raised through a non-convertible debenture with a three-year tenure and is part of the larger refinancing exercise undertaken by Sterlite to reduce its holding company borrowings.</p>
<p>In October 2020, Sterlite had <a href="https://mercomindia.com/pfc-approves-nearly-%e2%82%b921-billion/" target="_blank" rel="noopener">secured</a> financial closure for its Vapi II North Lakhimpur Transmission Limited. The total debt funding of ₹20.7 billion (~$281 million) came from Power Finance Corporation. Sterlite Power is also constructing transmission assets in Maharashtra, Gujarat, Assam, and Arunachal Pradesh, including critical corridors as part of India’s Green Energy Corridor.</p>
<p>In August 2020, the company had <a href="https://mercomindia.com/sterlite-power-sells-stake/" target="_blank" rel="noopener">sold</a> a 14.7% stake in the India Grid Trust for ₹8.4 billion (~$112.2 million) to institutional and high net-worth individual investors. IndiGrid is an infrastructure investment trust (InvIT) established by Sterlite Power Grid Ventures to own inter-state power transmission assets in India.</p>


Tata Cleantech Loans ₹4.4 Billion to Sterlite for a Northeastern Transmission Project

<p>Here are some noteworthy cleantech announcements of the day from around the world:</p>
<p><strong>Power transmission infrastructure developer </strong><a href="https://www.sterlitepower.com/" target="_blank" rel="noopener"><strong>Sterlite Power</strong></a><strong> was awarded the Nangalbibra─ Bongaigaon inter-state power transmission project. </strong>Sterlite was awarded the ₹3.24 billion (~$43 million) project after tariff-based competitive bidding, where Sterlite had emerged as the L1 bidder. Sterlite has completed the NER-II project, an inter-state transmission scheme spanning across the north-eastern states of Assam, Arunachal Pradesh, and Tripura. It will also leverage its prior experience in implementing river-crossing solutions across the Ganges to address the challenge of long-span river crossing across the Brahmaputra River.</p>
<p><strong>British multinational chemicals company INEOS has </strong><a href="https://www.ineos.com/news/ineos-group/ineos-announces-over-2-billion-investment-in-green-hydrogen-production/" target="_blank" rel="noopener"><strong>announced</strong></a><strong> that it will invest more than €2 billion (~$2.32 billion) </strong>into electrolysis projects to make zero-carbon, green hydrogen across Europe. INEOS will build the plants in Norway, Germany, Belgium, with investments planned in the UK and France. The company will invest in emissions-free production using electrolysis, an electrical current passing through water, with wind, solar or hydroelectric power providing the electricity. Powered by zero-carbon electricity in Norway, the first unit will be a 20 MW electrolyzer deployed to produce clean hydrogen through electrolysis.</p>
<p><strong>PEM fuel cell manufacturer Ballard Power Systems and Forsee Power </strong><a href="https://www.ballard.com/about-ballard/newsroom/news-releases/2021/10/18/ballard-and-forsee-power-to-enter-long-term-strategic-partnership-to-develop-and-commercialize-integrated-fuel-cell-and-battery-solutions-for-heavy-duty-hydrogen-mobility" target="_blank" rel="noopener"><strong>announced</strong></a><strong> the signing of a memorandum of understanding (MOU) for a strategic partnership </strong>to develop fully integrated fuel cell and battery solutions. The partnership aims to create a fully integrated solution combining a fuel cell and battery system optimized to meet the needs of targeted medium and heavy-duty mobility markets of bus, truck, rail, marine, and off-road. As part of the strategic relationship, Ballard is committing to participate as a cornerstone lead investor in connection with the proposed IPO of Forsee. This commitment would allow Ballard to acquire a stake in Forsee Power upon its initial public offering on Euronext in Paris, France.</p>
<p><a href="https://carrier.huawei.com/en/products/digital-power" target="_blank" rel="noopener"><strong>Huawei Digital Power</strong></a><strong> signed a key contract with SEPCOIII for The Red Sea Project with 400 MW PV plus 1300 MWh battery energy storage solution (BESS). </strong>The two parties will cooperate to help Saudi Arabia build global clean energy and green economy center. The Red Sea Project has been listed in the Saudi Vision 2030 as a key project. The project will increase the Saudi GDP by $5.86 billion per year upon completion when it will cover 28,000 km2 (11,000 sq mi) of islands, beaches, deserts, mountains, and volcanic areas.</p>


Daily News Wrap-Up: Sterlite Power to Build Northeastern Transmission Project

<p>Mumbai-based power transmission company <a href="https://www.sterlitepower.com/" target="_blank" rel="noopener noreferrer">Sterlite Power</a> secured the financial closure for its Vapi II North Lakhimpur Transmission Limited (VNLTL). Sterlite said that the total debt funding of ₹20.7 billion (~$281 million) came from Power Finance Corporation Limited (<a href="https://www.pfcindia.com/" target="_blank" rel="noopener noreferrer">PFC Ltd</a>).</p>
<p>The financial closure was achieved within four months of the special purpose vehicle&#8217;s acquisition of the project. Sterlite Power <a href="https://mercomindia.com/sterlite-power-to-strengthen/" target="_blank" rel="noopener noreferrer">acquired</a> VNLTL SPV in June 2020 to execute an inter-state transmission system (ISTS) project covering connecting the northeast with western India. The project is expected to supply renewable energy from solar, nuclear, and hydropower sources to India&#8217;s western and northeastern regions.</p>
<p>Under the project, Sterlite would set up 179 km long power lines for critical system strengthening and decongest the Navi Mumbai transmission corridor by bringing in an inter-state transmission feed of about 1 GW. The link will feed the region&#8217;s power needs, especially the Navi Mumbai Airport and the Special Economic Zone.</p>
<p>Managing Director of Sterlite Power, Pratik Agarwal, said, &#8220;This deal is a huge show of trust by PFC in our capability to deliver some of the most challenging and impactful transmission projects in the country. This month, we also inducted REC Ltd. as the lead lender for Lakadia Vadodara Transmission Project Ltd, our Green Energy Corridor project. We are an active proponent of greening the grid, and we see about 80% of our new projects to be linked to transportation of renewable energy.&#8221;</p>
<p>In July, the company said it also refinanced its Gurgaon Palwal Transmission project with HDFC Bank.</p>
<p>Sterlite <a href="https://mercomindia.com/sterlite-lakadia-vadodara-transmission-gujarat/" target="_blank" rel="noopener noreferrer">achieved</a> the Lakadia Vadodara transmission project&#8217;s financial closure by securing ₹20.24 billion (~$274.86 million) in funding.  This project would connect the wind energy zones of Gujarat to the load centers in Gujarat and Maharashtra. The company also <a href="https://mercomindia.com/sterlite-green-corridor-transmission-gujarat-evacuate-wind-energy/" target="_blank" rel="noopener noreferrer">announced</a> that it would join hands with GE T&amp;D India Limited, Unitech Power Transmission Limited, Tata Projects Limited, and Associate Power Structures to develop the Lakadia Vadodara transmission project the Green Energy Corridor. The project connects the wind energy zones of Gujarat to the load centers in Gujarat and Maharashtra.</p>
<p>To focus on the core business as a developer of power transmission assets, the company also <a href="https://mercomindia.com/sterlite-power-sells-stake/" target="_blank" rel="noopener noreferrer">sold</a> a 14.7% stake in the India Grid Trust (IndiGrid) for ₹8.4 billion (~$112.2 million).</p>
<p>The company is ramping up its technology for grid efficiency and <a href="https://mercomindia.com/sterlite-power-smart-wires-enhance-grid-efficiency/" target="_blank" rel="noopener noreferrer">signed</a> an agreement with U.S.-based <a href="https://www.smartwires.com/" target="_blank" rel="noopener noreferrer">Smart Wires</a>. The technology named &#8216;SmartValveTM&#8217; is expected to allow utilities to optimize the use of their existing transmission capacity and enhance grid flexibility.</p>


PFC Approves Nearly ₹21 Billion for Sterlite’s ISTS Project Connecting West & Northeast

<p><a href="https://www.sterlitepower.com/" target="_blank" rel="noopener noreferrer">Sterlite Power</a>, a Mumbai-based power transmission company, announced that it had acquired Vapi-II North Lakhimpur Transmission Limited (VNLTL), a special purpose vehicle (SPV) of PFC Consulting Limited, to execute a large interstate transmission system (ISTS) strengthening project.</p>
<p>The project falls under the scope of the Western Region Strengthening Program -XIX and North Eastern Region Strengthening Program-IX. The former involves setting up 318 circuit kilometers (ckm) of lines and 1000 MVA of transformation capacity in three separate parts.</p>
<p>Part-A entails setting up 35 ckm lines in Gujarat to help distribute renewable energy generated in the state to a much wider consumer base. Part-B involves establishing a 1,000 MVA substation in Vapi, Gujarat, along with 51 ckm of transmission lines, and Part-C involves setting up 179 ckm of transmission lines for strengthening and decongesting the evacuation system in Navi Mumbai.</p>
<p>Meanwhile, the Northeastern Region Strengthening Program &#8211; IX calls for the strengthening of the northeastern transmission network by setting up 85 ckm of lines in Arunachal Pradesh &#8211; to evacuate hydropower from the 110 MW Pare Hydro-Electric Project &#8211; and in Assam.</p>
<p>“Integrating renewable energy into the grid is the need of the hour. This single project, with its various sub-elements, brings in clean and green energy from solar, nuclear, and hydro for people across the western and northeastern region in India,” said Pratik Agarwal, Managing Director, Sterlite Power.</p>
<p>“Further, it will play a key role in decongesting the Navi Mumbai transmission corridor while catering to the ever-growing needs of the financial capital – Mumbai,” Agarwal added.</p>
<p>Sterlite Power is also constructing other transmission assets in the states of Maharashtra, Gujarat, Assam, and Arunachal Pradesh, including critical corridors that are part of India’s Green Energy Corridor.</p>
<p>In April, Sterlite Power <a href="https://mercomindia.com/sterlite-green-corridor-transmission-gujarat-evacuate-wind-energy/" target="_blank" rel="noopener noreferrer">announced</a> its plans to join hands with GE T&amp;D India Limited, Unitech Power Transmission Limited, Tata Projects Limited, and Associate Power Structures to develop the Lakadia Vadodara Transmission Project Limited under the Green Energy Corridor.</p>
<p>Previously, the company had <a href="https://mercomindia.com/sterlite-lakadia-vadodara-transmission-gujarat/" target="_blank" rel="noopener noreferrer">announced</a> that it achieved the financial closure of the Lakadia Vadodara transmission project by securing ₹20.24 billion (~$274.86 million) in funding.</p>
<p>The lack of transmission infrastructure to support new renewable energy capacity additions has been a <a href="https://mercomindia.com/transmission-capacity-concern-solar-wind/" target="_blank" rel="noopener noreferrer">growing concern</a> for solar and wind companies in the country. India’s transmission and distribution system <a href="https://mercomindia.com/indias-transmission-infrastructure-struggles-wind-solar/" target="_blank" rel="noopener noreferrer">require</a> significant expansion, considering the expected surge in power demand over the coming decade and the rapid installation of solar and wind projects.</p>
<p>Mercom recently <a href="https://mercomindia.com/ists-waiver-solar-stuck-covid-19/" target="_blank" rel="noopener noreferrer">reported</a> that a six-month extension on the waiver of ISTS charges might not be enough to help facilitate the growth of the transmission network in the country fast enough to support upcoming renewable projects. The ISTS waiver ends in December 2022.</p>


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