Sterlite JV's 2 transmission projects received bids from three companies

17 Mar 2023 CW Team

Sterlite Power and its joint venture (JV) partner AMP Capital have received bids for their two power transmission assets from IndiGrid, Torrent Power, and Edelweiss Infrastructure Fund totaling between Rs 35 and 40 billion on an enterprise value basis. The two transmission projects will probably generate equity worth around 10 billion.

In order to create a platform, Sterlite Power and AMP Capital joined together in December 2020. They agreed to invest $300 million to create transmission assets worth roughly $1 billion. Lakadia Vadodara Transmission and Udupi-Kasargod Transmission, two assets from this JV platform with a total length of around 450 kilometres, have been placed on the market. More than 5,000 MW of renewable energy from Kutch and Bhuj in Gujarat will be transported to the national grid thanks to the Lakadia Vadodara line, which was just inaugurated. In the upcoming months, it's anticipated that the Udupi-Kasargode line would be put into service. Goa Tamnar Transmission and Mumbai Urja Marg Transmission are the other two projects included in this Partnership.

The sale process, which was started last year, had attracted attention from a number of financial investors and strategics. Three organisations鈥擨ndiGrid, Torrent Power, and Edelweiss Infra Fund鈥攈ave submitted bids to Sterlite, and these bidders are currently conducting due diligence on the assets.

Also read:
NLC establishes green energy joint venture with Assam Discom
Government to fund green energy conversion of state-run refineries

Resources

20 May 2025

Blum India brings Design Reverie to Hyderabad

Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city鈥檚 architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals鈥攁way from the typical conference setup. The eveni..

Resources

20 May 2025

Hafele launches Platinum Studio in Nagpur

Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director 鈥� HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele鈥檚 wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele鈥檚 full portfolio鈥攊ncludi..

Resources

20 May 2025

Truflo by Hindware wins GPTW honour again

Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India鈥檚 fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..