Sterlite Power gets ₹305 cr funding from Aseem Infra Finance for transmission project
The project involves construction of a transmission system comprising a 132kV GIS substation at Kishtwar and a 400 kV transmission line from Kishenpur to Dulhasti
New Delhi: Sterlite Power on Wednesday said it has received funds worth ₹305 crore from Aseem Infrastructure Finance to set up the Kishtwar Transmission Limited (KTL) project located in Jammu & Kashmir.
The project involves construction of a transmission system comprising of a 400/132kV GIS substation at Kishtwar and a 400 kV transmission line from Kishenpur to Dulhasti.
The transmission system will aid evacuation of 1000MW of power from Pakaldul Hydro Electric Project to the Kishtwar substation.
Apart from bringing additional power flow, it will also help in decongesting the downstream networks in the region, improving the quality and reliability of power flow in Kashmir valley.
“We are pleased to conclude this deal with Aseem Infrastructure Finance Limited in record time. We are proud to play a role in providing reliable power and building a secure energy future for J&K. This will be our second project in the region after delivering the mega NRSS Kashmir project ahead of schedule,” said Akshay Hiranandani, Executive Director- Corporate Finance, Sterlite Power.
“Aseem Infra is glad to have supported Sterlite Power by providing long-term debt financing for the Kishtwar project which would contribute immensely to the infrastructure growth story of J&K. The debt solution was structured in a manner so as to balance the unique requirements of all the stakeholders involved while delivering a swift TAT. In line with its vision to help create a futuristic India through transformative infrastructure financing, Aseem has been making rapid strides as reflected in its high-quality asset book crossing INR 10,000 crores mark in 25 months of operations,” said Virender Pankaj, CEO, Aseem Infrastructure Finance Ltd.
In December 2022, Sterlite Power acquired the KTL Special Purpose Vehicle.
Sterlite Power is a leading power transmission infrastructure developer and solutions provider with projects covering approximately 14,602 circuit km of transmission lines across India and Brazil.
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Business NewsCompaniesNewsSterlite Power gets ₹305 cr funding from Aseem Infra Finance for transmission project
First Published:11 Jan 2023, 05:36 PM IST
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