Sterlite Power acquires SPV from PFC Consulting

Mumbai: Sterlite Power has acquired Vapi II North Lakhimpur Transmission Limited (VNLTL), a special purpose vehicle, from PFC Consulting Limited.

Sterlite Power will now execute large inter-state transmission system projects – Western Region Strengthening Scheme-XIX (WRSS-XIX) and North Eastern Region Strengthening Scheme-IX (NERSS-IX) that it won through the tariff-based competitive bidding process, under the build, own, operate and maintain model for 35 years, the company said.

The company did not provide financial details of the deal.