Sterlite Power, a power transmission developer, on Monday said it has achieved financial closure for its Beawar Transmission (BTL) project in Rajasthan. The project has secured funds totaling about Rs 2,400 crore from REC Power Development and Consultancy Ltd – a wholly-owned subsidiary of Rural Electricity Corporation (REC).
“Financial closure is an important milestone in an infrastructure project’s life cycle. Achieving this in a short span will help us in expediting the delivery of this critical project – an integral part of the larger green energy corridor that will help evacuate around 20 GW of renewable energy,” said Pratik Agarwal, managing director, Sterlite Power.
According to the official press release, Sterlite Power acquired the BTL SPV in September 2023 to execute the inter-state green energy transmission project on build-own-operate-transfer basis for 35 years.
The project will connect the renewable energy zone at Fatehgarh III to a proposed substation at Beawar in the state. The financial closure for the project came within four months of Sterlite Power acquiring the project, added the release.
