Sterlite Power secures Rs 440 cr debt financing from Tata Cleantech for NBTL project
In a statement, Sterlite Power Transmission said “it has secured the full debt financing of Rs 440 crore from Tata Cleantech Capital for the project. This financial close is achieved within 2 months of the acquisition of the SPV ( special purpose vehicle) of the project.”
Sterlite Power acquired NBTL SPV in December 2021 to execute the Interstate Transmission System Project.
The project will transmit over 1,000 MW of power from Assam to western parts of Meghalaya. In addition to bringing additional electricity flow, it will also help decongest the region’s downstream networks, thereby improving the quality and reliability of electricity flow in the North East.
“India’s power transmission sector plays a critical role in the country’s transition to a net-zero carbon future. Our goal at Tata Cleantech Capital is to support and invest in the green energy sectors and the long-term financing of this project is a step in that direction,” said Manish Chourasia, Managing Director of Tata Cleantech Capital.
Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with projects covering approximately 13,700 km of transmission line circuits across India and Brazil.
The company has a portfolio of high performance power conductors, extra high voltage (EHV) cables and optical ground wires (OPGW). The company provides tailor-made solutions for upgrading, retrofitting and fiber-fibering existing transmission infrastructure projects.