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Home STOCKS Sterlite Electricity acquires VNLTL SPV from PFC Consulting

Sterlite Electricity acquires VNLTL SPV from PFC Consulting

New Delhi: Transmission remedies company Sterlite Electrical power on Friday reported it has acquired Vapi II North Lakhimpur Transmission Limited (VNLTL), a special purpose automobile, from point out-owned PFC Consulting.
The organization, even so, did not disclose the deal value.
PFC Consulting Ltd (PFCCL) is a wholly-owned subsidiary of Power Finance Corporation (PFC), the non-banking finance corporation beneath the Ministry of Electric power.
In a assertion Sterlite Power announced the “acquisition of Vapi II North Lakhimpur Transmission Constrained (VNLTL), a SPV from PFC Consulting Limited”.
Via this SPV, it will execute a substantial inter-point out transmission method venture – Western Location Strengthening Plan-XIX (WRSS-XIX) and North Japanese Area Strengthening Scheme-IX (NERSS-IX), won through a tariff-primarily based competitive bidding system, less than the construct, individual, work and keep model for 35 several years.
The WRSS-XIX, Sterlite Electrical power mentioned, involves setting up of 318 circuit kilometer (ckm) of traces and 1000 MVA transformation capacity throughout a few distinct sections.
Element A requires placing up 35 ckm traces in Gujarat to enable distribute renewable energy being produced in the condition to a wider established of customers.
Element B aims to create a 1000 MVA substation in Vapi together with 51 ckm of lines to deliver clean up nuclear energy from Kakrapar Atomic Electric power Plant in Gujarat for even more distribution across the Union Territories of Daman, Diu and Dadra Nagar Haveli.
The 3rd portion C aims to set up 179 ckm of strains for vital system strengthening and decongesting the evacuation process in Navi Mumbai region.
The backlink delivers an inter-condition transmission technique feed of about 1,000 MW into the Mumbai location to cater to its growing energy prerequisites which is anticipated to boost owing to Navi Mumbai Airport and Navi Mumbai exclusive financial zone, coming up in the location, it reported.
The NERSS-IX, on the other hand, consists of strengthening of the north-jap transmission community by placing up 85 ckm of traces in the states of Assam and Arunachal Pradesh. The transmission procedure will aid the evacuation of hydro ability from 110 MW Pare Hydro-Electrical Task situated in Arunachal Pradesh.
Pratik Agarwal, Running Director, Sterlite Energy, explained, “Integrating renewable electricity to the grid is the need to have of the hour. This single project with its several sub-elements delivers in thoroughly clean and environmentally friendly vitality from photo voltaic, nuclear and hydro for men and women throughout the western and north jap area in India.
“Further it will participate in a critical job in decongesting the Navi Mumbai transmission corridor though catering to the at any time-expanding needs of the monetary capital Mumbai.”
Sterlite Ability also mentioned it is by now developing other transmission assets in the states of Maharashtra, Gujarat, Assam and Arunachal Pradesh, which include vital corridors that are aspect of India’s Environmentally friendly Energy Corridor.

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