Mumbai, 6 December 2022: Sterlite Power, a leading power transmission developer and solutions provider in India and Brazil, announced the acquisition of Kishtwar Transmission Limited, a Special Purpose Vehicle (SPV) from PFC Consulting Limited (PFCCL). PFCCL is a wholly owned subsidiary of Power Finance Corporation Limited (PFC), a Maharatna Public Sector Enterprise. The project was awarded to Sterlite Power through Tariff Based Competitive Bidding (TBCB) process in March 2022. Through the Kishtwar Transmission Limited SPV, the company will build, own, operate and maintain a critical transmission project in Jammu & Kashmir (J&K) for a period of 35 years.
The project will comprise a 400/132kV GIS substation at Kishtwar and 400 kV Kishenpur-Dulhasti LILO (Line in Line out) transmission line. The transmission system will be used for evacuation of 1000MW of power from Pakaldul Hydro Electric Project to the Kishtwar substation.
Mr. Manish Agarwal, Director & CEO – India Transmission Business, Sterlite Power, said, “We, at Sterlite Power, are committed to empowering humanity by ensuring power connectivity through our power transmission projects. With Kishtwar transmission project, we aim to further strengthen the power infrastructure and usher economic development in the J&K region.”
This will be Sterlite Power’s 17th power transmission project in India under the Tariff-Based Competitive Bidding (TBCB) mode.