Sterlite Power wins new orders worth INR 2,500 crores in Q4 FY24

– Records a 35% year-on-year (YoY) increase in Order booking from FY23

Bengaluru, 30 April 2024— Sterlite Power, a leading power transmission developer as well as products & services provider, capped off a successful fiscal year (FY24) with new orders worth INR 2,500 crores for its Global Products and Services (GPS) business unit in Q4. This takes the company’s cumulative order wins in FY24 to a significant INR 7,000 crores, representing a 35% year-on-year (YoY) increase as compared to FY23. This growth underscores the growing global and domestic demand for robust power transmission infrastructure, particularly to support the integration of renewable energy sources critical for a net-zero future.

Commenting on the new order wins, Pratik Agarwal, Managing Director, Sterlite Power, said, ““Our GPS business is experiencing significant growth, underscored by a robust order book that highlights our commitment to delivering premium, high-quality products. These products are essential in driving the sector’s expansion over multiple decades, spurred by the global shift towards energy transition and decarbonization. We are seeing a substantial increase in demand for our specialized high-performance conductors and underground cables as nations invest in stronger, higher-capacity transmission grids.”

Key order highlights are as follows:

? High-Performance Conductors & OPGW: In Q4, the company secured a substantial set of orders to supply conductors to green energy power transmission projects in Rajasthan including the Fatehgarh-Bhadla Transmission line project. Together, these projects will enable evacuation of 20 GW of renewable energy from Rajasthan to the National power Grid. In addition, the company is also exporting high-performance green products to customers across Americas, European Union, Africa, and Middle East. Further, the company’s OPGW segment also witnessed significant traction from Power Grid Corporation of India and state utilities like Uttar Pradesh Power Transmission Company Ltd. and Jharkhand Urja Sancharan Nigam Limited (JUSNL). Further, the company has successfully bagged export orders for OPGW in Africa and CIS markets.

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? Power Cables: The demand for Power Cables mirrored the growth in renewable energy integration, urbanization, and grid expansion. Sterlite Power has secured multiple orders to supply Extra High Voltage (EHV) & High Voltage (HV) cables for large-scale infrastructure projects that are underway in the states of Madhya Pradesh, West Bengal, Karnataka, Odisha, and Gujarat. Securing such projects shows GPS’s capability to deliver end-to-end solutions on turnkey basis and be a dependable partner in infrastructure development of the nation.

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? Specialized EPC services: The company’s specialized EPC services unit signed a turnkey project contract with Odisha state transmission utility to uprate its existing 132 kV Pratapsasan-Kesura-Ransinghpur transmission line using high performance conductors (HPC). Odisha state utility is focused on upgrading and modernizing its transmission network. The uprate project will offer a cost-effective solution to increase transmission capacity of the transmission line without requiring additional right-of-way, enabling the state to modernize its power network to meet future load growth.