Sterlite Grid gets letter of intent for Odisha project

Sterlite Grid has received a Letter of Intent for commissioning power evacuation infrastructure in Odisha built with a capex of Rs 1,250 crore for local power projects.

"Sterlite Grid emerged as the lowest bidder for the power transmission project in Odisha with a levelised annual tariff of Rs 139.79 crore," Sterlite Technologies Ltd said in a regulatory filing.

The company said bids were invited by PFC Consulting Ltd to develop transmission systems for Odisha based power projects named as "For Common Transmission System for Phase-II Generation Projects in Odisha and Immediate Evacuation System for OPGC Project in Odisha". "The transmission lines will form part of Interstate transmission network providing additional evacuation up to 5,000 megawatt (mw) of electricity from Odisha based plants that are seeking better access to the power consuming centers," it added.

Sterlite Grid will Build, Own, Operate & Maintain approx 300 km of 765 kV Double Circuit system strengthening line from Jharsugda to Raipur and approx 50 km of 400 kV Double Circuit line between OPGC Power Project & Jharsugda with approximate capital expenditure of Rs 1,250 crore, the company said.

"We will execute this project on fast track to help country's vision of uninterrupted power supply for all. We are confident that our talented team coupled with cutting edge technology will create a robust power evacuation network in record time," Sterlite Power Grid Ventures Ltd Chairman Pravin Agarwal said.

The company added that this is eighth project won by it under the Tariff Based Competitive Bidding mechanism.

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