Sterlite Power Transmission Ltd (SPTL), a subsidiary of Vedanta Ltd, is in the process of transferring three power transmission projects in India to its joint venture with GIC Pte, a Singapore-based sovereign wealth fund. These projects, located in Kishtwar, Nangalbibra, and Fatehgarh, are at various stages of development and are slated to be integrated into Sterlite Grid 32 Ltd. This strategic move underscores SPTL's commitment to leveraging partnerships to optimize its operational efficiency and expand its presence in the Indian power transmission sector.

Last year, SPTL forged a significant partnership with GIC, establishing a formidable $1 billion joint venture platform. The primary objective of this collaboration is to capitalize on the burgeoning demand for power evacuation networks across India, as the country continues to experience rapid urbanization and industrialization.

Led by Anil Agarwal, SPTL boasts an extensive portfolio comprising over 34,000 kilometers of communication projects. These projects, which utilize Optical Ground Wire (OPGW) technology, play a crucial role in enhancing connectivity and facilitating efficient communication across diverse geographic terrains. Additionally, SPTL is a leading manufacturer of power cables, conductors, and OPGW, catering to major states in India, private utilities, and exporting to more than 60 countries.

Furthermore, SPTL's Global Infrastructure division is actively involved in bidding for, designing, constructing, owning, and operating power transmission assets in both India and Brazil. This division's diversified portfolio and strategic initiatives position SPTL as a key player in the global power transmission market.

Despite market challenges, exemplified by the withdrawal of its Draft Red Herring Prospectus (DRHP) and deferred listing plans in September 2022, Sterlite Power remains committed to its long-term vision of driving innovation and growth in the power transmission sector.