Sterlite Power announced on Thursday the successful financial closure for its Neemrana II Kotputli Transmission (NKTL) project, securing ₹1,373 crore in funding from the Power Finance Corporation (PFC). 

Expressing satisfaction with the deal, Raji George, Director of Corporate Finance at Sterlite Power, stated, “We are delighted to finalize this significant financial agreement for one of our major Green Energy Corridor (GEC) projects with PFC, a highly esteemed financial institution in India’s power sector. This partnership underscores PFC’s confidence in our ability to deliver complex and impactful transmission projects.”

In November 2023, Sterlite Power took over the Neemrana II Kotputli Transmission Special Purpose Vehicle (SPV) to develop the green energy corridor project on a Build, Own, Operate, and Transfer (BOOT) model for 35 years.

The project involves constructing a modern 6000 MVA, 765/400kV substation in Neemrana, along with a 400 kV transmission line network extending approximately 250 kilometers. This infrastructure will create essential connections by linking the Neemrana substation with the existing Kotputli substation. Additionally, the project includes a Line-In Line-Out (LILO) setup that will connect the Neemrana II substation to the Gurgaon and Sohna substations via the current Gurgaon-Sohna line.

In a related development, Sterlite Power completed funding for the Beawar Transmission project in February 2024, securing support from REC Power Development and Consultancy, a wholly-owned subsidiary of REC.