Sterlite Power has achieved financial closure for its Lakadia Vadodara Transmission Project Ltd (LVTPL).
The project is part of India’s Green Energy Corridor (GEC) and will enable the country’s renewable energy target of achieving 175 GW RE by 2022. The project has secured funds worth INR2,024 Crore (US$273.49 million) from IndusInd Bank and L&T Infrastructure Finance.
Sterlite Power had won this project (WRSS 21 – Part B) through tariff-based competitive bidding (TBCB) process that connects the wind energy zones of Bhuj in Gujarat to the load centers in the States of Gujarat and Maharashtra. It involves laying of 330 kms of 765 kV double-circuit transmission line to connect 765/400 kV Lakadia substation to Vadodara substation in Gujarat, in an aggressive timeframe of 18 months.
