Sterlite Grid, India's largest private developer of independent power transmission systems, has set a new benchmark by commissioning the Transmission Project to Rajasthan Atomic Power Project (RAPP) ahead of schedule. Since the implementation of the Tariff Based Competitive Bidding (TBCB) regime, this is the first time a power transmission line has been commissioned ahead of schedule.
Earlier this year, in order to promote early completion of transmission projects, the Ministry of Power issued an order allowing such projects to earn tariff from the date of actual commissioning. The RAPP Transmission Project will be the first in India to be eligible for early tariff.
The RAPP Transmission Project consists of laying a 200 Km, 400 KV Double Circuit Transmission Line passing through the states of Rajasthan and Madhya Pradesh. It will act as an inter-regional link to strengthen transmission systems associated with RAPP to exchange power between the Northern and Western Grids. The project was completed in less than 12 months from the start of construction and will directly benefit the states of Madhya Pradesh, Punjab and Haryana.
"We are proud to commission the RAPP Transmission Project ahead of schedule - a first for the transmission projects awarded under Tariff Based Competitive Bidding. Sterlite Grid intends to set new benchmarks in the Indian power transmission sector by deploying cutting-edge technologies in construction and O&M to ensure worldclass power delivery in the country," said Pravin Agarwal, Chairman, Sterlite Grid.
The company is also the first Indian developer to deploy aerial technologies such as LiDAR survey and helicopter-aided construction in India, reducing the commissioning time.
In September 2015, Sterlite Grid joined hands with Burns & McDonnell, a US-based global leader in T&D engineering, to introduce world-class engineering and construction methodologies in power transmission projects.
With the commissioning of the RAPP Transmission Project, Sterlite Grid has now commissioned four out of a portfolio of seven projects and operates ~2,900 Circuit Km of projects in eight Indian states.
In addition, the Company's ongoing projects in Purulia and Kharagpur (PKTCL), NRSS 29 and Maheshwaram (MTL) are on track and are also likely to be completed ahead of schedule.
Shares of STERLITE TECHNOLOGIES LTD. was last trading in BSE at Rs.97.45 as compared to the previous close of Rs. 96.65. The total number of shares traded during the day was 132873 in over 1398 trades.
The stock hit an intraday high of Rs. 98.4 and intraday low of 96.6. The net turnover during the day was Rs. 12958793.