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Sterlite Power Partners with Leading EPC and OEM Players from Power Sector to Execute its Green Energy Corridor Project

Posted On: 2020-03-30 13:00:19

Sterlite Power, a leading global developer in power transmission today announced that it is joining hands with GE T&D India Ltd, Unitech Power Transmission Ltd. (UPTL), Tata Projects Ltd (TPL) and Associate Power Structures Pvt. Ltd (APSPL). This partnership will implement state of the art OEM & EPC solutions in the execution of its Green Energy Corridor (GEC) project - Lakadia Vadodara Transmission Project Limited (LVTPL).

As a part of these partnerships, GE will design, construct, test and commission 765kV GIS substation at Vadodara and 765kV AIS substation at Lakadia in Gujarat. While TPL, APSPL and UPTL will provide the Engineering Procurement and Construction (EPC) related supply, erection, testing and commissioning of 343kms of transmission lines for the project. Sterlite Power had won this very critical GEC project through tariff-based competitive bidding process last year, which will contribute towards India's renewable energy target of 175GW by 2022. Renewable energy is indeed the need of the hour to combat climate change and reduce carbon emissions across the globe by creating an alternative to fossil fuel-based energy.

Commenting on this partnership, Mr. Pratik Agarwal, Managing Director, Sterlite Power said, "This Green Energy Corridor project is very special for Sterlite Power since it will help our country to achieve its renewable energy target, and fight climate change by creating cleaner alternative to fossil fuel based energy. With established EPC and OEM partners onboard, we are best prepared to deliver this complex project within the timelines while maintaining highest standards of quality, as well as health and safety of our workforce."

Mr. Pitamber Shivnani, CEO, GE Grid Solutions, commented, "GE team has been associated with Sterlite Power from the beginning of their journey in the T&D domain and the experience has been mutually rewarding. We are excited to partner with them for the prestigious Lakadia-Vadodara GEC project. We have been working together with their teams on this project right from the bidding stage. This partnership is an endorsement of Sterlite Power's trust in us, our pioneering solutions and our strong capabilities in the power transmission space."

Mr. Vivek Gautam, COO, Tata Projects Limited, said, "It's an honour for us to once again partner with Sterlite Power, to execute yet another challenging project which is the first of its kind GEC project. Our proven expertise, technological know-how and management excellence in delivering high impact power transmission projects has established us as a strong player in the transmission segment. We are confident of overcoming all challenges and delivering this project safely and successfully on or before scheduled completion."

Mr. M.K. Agarwal, CEO & Director, Unitech Power Transmission Ltd., said, "We have successfully partnered with Sterlite Power in the past and would like to continue our success story with GEC as well. As a leading engineering player in the power transmission space, we are eager to provide our absolute solutions and services towards executing the project of national importance."

Sterlite Power won the LVTPL project (WRSS 21 - Part B) through tariff-based competitive bidding (TBCB) in August 2019 and acquired the Special Purpose Vehicle in December 2019. The project involves laying over 300 kms of 765 kV double-circuit transmission lines connecting 765/400 KV Lakadia substation to Vadodara substation in Gujarat.

Source: Equity Bulls

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