Sterlite Grid, a developer of power transmission systems, has received the Letter of Intent (LoI) to set up power evacuation infrastructure in Odisha for local power projects.
The company claims that it is the lowest bidder for the power transmission project in Odisha with a levelized annual tariff of Rs 139.79 crore.
The transmission lines will form part of inter-state transmission network providing additional evacuation up to 5,000 MW of electricity from Odisha based plants.
As per the deal, Sterlite Grid will build, own, operate and maintain approx 300 km of 765 kV Double Circuit system strengthening line from Jharsugda to Raipur and approx 50 km of 400 kV Double Circuit line between OPGC Power Project and Jharsugda with approximate capital expenditure of Rs 1,250 crore.
The company said this is the eighth project won by Sterlite Grid under the Tariff Based Competitive Bidding mechanism. With this project, Sterlite Grid’s portfolio includes 23 Extra High Voltage (EHV) transmission lines and three substations with nearly 6,000 Circuit Km.
“We will execute this project on fast track to help country’s vision of uninterrupted power supply for all. We are confident that our talented team coupled with cutting edge technology will create a robust power evacuation network in record time,” said Pravin Agarwal, chairman of Sterlite Power Grid Ventures.
In the past one year, Sterlite Grid put 12 Extra High Voltage elements into operations adding 2,700 circuit km and 6,000 MVA of transformation capacity in the country. Its projects PKTCL, NRSS 29 and MTL, are on track and are also likely to be completed ahead of schedule.