Sterlite Power secures Rs 305 crore funds

Sterlite Power on Wednesday said it has received funds worth Rs 305 crore from Aseem Infrastructure Finance to set up the Kishtwar Transmission Ltd (KTL) project in Jammu. The project involves construction of a transmission system comprising a 400/132kV GIS sub-station at Kishtwar and a 400 kV transmission line from Kishenpur to Dulhasti, the company said in a statement.

“Sterlite Power secures Rs 305 crore funding from Aseem Infrastructure Finance for Kishtwar Transmission project,” it said.

The transmission system will aid evacuation of 1,000 MW of power from Pakaldul Hydro Electric Project to the Kishtwar sub-station.

“This will be our second project in the region after delivering the mega NRSS Kashmir project ahead of schedule,” Akshay Hiranandani, Executive Director – Corporate Finance at Sterlite Power, said.

In December 2022, Sterlite Power acquired the KTL Special Purpose Vehicle.

Aseem Infrastructure Finance Ltd is a Non Banking Financial Company (NBFC) promoted by the Strategic Opportunity Fund (SOF) of National Investment and Infrastructure Fund (NIIF), with anchor investments from the Indian government and Japan’s Sumitomo Mitsui Banking Corporation (SMBC).

Sterlite Power is a leading private sector power transmission infrastructure developer and solutions provider with projects covering approximately 13,700 circuit kilometres of transmission lines across India and Brazil.