Sterlite Power Receives Rs 580 Crore Funding From Rural Electrification Corp For Udupi-Kasargode Transmission Project

Sterlite Power has obtained funding worth Rs 580 crore from Rural Electrification Corporation Ltd (REC) for its Udupi Kasargode Transmission Project (UKTL).

The inter-state transmission project will be built across Karnataka and Kerala with two critical components that include the 1000 MVA 400/220 kV Gas Insulated Substation (GIS).

Construction of a 400kV (Quad) D/c transmission line over the 240 circuit km from Udupi to Kasargode is also one of the objectives under this project.

The UKTL is one of the greenfield transmission projects that Sterlite is developing under its recently-announced partnership with global investment manager AMP Capital.

Back in March 2021, Sterlite had rounded up its NER-II transmission project and then had sold it to power sector infrastructure investment trust IndiGrid, Economic Times reports.

“Sterlite Power has been successful in concluding a number of financial deals with global and national investors in the past. We are pleased to secure funding from REC - one of India’s largest financial institutions in the power sector, for this project,” Sterlite Power Group CFO Anuraag Shrivastava was quoted commenting on this recent development.