The trade is anticipating the federal government to invite bids for energy transmission infrastructure projects price ₹1.50 lakh crore in the subsequent 18 months, Sterlite Power Transmission mentioned on Thursday.
In December, the federal government had unveiled a plan with funding alternatives of about ₹2.44 lakh crore for constructing a transmission system for evacuating 500 gigawatts (GW) of non-fossil based mostly vitality by 2030.
“We expect that nearly 60-65% of these projects totalling ₹1,50,000 crore will come up for bidding in next 18 months since completion of all processes and then construction of projects will take another 4-5 years,” mentioned a senior Sterlite Power Transmission official.
The trade expects the federal government to invite bids below tariff based mostly aggressive bidding (TBCB) for energy transmission infrastructure projects because it accelerates creation of latest energy strains and inexperienced vitality corridors to combine rising share of renewable energy, the official mentioned.
As one among India’s main transmission corporations, Sterlite Power Transmission is eager to take part in the bidding course of to improve its TBCB market share past the present 31% degree.
The push to construct transmission infrastructure could have a major, multi-year impression on the order e-book for all of the enterprise strains of the corporate, the official mentioned, including his firm’s revenues rose 37% year-on-year (y-o-y) to ₹4,784 crore for the nine-month interval ended December 2022.
“The EBIDTA during this period rose 8% y-o-y to nearly ₹950 crore while the cash position has improved 4.8 times to ₹1,047 crore y-o-y for the corresponding period,” the official mentioned.
Sterlite Power Transmission just lately commissioned a significant inexperienced vitality hall mission, Lakadia-Vadodara Transmission Project Limited (LVTPL) in (*18*) with a capability of 5,000 MW.
With 812 towers spanning seven districts in (*18*), this transmission hall can also be one of many largest energy transmission corridors constructed in India until date. It has additionally concluded the sale of its Khargone Transmission Ltd. (KTL) asset to IndiGrid at an enterprise worth of about ₹1,497.5 crore.
