In the NBTL transmission project, more than 1000 MW of power will be transmitted from Assam to Meghalaya. Sterlite Power had taken over the NBTL SPV for the execution of the inter-state power transmission system project in December 2021.
March 8, 2022
Sterlite Power Transmission Ltd., has secured INR 440 crore funding from Tata Cleantech Capital for the Nangalbibra-Bongaigaon Transmission Ltd (NBTL) project. The project involves developing 300 circuit km of power transmission lines and a new substation with the transformation capacity of 320 MVA across Assam and Meghalaya. Tata Cleantech Capital, a joint venture between Tata Capital Limited and International Finance Corporation, is the first private sector climate finance institution in the Green Banking Network space.
In December 2021, Sterlite Power had acquired the NBTL SPV for the execution of the inter-state power transmission system project. Within the NBTL project, more than 1000 MW of power will be transmitted from Assam to the western parts of Meghalaya. In addition to bringing surplus power supply, the project will also aid in decongesting the downstream networks in the region, which will enhance the quality and reliability of power in the North-Eastern region of India.
Presenting his views on the recent financing, Mr. Pratik Agarwal, Managing Director, Sterlite Power, asserted, “We are pleased to conclude this deal with Tata Cleantech Capital which is a first-of-its-kind climate finance institution that is working towards climate change mitigation in India.”
Speaking about the investment, Mr. Manish Chourasia, Managing Director, Tata Cleantech Capital Ltd, remarks, “India’s power transmission sector is playing a critical role in the country’s transition to a net-zero carbon future. Our objective at Tata Cleantech Capital is to support and invest in green energy sectors and the long-term financing of this project is a step in that direction.”
The company added that Sterlite Power has carved a strong track record of successfully undertaking complex projects and has set new benchmarks in the power sector utilising cutting-edge technologies and innovative financing.