Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, July 12 2018 - 21:56
Sterlite Power Wins 6 New Transmission Projects in Brazil
MUMBAI, India, July 12, 2018 /PRNewswire-AsiaNet/ --

- The company emerges as the first Indian company to invest close to USD 2 bn in
  Brazilian power transmission sector
- Projects entails 23 sub stations; 2,000 CKM of lines and 5,500 MVA of 
  transformation capacity

In the recently concluded auction for transmission projects in Brazil, Sterlite 
Power emerged as the largest winner, clinching 6 lots at an investment of 
roughly USD 1 bn, securing about 65% of the capex under auction. These critical 
projects will largely help move renewable power from northern and north eastern 
parts of Brazil with southern and south eastern regions where the load centers 
are located. By 2026, the total electricity consumption of the country is 
forecasted to increase to 741 TWh, indicating an average annual growth of 3.7% 
per annum. To cater to this jump in demand, a 64.1 GW expansion in installed 
capacity of the National Interconnected System (SIN) is planned over the next 
10-year period.

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Talking about Brazil and company's investment in the region, the Group CEO of 
Sterlite Power, Pratik Agarwal, said, "Brazil requires an incremental 61,800 km 
in transmission lines, and an increase of 199,200 MVA capacity. This makes the 
market very attractive to us and we have already committed ~USD 1.7 bn of the 
planned USD 4 bn in the region. We intend to develop global partnerships to 
execute our global portfolio of projects."

Brazilian power sector is characterised with policy and regulatory maturity. 
Given the strong contractual framework, including long concession tenures (30 
years), inflation-protected revenues (which help lower the forex risk), and 
auction-based bidding for projects which happen on a pre-announced cadence, the 
Brazil market presents an ideal setup for any private transmission player.

About Sterlite Power 

Sterlite Power is a leading global developer of power transmission 
infrastructure with projects of over 12,000 circuit kms and 20,500 MVA in India 
and Brazil. With an industry-leading portfolio of power conductors, EHV cables 
and OPGW, Sterlite Power also offers solutions for upgrading, uprating and 
strengthening existing networks. The Company has set new benchmarks in the 
industry by use of cutting-edge technologies and innovative financing. Sterlite 
Power is also the sponsor of IndiGrid, India's first power sector 
Infrastructure Investment Trust ("InvIT"), listed on the BSE and NSE.

For more details, visit:

Media contact:
Balaji Krishnaswami
Phone: +91-9971757474

Source: Sterlite Power Grid Ventures Limited