Sterlite Power Transmission said that its Nangalbibra-Bongaigaon transmission project in northeast India has received financial closure from Tata Cleantech Capital to the tune of Rs 440 crore. The business claimed it has successfully received the whole debt investment of Rs 440 crore from Tata Cleantech Capital, the first private sector climate finance institution in the green banking network, in a statement released here.
“Sterlite Power is an active proponent of greening the grid, and we are committed to India’s ambitious RE goal of 500 GW by 2030,” Sterlite Power Managing Director Pratik Agarwal said. Sterlite Power acquired the NBTL SPV in December 2021 to execute the inter-state transmission system project. “This financial closure is achieved within two months of the SPV acquisition of the project,” it said.
Across the North-Eastern topography of Assam and Meghalaya, the project includes the building of 300 ckt km of transmission lines and a greenfield substation with 320 MVA transformation capacity. The NBTL project would send over 1,000 MW of power from Assam to Meghalaya’s western regions. It will assist decongest downstream networks in the region, enhancing the quality and reliability of power flow in northeast India, in addition to delivering more power flow.
