New Delhi (September 16, 2015): Sterlite Power Grid Ventures Limited (Sterlite Grid), a subsidiary of Pune based Sterlite Technologies Limited (BSE: 532374, NSE: STRTECH), announced commissioning of its Jabalpur Transmission Project. On September 12, Sterlite Grid charged 379 Km long 765 kV Double Circuit Dharamjaygarh - Jabalpur Transmission Line, which is the longest 765 kV line in the country. Earlier in June 2015, Sterlite Grid successfully commissioned the other element of 236 Km Jabalpur - Bina Transmission Line. By commissioning both the elements of Jabalpur Transmission Company Limited (JTCL), Sterlite Grid has become the first private developer to complete 765 kV Double Circuit Transmission System.
Dharamjaygarh - Jabalpur line will allow evacuation of over 5,000 MW of power by adding transmission capacity from power generating plants in Chhattisgarh and Odisha to key load centers in Western and Northern region. This will provide long awaited relief to these power generating centers where thousands of MW remained choked for the need of transmission capacity.
Sterlite Grid has already commissioned ENICL (East North Interconnection Co Ltd) and BDTCL (Bhopal Dhule Transmission Co Ltd). With commissioning of JTCL, Sterlite Grid operates over 2,800 circuit KM of EHV transmission lines and 6,000 MVA of transformation capacity across 7 states integrated with national grid. These projects play key role in creating a robust ring for evacuation of electricity in the Western Region.
"Besides eliminating bottlenecks in connecting power producers and distribution entities, the project will ensure stability and reliability of the grid. By commissioning JTCL project, Sterlite Grid has showcased that private developers have come a long way to play a pivotal role in the government’s mission to provide uninterrupted power to all by 2022," said Sterlite Grid Chairman Pravin Agarwal. He added that Sterlite Grid is committed to build robust power transmission assets that are critical for the National Grid.
Sterlite Grid’s portfolio consists of seven power transmission assets owned via Special purpose vehicles (SPVs) consisting of ~ 5,500 circuit Km and 6,500 MVA of transformation capacity. Three of the SPVs,East North Interconnection Co. Ltd (ENICL), Bhopal Dhule Transmission Co. Ltd (BDTCL) and Jabalpur Transmission Co. Ltd (JTCL) are commissioned and operates as part of the National Grid. The remaining four SPVs - RAPP Transmission Project, Purulia & Kharagpur Transmission Project, NRSS XXIX Transmission Project and Maheshwaram Project are at advance level of implementation.
ABOUT STERLITE GRID
Pune headquartered Sterlite Technologies Limited (BSE: 532374, NSE: STRTECH), ventured into power transmission space through Sterlite Grid in 2010. In a short span, Sterlite Grid has built strong portfolio of seven projects spanning nearly 5,500 Circuit Kms, entailing a total investment around Rs 8,500 crore. The company is known for its pioneering work in inducting aerial technologies such as LiDAR Survey and Heli-Stringing for transmission project execution in India.
ABOUT STERLITE TECHNOLOGIES
Sterlite Technologies Limited (STL) develops & delivers solutions for high speed data communication and power transmission networks, globally. STL is among the global leaders in all its business areas through its operations in India, China & Brazil. STL is developing several network projects across India including secure communication network creation in Jammu & Kashmir for Indian army, enabling Bharatnet, establishing urban high speed fiber to the home (FTTH) networks and multiple interstate ultra mega power transmission projects. Listed on Stock Exchanges BSE & NSE in Mumbai, India, Sterlite Technologies is a public company with broad shareholder base. The company has recently announced a demerge of its power products and transmission business into a new company. Sterlite Technologies to remain a pureplay telecom focused company.
Forward-looking and cautionary statements: Certain words and statements in this release concerning Sterlite Technologies Limited and its prospects, and other statements relating to Sterlite Technologies' expected financial position, business strategy, the future development of Sterlite Technologies' operations and the general economy in India, are forward looking statements. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of Sterlite Technologies Limited, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Sterlite Technologies' present, future business strategies, and the environment in which Sterlite Technologies Limited will operate in the future. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of Sterlite Technologies' industry, and changes in general economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Sterlite Technologies' control, include, but are not limited to, those risk factors discussed in Sterlite Technologies' various filings with the National Stock Exchange, India and the Bombay Stock Exchange, India. These filings are available at www.nseindia.com and www.bseindia.com.