Power transmission company Sterlite Power has acquired Beawar Transmission, a special purpose vehicle (SPV) held by REC Power Development and Consultancy (RECPDCL), a wholly-owned subsidiary of REC, in Rajasthan.

Sterlite Power secured this project through the tariff-based competitive bidding (TBCB) process in August 2023.

The Beawar Transmission SPV is the conduit through which Sterlite Power will execute the green energy corridor project, on the build, own, operate, transfer (BOOT) model, spanning a contractual period of 35 years.

The company said this venture represents Sterlite Power’s nineteenth power transmission project in India under the TBCB process.

Sterlite Power has a portfolio value of approximately ₹120 billion (~$1.4 billion) in managed projects.

Pratik Agarwal, Managing Director, Sterlite Power, said, “Sterlite Power is proud to be at the forefront of building the green energy corridor that will facilitate the flow of 20 GW of renewable energy.”

The Beawar Transmission project encompasses the construction of three integral components:

Sterlite Power claimed that it will also become the first private transmission infrastructure developer in India to implement a Static Synchronous Compensator (STATCOM), a technology that enhances grid performance.

In March, Sterlite Power bagged an interstate transmission system project to evacuate 20 GW of power from renewable energy zones in Rajasthan under Phase III, Part-G.