Sterlite Power has secured Rs 2,400 crore funding from REC Power Development and Consultancy Ltd (RECPDCL) for its Beawar transmission project in Rajasthan. The project, which aims to evacuate around 20 GW of renewable energy, will involve the construction of a 350 km, 765kV transmission corridor and a 3000 MVA 765/400kV substation.
Serentica Renewables, which raised Rs 3500 crore for its power plants, wants the government to introduce a production-linked incentive scheme for critical components. The company has signed contracts to deliver 1600 megawatts of round-the-clock power to entities within the Vedanta group, requiring the construction of 4000 megawatts of capacity. The project will cost $3.1 billion, with $2.2 billion in debt financing.
The industry says the government’s focal point should shift towards green hydrogen, since it has steadfastly supported the renewable energy sector, leading to a significant expansion in installed and manufacturing capacities.
Serentica Renewables: The loan is earmarked for the company s ambitious Round-The-Clock renewable energy project, marking a pioneering step in the Indian corporate offtake market.