Sterlite Power secures Rs 1,373 cr funding from PFC

New Delhi: Sterlite Power, a power transmission company, on Thursday said it has secured funds totaling Rs 1,373 crore from Power Finance Corporation (PFC), a Maharatna public sector enterprise, for its Neemrana-II Kotputli Transmission Ltd project.

According to the official press release, the company acquired the Neemrana-II Kotputli Transmission Ltd SPV in November 2023 to execute the green energy corridor on a build-own-operate, and transfer basis for a period of 35 years.

“We are pleased to conclude the financial deal for one of our largest GEC projects with PFC. This deal is a show of trust by PFC in our capability to deliver some of the most challenging and impactful transmission projects in the country,” said Raji George, Director-Corporate Finance, Sterlite Power.

Earlier in February 2024, the company achieved the closure of funding for Beawar Transmission Ltd from REC Power Development and Consultancy Limited – a wholly-owned subsidiary of REC.