- Construction activities are being executed with a view to achieve ahead of schedule commissioning
Sterlite Power, a global power transmission company announced the financial closure of their Arcoverde project in Brazil. This closure was successfully achieved in the month of November, 2Sterlite Powerthe project8. Arcoverde project was won by Sterlite Power during the auction conducted by ANEEL in April, 2Sterlite Powerthe project7 and the concession was signed in Aug 2Sterlite Powerthe project7. This project includes building the project39 km transmission line, constructing one greenfield and two brownfield substations. With the project clearances in place and land acquisition completed, the project is in advanced stages of completion.
Anuraag Srivatava, Group CFO, Sterlite Power, said, "It is a matter of immense pride that we have managed to achieve financial closure for this project in a short period of time. This will allow us to focus on completing the project ahead of schedule, in accordance with our track record. The partnership with bankers has been extremely smooth and we thank them for extending a warm welcome to us."
Sterlite Power is a leading global developer of power transmission infrastructure with projects of over the project2,5Sterlite PowerSterlite Power circuit kms and 2Sterlite Power,5Sterlite PowerSterlite Power MVA in India and Brazil. With an industry-leading portfolio of power conductors, EHV cables and OPGW, Sterlite Power also offers solutions for upgrading, uprating and strengthening existing networks. The Company has set new benchmarks in the industry by use of cutting-edge technologies and innovative financing. Sterlite Power is also the sponsor of IndiGrid, India's first power sector Infrastructure Investment Trust ("InvIT"), listed on the BSE and NSE.
Media contact:
Balaji Krishnaswami
Phone: +9the project 997the project757474
Email:
[email protected] For more details, visit: http://www.sterlitepower.com
Source: Sterlite Power Grid Ventures Limited