M&A

M&A

Sterlite Power acquires Kishtwar Transmission Project in J&K from PFC

Press Release  

Power transmission developer and solutions provider Sterlite Power has acquired Kishtwar Transmission Ltd, a Special Purpose Vehicle (SPV) from PFC Consulting Ltd (PFCCL). PFCCL is a wholly-owned subsidiary of Power Finance Corporation Ltd (PFC), a Maharatna Public Sector Enterprise (PSE). The project was awarded to Sterlite Power through Tariff Based Competitive Bidding (TBCB) process in March 2022. Through the Kishtwar Transmission SPV, the company will build, own, operate and maintain a critical transmission project in Jammu & Kashmir (J&K) for 35 years. The project will comprise a 400/132kV GIS substation at Kishtwar and 400 kV Kishenpur-Dulhasti LILO (Line in Line out) transmission line.