Sterlite Power has achieved financial closure for its Vapi II North Lakhimpur Transmission Limited (VNLTL) project by securing the entire debt funding of Rs 20.70 billion from Power Finance Corporation Limited (PFC).
The financial closure is achieved within four months of the SPV acquiring the project in June this year. The project is one of the largest inter-state transmission systems covering the Western region strengthening scheme-XIX and the North Eastern region strengthening scheme-IX. Further, this project aims to set up 179 ckt km of lines for critical system strengthening to decongest the Navi Mumbai transmission corridor by bringing in an inter-state transmission feed of about 1,000 MW.