Sterlite Power has achieved financial closure for its Kishtwar Transmission Limited (KTL) project located in Jammu and Kashmir.
It has successfully secured the entire debt funding of Rs 3.05 billion from Aseem Infrastructure Finance Limited – an NBFC–IFC (non-banking finance company – infrastructure finance company), promoted by the Strategic Opportunity Fund of National Investment and Infrastructure Fund, with anchor investments from Government of India and Japan’s Sumitomo Mitsui Banking Corporation. Notably, Sterlite Power acquired the KTL special purpose vehicle in December 2022 to execute the inter-state transmission system project. The project involves construction of a transmission system comprising of a 400/132 kV gas-insulated switchgear (GIS) substation at Kishtwar and a 400 kV transmission line from Kishenpur to Dulhasti. The transmission system will aid evacuation of 1,000 MW of power from Pakaldul hydroelectric project to the Kishtwar substation.