Sterlite Grid 32 Limited (SGL32) has raised Rs 24.50 billion through listed non-convertible debentures (NCDs) to refinance its Mumbai Urja Transmission Limited (MUML) project.
The MUML project was awarded to the joint venture in June 2020 through tariff based competitive bidding and is being developed on a build, own, operate, and maintain basis for a concession period of 35 years. The project is part of the green energy corridor, encompassing Western Region strengthening scheme-XIX (WRSS-XIX) and Northeastern region strengthening scheme-IX (NERSS-IX), spanning Maharashtra, Gujarat, Assam, and Arunachal Pradesh. The project aims to strengthen the transmission system in the Mumbai metropolitan region, with the capability to carry over 2000 MW of additional power to Mumbai and Navi Mumbai. It is also a critical component for integrating renewable energy into the national grid, facilitating the evacuation of 20 GW of green energy from Rajasthan