Transmission infrastructure developer Sterlite Power on Monday said the company bought back a 28.4 per cent stake from Standard Chartered private equity (SCPE) in its transmission infrastructure business. With the Rs 1,010 crore worth transaction, Sterlite will now own 100 per cent stake in this business. The exit will help SCPE double the investment it made in 2014. Sterlite Power has close to 30 per cent market share in the tariff-based competitive bidding segment for transmission infrastructure projects. Sterlite Power has power transmission infrastructure projects of over 10,000 circuit kilometres and 15,000 MVA in India and Brazil. With the government's focus to ensure power for all by 2019, the country's power transmission sector is witnessing a huge impetus. The past two years have witnessed a significant amount of deal activity with companies like Adani Transmission investing in transmission assets. While the power generation sector struggles with low demand and high fuel costs, the transmission sector has emerged as a source of stable and assured returns.
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