Sterlite Power to invest $10 bn in transmission lines in four years

Sterlite Power is seeking an investment of nearly $10 billion over the next three-four years for the expansion of its business in both domestic markets as well as overseas. The company had acquired the 28.4 per cent stake that Standard Chartered Private Equity (SCPE) held in its transmission business for Rs 1,010 crore, thus owning 100 per cent stake. The SCPE exited the company with over 100 per cent premium on its Rs 500 crore investment in made 2014. The current portfolio of the company consists of 15 projects, both completed and under-construction, across India (13 in total) and Brazil worth $4 billion. "Based on the entire thrust in the power sector with the focus on generation especially from the renewables on one side, and on the other the consumption push through the Uday scheme and 24x7 power supply, along with electric vehicles push, we expect nearly Rs 3 lakh crore will be spent on creating transmission network over the next five years,"  Sterlite Power Group chief executive Pratik Agarwal, said. Agarwal expects though most of this projected Rs 3 lakh crore investment would majorly come from government or public sector utilities, with the opening up of the sector to the private sector, global players will also come in to take their rightful market share.