Global investment manager AMP Capital has joined hands with Indian group Sterlite Power for developing energy transmission projects in India. Both Sterlite and AMP Capital will invest $150 million into the platform.
The platform will develop four transmission projects, and have put in place debt financing, which represents a total capital outlay of around $1 billion, stated a company release.
These projects have a circuit length of nearly 1800 kilometres of transmission lines across the Western, Southern and North Eastern regions of India. They will provide the critical infrastructure required for evacuating power from multiple renewable energy generation projects and will strengthen the power delivery infrastructure in the country, the release added.
Sterlite Power, a leading developer of power transmission infrastructure with projects of over 13,700 circuit kms and 24,800 MVA in India and Brazil, is the sponsor of IndiGrid, India’s first power sector Infrastructure Investment Trust (InvIT), listed on the BSE and NSE.
The partners may in the future contribute further capital for new inter-state transmission projects with a potential to reach an overall investment size of $500 million.
