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Home > Business > Sterlite Power to invest $10 b in transmission lines in 4 years

Sterlite Power to invest $10 b in transmission lines in 4 years

Afternoon Voice by Afternoon Voice
February 4, 2018
0

Sterlite Power, which last bought out its overseas PE investor from the transmission arm, looks to invest about $10 billion over the next three-four years to expand business in both domestic and overseas markets.

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.

“There is immense scope in the transmission business, especially after government opened up the sector to private players.

“Besides, there is huge opportunity in the international market and we expect to have projects worth $10 billion under management over the next three-four years,” Sterlite Power Group chief executive Pratik Agarwal said.

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The company currently has a portfolio 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 24×7 power supply, along with electric vehicles push, we expect nearly Rs 3 trillion will be spent on creating transmission network over the next five years,” he said.

Agarwal expects though most of this projected Rs 3 trillion 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.

“We already enjoy 30 per cent market share in the projects awarded so far. So, if have to apply the market share to future opportunity then we can calculate the enormous potential that the market offers us,” he said.

Apart from the domestic market, Latin America, the US and Britain also have enormous potential.

“With already have $1 billion worth of investment in Brazil and hope to gain a significant share in the other markets as well,” Agarwal said.

Tags: Afternoon VoiceBrazilBusinessdomestic marketLatin AmericaPratik AgarwalSterlite PowerUS
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