Sterlite Power secures funding of Rs 20.7 billion from PFC for VNLTL project

November 3, 2020

Sterlite Power has achieved financial closure for its Vapi II North Lakhimpur Transmission Limited project by securing the entire debt funding of Rs 20.7 billion from PFC. The financial closure has been achieved within four months of the special purpose vehicle (SPV) acquiring the project in June this year. The project is one of the largest interstate transmission systems covering the Western Region Strengthening Scheme XIX and the North Eastern Region Strengthening Scheme IX. Further, this project aims to set up 179 ckt. km of lines for critical system strengthening to decongest the Navi Mumbai transmission corridor by bringing in an interstate transmission feed of about 1,000 MW.