Sterlite Power, a power transmission developer, has achieved financial closure for its Beawar Transmission (BTL) project in Rajasthan.

The project has secured funds totaling about Rs 2,400 crore from REC Power Development and Consultancy, a wholly-owned subsidiary of Rural Electricity Corporation (REC). The project will connect the renewable energy zone at Fatehgarh-III to a proposed substation at Beawar in the state. The financial closure for the project came within four months of Sterlite acquiring the project.

Achieving an important milestone in a short span will reinforce the company in expediting the delivery of this critical project, which is an integral part of the larger green energy corridor that will help evacuate around 20 GW of renewable energy.

Sterlite Power acquired the BTL special purpose vehicle (SPV) in September 2023 to execute the inter-state green energy transmission project on build-own-operate-transfer (BOOT) basis for 35 years.