Power transmission company Sterlite Power, which recently won projects in Brazil worth $1 billion, is eyeing more international projects for increasing its global footprint. In India, as there is a slowdown in the large inter-state transmission corridors, the company is betting on growth in electricity reform bound states.
“There are power transmission projects, worth $8 billion, which will be up for grabs in countries such as Kenya, Nigeria, Chile, Argentina and Mexico. These markets are expanding their power access infrastructure and opening up to private investment,” said Pratik Agarwal, managing director and chief executive officer at Sterlite Power.
Power transmission has an annuity model and is a 30-year investment, which is lucrative for countries such as Brazil, he added. “The global power transmission market is growing. We are also on the same tangent. For Brazil, we are hiring aggressively and expanding our presence,” said Agarwal.
Last December, Sterlite Power won one of the largest power transmission projects in Brazil worth $800 million. This took the company’s total investment to $1 billion. Other players in the fray were State Grid of China, Engie Elecnor and Power Grid Corporation of India. The project accounts for more than 40 per cent capacity of the 11 projects that Brazil has put up for auction. Read More…