Sterlite Power secures new orders worth INR 1,400 Crores in Q3 FY ’24
National, 30 January 2024— Sterlite Power has continued its robust performance with new orders worth ~INR 1,400 crores for its Global Products and Services (GPS) business in Q3 FY’24. This brings the cumulative order win for the first 9 months of FY24 to a strong ~INR 4,700 crores. These orders include high-performance power conductors, optical ground wire (OPGW), power cables from domestic and export markets. Further, the company has also received orders for specialized EPC services and turnkey EPC for EHV-HV Cables in the domestic market.
As a key driver of grid decarbonization, Sterlite Power has leveraged its position and conductor expertise to advance clean energy solutions. The rising demand for conductors, both domestically and internationally, reflects the commitment of key stakeholders towards achieving net-zero targets and transitioning towards sustainable energy. During Q3, Sterlite Power secured orders to supply conductors and OPGW for prestigious renewable energy evacuation projects. Notable projects include Power Grid Corporation of India limited 765 kV D/c BHADLA III – SIKAR II D/C Line (two packages), 400 kV D/c Part A1 & A3, Phase III (20 GW) project from a private client in Rajasthan. Further, the company continues to strengthen its global presence with large strategic orders from Latin America and Africa in order to strengthen the transmission network(s).
The Power Cable segment continues to see a positive outlook driven by essential infrastructure projects like renewable power generation, T&D infrastructure expansion, and metro railways. Sterlite Power’s new orders for metro, data center, and power projects reflect the escalating demand for cables in various infrastructure developments. The company will supply 110kV cables to Mumbai Metro, 220kV cables to a critical renewable project in Rajasthan, and cables for energy-intensive data centers in Pune, ensuring uninterrupted power supply for these crucial services. The company has also secured export orders in the subcontinent and bagged EHV cable orders in the domestic market.
Commenting on the new wins, Manish Agarwal, CEO, Global Products & Services business, stated, “We are happy to witness the growing momentum in the supply orders for conductors, OPGW and power cables. The order wins are indicative of the growing demand for our product offerings in India and export markets. With increased focus on decarbonization, our range of high-performance conductors, HV and EHV cables and specialized EPC services for cables transmission, continue to make a significant impact in the energy transition journey.”