Vedanta Group's Sterlite Power Transmission Ltd (SPTL) and Singapore's sovereign wealth fund GIC are forming a $1 billion platform for India's power transmission sector. GIC will invest $500 million for a 49% stake, and Sterlite Power will match the amount for a 51% stake. The JV will initially include five under-construction projects, with plans to expand. Sterlite Power will transfer four operational assets worth about ₹7,500 crores into the JV. This investment aims to support India's goal of increasing renewable energy usage and upgrading the national transmission grid. Read The Rest at :
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