AMP Capital has established an equal partnership with Sterlite Power Transmission Ltd. for the development of energy transmission projects in India.
AMP Capital and Sterlite Power would each invest an initial amount of about $150 million in the development of four transmission projects, and had put in place debt financing, representing a total capital outlay of about $1 billion, they said.
“These projects have a circuit length of nearly 1,800 km of transmission lines across the western, southern and northeastern regions of India. They will provide the critical infrastructure required for evacuating power from multiple renewable energy generation projects and strengthen the power delivery infrastructure in the country,” they added.
“The partners may contribute further capital for inter-State transmission projects, expected to be tendered by the Government of India. Therefore, the partnership has the potential to reach an overall investment size of $500 million,” the firms said.