Sterlite Power Secures New Orders Worth INR 1500 Crores in Q1 FY’25
Sterlite Power has recorded a 15 percent quarter-on-quarter (QoQ) increase in order booking from Q1 FY’24
August 08, 2024. By News Bureau
Commenting on the new order wins, Reshu Madan, CEO, Global Products and Services, said, “The GPS business is witnessing remarkable expansion, reflecting the surge in the transmission sector and India's robust economic outlook. These new orders, spanning various segments, reflect the materialising of our strategic business growth goals and the increasing demand for our products both domestically and internationally.”
The overhead products are seeing strong demand for high-performance conductors and Optical Ground Wire (OPGW), driving growth in both domestic and international markets. The company secured major orders in Q1 for the supply of conductors, especially for Tariff Based Competitive Bidding (TBCB) transmission projects, thereby maintaining our market leadership in India and being the supplier of choice. The business has also secured orders from new export markets, thereby strengthening its export focus. The business has also secured orders for supply of OPGW across various domestic and international customers.
The power cable business is playing a crucial role in bolstering India's power infrastructure and enhancing measures towards disaster preparedness. “The company has secured major orders worth INR 250 crores for the supply of Medium Voltage (MV) cables under the Government of India's disaster management scheme, aimed at ensuring uninterrupted power supply in disaster-prone areas,” informed the company.
Further, Sterlite is also contributing to industrial modernisation, securing a turnkey project to replace ageing overhead power cable systems. The company shared, “These projects demonstrate our expertise in large-scale infrastructure projects and our commitment to providing reliable power distribution solutions. The business has also secured multiple orders in EHV, HV and MV cables category."
The business has secured a significant order to uprate two vital 66 kV lines for Gujarat Energy Transmission Corporation Limited (GETCO). This project will increase ampacity through line reconductoring by using high-performance conductors. This initiative marks a significant milestone, marking Sterlite Power's first HTLS reconductoring project in the western region.
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