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Home News Power Sector News Reliance Power Transmission (RPTL) signs pact with Western Region Utilities

Reliance Power Transmission (RPTL) signs pact with Western Region Utilities

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Anil AmbaniReliance Power Transmission Ltd (RPTL), a wholly owned subsidiary of the Anil Ambani-promoted Reliance Infrastructure Ltd, has signed power transmission agreements with 8 utilities in the western region of the country to supply electricity there.

In 2007, RPTL's sub-units bagged the first ever power transmission licences issued to 100% privately-owned inter-state transmission projects in the country by the Central Electricity Regulatory Commission. Under the projects, the company will engage in engineering, procurement and construction work of the power transmission lines under the Western Region System Strengthening Scheme (WRSSS) II. Once the project is operational, RPTL will also carry power from the north-eastern grid to the western region.

The power transmission agreements with the dedicated customers will now pave the way for RTPL to achieve financial closure for the Rs 1,800 crore project, a company spokesperson said. "The financial closure for the project is not achieved. We expect to achieve it in a couple of months," the spokesperson added.

RPTL has already spent a small amount on the project from the equity component of the funding, he added. "About 75% funding of the project will come from debt, which will be tied up now," he said. The company expects to complete the project by the end of 2010. The government, recognising the huge need to strengthen India's power transmission network in line with the increase in generation capacity, decided to open up the sector and invite private participation.

The state-owned Power Grid Corp of India Ltd had invited tariff-based competitive bids in 2005 for laying 1,500 km of transmission lines under the WRSSS II. Power Grid is working on awarding other similar projects. Companies such as Tata Power, Lanco, GMR, Larsen & Toubro, among others, have already shown interest in the sector.

Source - DNA

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