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NRSS XXIX Transmission Limited, an SPV of Sterlite Power, one of India’s largest power transmission sector players operating the company’s flagship Northern Region Strengthening Scheme 29 (NRSS 29) project in Jammu & Kashmir, has raised ₹3,000 crore by issuing bonds on a private placement basis, the company said in a statement.
“These AAA bonds have been fully subscribed on the BSE BOND platform and will help to deepen the much needed infrastructure bond market in India,” Pratik Agarwal, Group CEO, Sterlite Power, said.
The company had last month announced commissioning of the NRSS XXIX project ahead of schedule. The ₹3,000-crore project included commissioning of three 400 kV ‘double circuit’ transmission lines and one 400/220 kV GIS substation to deliver over 1,000 MW of electricity from Punjab to the Kashmir Valley by strengthening the national grid.
The new transmission line will improve access to power in the Valley by augmenting the State’s power transmission capacity by at least 33 per cent, the company noted then.
Post commissioning, the company will operate and maintain the transmission line for a minimum tenure of 35 years.
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