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Our Bureau Sterlite Power has acquired Standard Chartered Private Equity (SCPE)’s 28.4 per cent stake in its transmission infrastructure business for ₹1,010 crore.
With this acquisition, Sterlite Power owns the business fully. Sterlite Power had attracted an investment of ₹500 crore in 2014 from SCPE, which was the first private foreign investment in the Indian transmission sector.
Over the last three years, Sterlite Power has expanded its portfolio from three projects in India to 15 projects across India and Brazil and now has a footprint spanning 26 States across two continents.
“With this acquisition we reiterate our excitement about the unprecedented growth opportunity in the power transmission sector. Our track record and superior execution capabilities position us well to capitalise on this opportunity,” said Pratik Agarwal, Group CEO, Sterlite Power.
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