Sterlite Power Secures INR 2,000 Crores in Orders for GPS Business
Sterlite Power experienced a significant uptick in orders for its Global Products and Services (GPS) business in the second quarter of FY’24. The orders, amounting to approximately INR 2,000 crores, mark a notable rise of INR 700 crores compared to the previous quarter, Q1 FY24. The company's strong performance mirrors the robust global demand for transmission infrastructure components, influenced by the ongoing energy transition trend. Sterlite Power has amassed a cumulative total of INR 3,300 crores in orders during the first half of the fiscal year.
The recent orders encompass advanced and eco-friendly products such as conductors, OPGW, cables, and specialized Engineering, Procurement and Construction (EPC) services. These orders originate from both domestic and international markets. Sterlite Power continues to play a significant role in India's transition toward a sustainable grid by securing major orders for notable projects, including Power Grid Corporation of India Ltd's 765kV D/c BHADLA III - SIKAR II (Part - 1) and the supply of OPGW cables for Part E transmission project in Rajasthan, supporting the renewable energy evacuation endeavors in the western region of India. Furthermore, internationally, the company is strengthening its presence in the Americas, Africa, and the Middle East.
The Power Cables division has also achieved notable victories for crucial infrastructure projects, spanning metros, data centers, hospitals, and power ventures. Particularly, Sterlite Power will supply 33kV cables for Phase 2 of the Ahmedabad Metro rail and Phase 1 of the Surat Metro rail projects, contributing to faster and more efficient transportation for millions of people. Additionally, the company will furnish 132kV cables for the Sawai Mansingh Hospital Expansion Project in Jaipur and 33kV cables for energy-intensive data centers in Bengaluru, ensuring a continuous and reliable power supply for these vital services.