Sterlite Power’s GPS Unit Clinches INR 7,000 Crore Orders in FY24, Reflecting Surge in Demand for Renewable Energy Infrastructure

Sterlite Power, a prominent player in power transmission development and provider of products and services, concludes a successful fiscal year (FY24) with new orders worth INR 2,500 crores for its Global Products and Services (GPS) business unit in Q4. This brings the company’s cumulative order wins for FY24 to a substantial INR 7,000 crores, marking a notable 35% year-on-year increase compared to FY23. This surge reflects the growing global and domestic demand for robust power transmission infrastructure, particularly to facilitate the integration of renewable energy sources crucial for a net-zero future.

Pratik Agarwal, Managing Director of Sterlite Power, commented on the new order wins, emphasizing the company’s commitment to delivering premium, high-quality products that drive sector expansion amid the global shift towards energy transition and decarbonization. Agarwal highlighted the significant increase in demand for specialized high-performance conductors and underground cables as nations invest in stronger, higher-capacity transmission grids.

Key order highlights include:

• High-Performance Conductors & OPGW: Sterlite Power secured substantial orders in Q4 to supply conductors for green energy power transmission projects in Rajasthan, facilitating the evacuation of 20 GW of renewable energy to the National power Grid. Additionally, the company is exporting high-performance green products to customers across the Americas, European Union, Africa, and the Middle East. The OPGW segment also witnessed traction from Power Grid Corporation of India and state utilities like Uttar Pradesh Power Transmission Company Ltd. and Jharkhand Urja Sancharan Nigam Limited (JUSNL). Export orders for OPGW were secured in Africa and CIS markets.
• Power Cables: The demand for Power Cables aligned with the growth in renewable energy integration, urbanization, and grid expansion. Sterlite Power secured multiple orders to supply Extra High Voltage (EHV) & High Voltage (HV) cables for large-scale infrastructure projects underway in Madhya Pradesh, West Bengal, Karnataka, Odisha, and Gujarat.
• Specialized EPC Services: Sterlite Power’s specialized EPC services unit inked a turnkey project contract with Odisha state transmission utility to uprate its existing 132 kV Pratapsasan-Kesura-Ransinghpur transmission line using high-performance conductors (HPC). The project aims to offer a cost-effective solution to increase transmission capacity without requiring additional right-of-way, aiding Odisha in modernizing its power network to meet future load growth.