GIC and Sterlite Power forge JV for India's energy sector growth

02 Apr 2024 CW Team

With India's increasing energy demands, particularly in renewable energy, there is a pressing need for robust transmission infrastructure. IndiGrid aims to address this need by investing in and operating transmission assets across the country. This move aligns with India's ambitious renewable energy targets and the government's initiatives to strengthen the power infrastructure.

The collaboration between GIC and Sterlite Power signifies confidence in India's energy market and underscores the attractiveness of the country as an investment destination. GIC's involvement adds significant financial backing to the joint venture, enhancing its capacity to undertake large-scale projects.

Sterlite Power's proven track record in developing and operating transmission projects positions the joint venture for success. By combining Sterlite Power's local knowledge and experience with GIC's global investment expertise, IndiGrid is poised to play a pivotal role in India's energy landscape.

Furthermore, the partnership reflects the growing trend of strategic collaborations between international investors and Indian companies to capitalize on the country's vast potential in the energy sector. This joint venture not only signifies a major milestone for Sterlite Power but also reinforces India's position as a lucrative destination for infrastructure investments.

Overall, the GIC-Sterlite Power joint venture represents a significant step towards bolstering India's power transmission infrastructure, fostering sustainable energy development, and attracting foreign investment into the country's burgeoning energy sector.

GIC, Singapore's sovereign wealth fund, has announced its collaboration with Sterlite Power, an Indian power transmission company, to establish a joint venture. This partnership aims to capitalize on the burgeoning opportunities in India's energy sector. The joint venture, named IndiGrid, will focus on investing in power transmission assets within India, leveraging Sterlite Power's expertise in the field. With India's increasing energy demands, particularly in renewable energy, there is a pressing need for robust transmission infrastructure. IndiGrid aims to address this need by investing in and operating transmission assets across the country. This move aligns with India's ambitious renewable energy targets and the government's initiatives to strengthen the power infrastructure. The collaboration between GIC and Sterlite Power signifies confidence in India's energy market and underscores the attractiveness of the country as an investment destination. GIC's involvement adds significant financial backing to the joint venture, enhancing its capacity to undertake large-scale projects. Sterlite Power's proven track record in developing and operating transmission projects positions the joint venture for success. By combining Sterlite Power's local knowledge and experience with GIC's global investment expertise, IndiGrid is poised to play a pivotal role in India's energy landscape. Furthermore, the partnership reflects the growing trend of strategic collaborations between international investors and Indian companies to capitalize on the country's vast potential in the energy sector. This joint venture not only signifies a major milestone for Sterlite Power but also reinforces India's position as a lucrative destination for infrastructure investments. Overall, the GIC-Sterlite Power joint venture represents a significant step towards bolstering India's power transmission infrastructure, fostering sustainable energy development, and attracting foreign investment into the country's burgeoning energy sector.

Infrastructure Transport

17 Sep 2025

Adani wins Kedarnath ropeway project to cut trek to 36 minutes

Adani Enterprises Ltd (AEL) has secured the contract to build a 12.9-km ropeway connecting Sonprayag with Kedarnath, a project expected to transform the pilgrimage experience. Awarded by National Highways Logistics Management Ltd (NHLML), the project will be executed under the National Ropeways Development Programme – Parvatmala Pariyojana.Currently, pilgrims undertake a gruelling nine-hour trek to Kedarnath. The ropeway will reduce this journey to just 36 minutes and can transport 1,800 passengers per hour in each direction, serving the nearly 20 lakh devotees who visit annually.The Rs 25,0..

Infrastructure Transport

17 Sep 2025

Gurugram Rapid Metro to shift from DMRC to GMRL control

The Haryana Mass Rapid Transport Corporation Limited (HMRTC) has begun the process of transferring Gurugram’s Rapid Metro operations from the Delhi Metro Rail Corporation (DMRC) to Gurugram Metro Rail Limited (GMRL). The decision was taken at HMRTC’s 62nd Board meeting, chaired by chief secretary Anurag Rastogi.Committees have been formed to oversee the transition, covering technical, legal, and operational aspects, with definitive timelines being prepared. Until the transfer is complete, the system will be managed jointly by DMRC and GMRL.The Rapid Metro has shown notable performance impr..

Infrastructure Transport

17 Sep 2025

Chandigarh Metro cost climbs to Rs 25,000 crore amid delays

The long-awaited Chandigarh Tricity Metro project has seen its estimated cost balloon to nearly Rs 25,000 crore, following delays in approvals by the Union Territory administration. The cost, which stood at Rs 23,263 crore in February 2025, has risen by Rs 1,737 crore in just seven months, according to officials.The matter was raised during the transport standing committee meeting of the Administrator’s Advisory Council, chaired by AAP state president Vijay Pal. A presentation by Rail India Technical and Economic Service (RITES) strongly recommended that the Metro is the most suitable mass r..