Sterlite to spend Rs 500 bn on renewables; focus on K’taka

09 Nov 2022 CW Team

Sterlite Power, an arm of the Vedanta Group, is building over 1,000 megawatts of wind/solar hybrid projects in Karnataka, and will send the power to the smelters in Rajasthan, Chhattisgarh and Odisha through the inter-state transmission network.

“Over the next five years, we plan to increase our renewable capacity tenfold and invest close to Rs 500 billion in renewable generation. A large chunk of this investment will come to Karnataka,” said Pratik Agarwal, managing director, Sterlite Power.

Speaking at a Global Investors’ Meet, Agarwal urged the Karnataka government to adopt an intra-state transmission model through PPP (public-private partnership). “As electricity consumption grows at double digits, the state will need continuous strengthening of the grid. Many states have already tasted success with this model.

“We are already developing two critical transmission lines on behalf of the Government of India, one connecting Karnataka to Kerala and the other connecting it to Maharashtra via Goa. Both these lines will be critical for exchange of renewable energy in the coming years,” he said.

Agarwal said the next mission is to reduce India’s dependence on imported electronics. “We will begin by manufacturing semiconductors and reduce the $16-billion import bill on this account. We will also invest in display manufacturing, as we are already making display glass in Korea and Taiwan and we are the fourth largest in the world,” he said.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..