AMP Capital and Sterlite Power Transmission have set up a 50-50 joint venture partnership to develop energy transmission projects in India.
AMP Capital and Sterlite Power will each initially invest $150 million in the development of four transmission projects, which have a circuit length of nearly 1,800 kilometers (1,100 miles) of transmission lines across the western, southern and northeastern regions of India.
According to AMP Capital, these projects will provide the critical infrastructure required for evacuating power from multiple renewable energy generation projects and will strengthen the power delivery infrastructure in the country.
The joint venture has arranged debt financing for the projects, representing a total capital outlay of around $1 billion.
“India is a key target market for AMP Capital, and we have dedicated time and resources to finding a compelling investment opportunity suited to our clients,” said Sharat Goyal, head of India, i
