Avendus Capital advises Sterlite Power on its fundraise

Overview

Sterlite Power, one of India’s leading private power transmission developers, and an affiliate of GIC, have announced the signing of definitive agreements to set-up a new platform to develop and operate power transmission projects in India. Sterlite Power will own the majority stake of 51% and GIC will own the remaining 49% stake.

Avendus Capital was the joint financial advisor to Sterlite Power on the transaction.

Deal Value

Undisclosed

Service

Private Equity

Sector

Infrastructure & Real Assets

Date

Mar 2024

India's renewable vision calls for investments in transmission to unlock the full potential of 500 GW of renewable power. This joint venture signals global confidence in India's transmission sector. With GIC as our partner, we are poised to play a leading role in India's transmission sector, with an immediate opportunity in the USD 13 billion bid pipeline.

Pratik Agarwal

Managing Director

It was an enriching experience working with Pratik, who has created a platform like Sterlite Power in just over a decade. Sterlite has all the capabilities that any global investor will look for, making it a prized partner in this segment. We take pride in being the joint financial advisor to the company, and conceptualising a transaction construct that creates value for Sterlite Power and its partner. The investor interest this process garnered was unparalleled, as we saw participation from a wide gamut of global financial investors.