Annual Report: 2022
Sterlite Power is a global developer of power transmission infrastructure focused on addressing the toughest challenges of energy delivery at the intersection of time, space, and capital. The company, founded in 2016, has projects in India and Brazil with a portfolio of 28 projects and around 13,700 circuit kilometers of transmission lines. Sterlite Power is also a bare overhead conductor manufacturer, exporting to over 60 countries. It sponsors IndiGrid, India's first power sector Infrastructure Investment Trust (InvIT).
Corporate Overview: Sterlite Power has three business divisions:
Key Performance Indicators (FY22):
Key Milestones: The report details the key milestones in the company's growth from 2006 to 2021. These milestones include acquiring power business from Sterlite Industries Ltd., winning India's first independent Power Transmission Project, establishing Master System Integrator service line, acquiring the RAPP Transmission Company Ltd., achieving 3 million safe person hours at MSI projects with zero harm, addition of three Inter-State Transmission System projects, pioneers in Live-Line Reconductoring Technology in India.
Technology Leadership: Sterlite Power is adopting global best practices in the power transmission sector through technology leadership by using aerial technology, unmanned aerial vehicles (UAVs), heli-cranes, and digitalizing operations. The company aims to utilize robotics and other innovative products, smart projects for modern grid, and technologies for a greener ecosystem.
Operational Overview: In India, Sterlite Power has a total portfolio of 17 transmission projects, spanning more than 9,529 circuit kilometers, through a total capex of 25,262 crores. In Brazil, the company has a portfolio of 13 transmission projects, spanning 4,416 circuit kilometers, through a total capex of ₹11,983 cr. A multi-pronged investment strategy provides opportunities for success. Sterlite Power follows industry recognized QHSE standards.
MSI and Products Business: With value differentiators such as integrated manufacturers, customer relations, operations and delivering solutions on turnkey basis.
Convergence: Sterlite Power business is entering a Public-Private Partnership (PPP) with Gurugram Smart City to build an intra-city fiber network.
Quality Excellence: This is maintained through a defined Quality Excellence Model that emphasizes customer satisfaction, sustainable & reliable assets, and "first-time-right" products, managed with Leadership and continual improvement.
Building a Safe Work Environment: Which is achieved through safety and quality standards and training programs and awareness.
Impacting Lives: As part of its CSR commitment, Sterlite Power supports various initiatives to improve the lives of the communities in which it operates. These include providing essential health items, providing employment, multiple livelihood training, and skilling programmes.
Economic Overview (Global): The world economy grew by 5.9% in 2021 but is expected to moderate in 2022 and 2023 due to supply chain disruptions, energy price volatility, and the war in Ukraine.
Economic Overview (India): India's economy grew by 8.2% in 2021 and is expected to continue growing in 2022 and 2023, although rising energy and food prices present challenges.
Economic Overview (Brazil): Brazil's economy recovered in 2021 after contracting in 2020, but high inflation and unemployment are weighing on the outlook.
Industry Overview: The global chorus on decarbonisation has grown stronger than ever before and in 2021, global energy transition investment totaled $755 billion, up from $595 billion in 2020. However there is an evident decline in annual coal capacity additions.
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