Financial Innovation: Establishing the Asset-Flip Model
Sterlite Power is the sponsor of India Grid Trust (IndiGrid), India’s first power sector InvIT and SIML, a subsidiary of Sterlite Power, is the Investment Manager for IndiGrid. Through an asset flip model, Sterlite Power transfers fully operational assets to the Trust and redeploys the capital for developing new assets. On May 4th, 2019, IndiGrid announced the closing of a preference unit issuance worth `2,514 Cr (US$359 Mn). As part of the transaction, KKR and GIC invested ` 1,084 Cr (US$154 Mn) and ` 980 Cr (US$140 Mn) respectively, to collectively own 42% of IndiGrid’s outstanding units. KKR has also applied to become a sponsor of IndiGrid and plans to acquire an additional 15% of IndiGrid’s total units from Sterlite Power. Following the closing of the transactions, KKR and GIC will collectively own approximately 57% of IndiGrid’s outstanding units.
Sterlite Power aims to expand its global footprint in power transmission sector to a portfolio worth US$10 Bn by 2021-22, and the investment made by KKR in its infrastructure investment trust would play a crucial role in achieving it. With this deal, Sterlite Power aims to tap international capital to finance opportunities globally and to scale up the asset under management.
ASSETS TRANSFERRED TO INDIGRID
AUM (Assets under Management) as of March 31, 2019
UNIT HOLDING PATTERN (%) (JULY 26, 2019)
Technology Leadership
An evolving world needs revolutionary solutions. Sterlite Power has led the way in adopting globally-benchmarked, state-of-the-art practices in the legacy-driven power transmission segment.
Aerial Technology for Project Execution
- First use of helicopter stringing in India
- Helicrane-based tower erections in tough terrains
- LIDAR surveys, satellite imagery to enhance terrain information
Asset Planning and Monitoring using Drones & Robotics
- Aerial Technology for automated inspection & data analytics
- Planning services by unmanned aerial vehicles
- Robotics (Skyrob) for safe and efficient OPGW stringing
- IoT based remote monitoring for colocation assets
Zero Shutdown Capability
- Re-conductoring of transmission lines in ‘live line conditions’
- India’s first live line project in Bangalore
Design Engineering & Digital Platforms
- SPEX & BIM5D - Integrated planning and project management system
- TransAnalyst – In-house platform to generate most optimum transmission line route
- Subsurface Terrain Model (STeM) – Improving predictability of soil characteristics through data analytics for foundation design
- In-house power system study capability and simulation tools
Eco Innovation
- Tree translocation
- Monopoles to reduce space footprint
- Green colocation in Convergence
- Power Voltage Transformers to energise telecom equipment
Safety First
We believe in the philosophy that all injuries, incidents and occupational hazards are preventable. With a ‘zero accidents’ vision in mind, we consistently strive to achieve high Quality, Health, Safety and Environment (QHSE) standards for a sustainable workplace.
WORKSITE SAFETY
At Sterlite Power, safety is at the heart of every project and every individual associated with us. We are committed to meet or exceed the quality expectations of our stakeholders. Our focus on safety does not end at our employees. We make sure that the third-party employees and subcontractors associated with us also get a safe working environment.
MANDATORY BOOT CAMPS
Apart from adhering to strict safety rules and regulations, we make sure that none of our employees work at the Safety project site without any proper training. Mandatory ‘boot camps’ are organized by us from time-to-time to ensure that right training is provided to all our employees. This is our way to make sure that our workforce is ready for all challenges when they step out into the field.
