Sterlite may enter power storage business

26 July 2024

Sterlite Power Transmission Ltd will consider entering the power storage business, joining a bunch of aspirants eyeing the fledgling sector as rising power demand and generation open up new business prospects. This month, billionaire Anil Agarwal-led Sterlite Power Transmission got approval from the capital markets regulator to launch an initial public offering. According to its draft share sale documents, transmission segment investments may rise to ₹3.5-4 trillion over the next five years, driven by the need for a robust transmission system to support continued generation additions, the push to the renewable energy sector and rural electrification.