'We will double manufacturing revenue to ₹12,000-cr in 2 years'

Sterlite Power, a subsidiary of Vedanta Group, plans to invest 1-2 billion in its transmission business every year, and another 100 million in manufacturing, as part of plan to double revenue from this segment to ₹12,000 crore, PRATIK AGARWAL, managing director, Sterlite Power, told ARUNIMA BHARADWAJ in an interview. The group also plans to expand its renewable energy capacity by adding 2 giga watt GW) annually, starting FY26, said Agarwal, who is on the board of group firm Serentica Renewables, said. With no overseas expansion plans right now, Agarwal sees India as a viable market for low-cost manufacturing for advanced products. Edited Excerpts:

- ARUNIMA BHARADWAJ

PRATIK AGARWAL, MANAGING DIRECTOR, STERLITE POWER

What are your future growth plans for Sterlite Power and group firm Serentica Renewables? What kind of investment plans are being lined up for the two?

Serentica (RE) and the transmission are both capital-intensive, and in both these businesses, we expect to invest $1-2 billion every year for new asset creation. Manufacturing business is less capital-intensive, and there we plan to spend about $100 million in capex over the next few years. We aim to double revenues from Sterlite Power's manuacturing business to ₹12,000-13,000 crore in the next two years.

Further, in renewables, we currently have contracts to supply 10 billion units (BU) of power every year and in the next five years, we hope to take that number to 40 BU. At 40 BU, 2% of India's total power consumption will come from Serentica.

What are the new power transmission projects under progress?