IndiGrid to acquire NERES XVI transmission project from Techno Electric

IndiGrid Infrastructure Trust (IndiGrid) has signed definitive agreements with Techno Electric & Engineering Company Ltd (TEECL) to acquire NERES XVI Power Transmission Ltd (NPTL), an interstate transmission project in the Northeast, following its commissioning and receipt of necessary approvals.

The project includes a 400/220/132 kV substation with a total transformation capacity of 1,400 MVA and a 45 km double-circuit transmission line. It is targeted for completion by December 2026. TEECL will develop and execute the project as EPC provider, while IndiGrid will acquire it after commercial operations begin at a value not exceeding Rs 460 crore.

This transaction extends the ongoing collaboration between IndiGrid and TEECL. IndiGrid has previously acquired two operational transmission assets from TEECL, while TEECL has invested in two of IndiGrid’s under-construction projects, continuing to provide EPC services.

IndiGrid’s Managing Director Harsh Shah said the acquisition aligns with its strategy of disciplined growth through quality assets and builds on the partnership with TEECL. Techno Electric’s Managing Director Padam Prakash Gupta stated the project demonstrates the company’s execution strengths and reinforces investor confidence.