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IndiGrid to Acquire NERES XVI Transmission Project from Techno Electric

IndiGrid has signed definitive agreements with Techno Electric & Engineering Company Ltd. (TEECL) to acquire the North Eastern Region Strengthening Scheme (NERES) XVI Power Transmission Ltd. (NPTL) after the project achieves commercial operations and necessary approvals. The project, strategically located near IndiGrid’s existing assets in the Northeast, includes a 400/220/132 kV substation with 1,400 MVA transformation capacity and a 45 km double-circuit transmission line. The commissioning target is December 2026.

TEECL will develop and execute the project as the EPC contractor, while IndiGrid will provide oversight to ensure quality and timely completion. Post-COD, IndiGrid will acquire the asset for a value not exceeding ?460 crore.

IndiGrid’s Managing Director Harsh Shah emphasized that the acquisition supports the company’s strategy of disciplined growth through high-quality assets, strengthening its long-term partnership with TEECL. Over the years, IndiGrid has acquired two operating transmission assets from TEECL, while TEECL has co-invested in IndiGrid’s under-construction projects. This new collaboration deepens the relationship by combining TEECL’s EPC expertise with IndiGrid’s strong governance and risk management.

TEECL’s Managing Director Padam Prakash Gupta noted that the deal underscores TEECL’s ability to deliver complex, high-value transmission projects with a focus on quality, safety, and timely execution. The partnership represents a model of sustainable infrastructure development, combining IndiGrid’s investment capacity with TEECL’s execution capabilities.

This acquisition aligns with IndiGrid’s strategy of building a robust transmission portfolio, ensuring predictable value creation, and expanding its presence in the Northeast, a region crucial for India’s power evacuation and reliability goals.