IndiGrid, the first and largest publicly listed Infrastructure Investment Trust (InvIT), has announced that it has finalized agreements with Techno Electric & Engineering Company Limited to take over the inter-state transmission project – NERES XVI Power Transmission Limited (NPTL).

Situated in the northeastern part of India, near IndiGrid’s current assets, the project includes a substation with a transformation capacity of 1,400 MVA at 400/220/132 kV, as well as 45 kilometers of double-circuit transmission line. The expected commissioning date is December 2026.

TEECL will act as both the developer and EPC provider for the project, while IndiGrid will offer active oversight and support. Following the achievement of commercial operation date (COD) and the acquisition of the necessary approvals, IndiGrid will purchase the project for a maximum value of INR 460 crores.

This deal further strengthens the longstanding collaboration between IndiGrid and TEECL. Throughout the years, IndiGrid has successfully acquired two operational transmission assets from TEECL, while TEECL has also invested in two of IndiGrid’s projects that are currently under construction, where it actively provides comprehensive EPC solutions.

With this latest agreement, their partnership has deepened as IndiGrid and TEECL continue to work together on a project structured for acquisition following COD.

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Commenting on the acquisition, Harsh Shah, Managing Director of IndiGrid, said, “This acquisition furthers our strategy of disciplined growth through high-quality projects. Our association with TEECL has evolved into a strong and multi-faceted partnership, spanning acquisitions, co-investments, and EPC execution. We are pleased to extend this relationship further, combining TEECL’s proven EPC expertise with IndiGrid’s track record of delivering predictable, sustainable value. Together, we aim to ensure timely and efficient project delivery, backed by robust governance, risk controls, and a shared commitment to infrastructure excellence.”

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Padam Prakash Gupta, Managing Director, Techno Electric & Engineering Company Limited, said: “We are delighted to strengthen our collaboration with IndiGrid through this strategically important transmission project in the Northeast. TEECL has consistently delivered complex power transmission projects with a focus on quality, safety, and timely execution. This agreement underscores our ability to build high-value infrastructure assets that resonate with leading long-term investors such as IndiGrid. With our engineering and execution expertise and IndiGrid’s investment acumen, we are confident of creating sustainable value for India’s power sector and all stakeholders.”