IndiGrid signs pact with TEECL for ₹460 crore transmission project in Northeast
21 August 2025
The inter-state project includes a 400/220/132 kV substation with 1,400 MVA capacity and a 45-km double-circuit transmission line.
New Delhi: IndiGrid, the country’s first listed power sector Infrastructure Investment Trust (InvIT), on Thursday said it has signed definitive agreements with Techno Electric & Engineering Company Limited (TEECL) to acquire a transmission project in the Northeast for an enterprise value of up to ₹460 crore.
The inter-state project — NERES XVI Power Transmission Limited (NPTL) — includes a 400/220/132 kV substation with 1,400 MVA capacity and a 45-km double-circuit transmission line. The project is targeted to be commissioned by December 2026, the official statement said.
IndiGrid said TEECL will develop and execute the project as EPC provider, while IndiGrid will acquire it post commissioning and regulatory approvals. The asset is expected to generate about ₹49 crore in annual tariff revenues.
“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,” IndiGrid Managing Director Harsh Shah said.
TEECL Managing Director Padam Prakash Gupta said, “This agreement underscores our ability to build high-value infrastructure assets that resonate with leading long-term investors such as IndiGrid.”
IndiGrid and TEECL have previously collaborated on acquisitions and co-investments. IndiGrid has acquired two operating assets from TEECL, while TEECL has invested in two of IndiGrid’s under-construction projects and continues to provide EPC solutions.