IndiGrid to Acquire ₹460-Crore Transmission Project from TEECL in Northeast

India Grid Trust (IndiGrid), the country’s first and largest publicly listed power sector InvIT, 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, at an enterprise value capped at ₹460 crore.

The acquisition will take place post commissioning of the project, expected by December 2026, and upon receipt of necessary approvals. Located close to IndiGrid’s existing assets, the project comprises a 400/220/132 kV substation with 1,400 MVA transformation capacity and a 45 km double-circuit transmission line. Once operational, it is projected to generate annual tariff revenues of about ₹49 crore.

Under the agreement, TEECL will execute the project as developer and EPC contractor, while IndiGrid will acquire the asset post-commercial operation. This structure marks the latest step in the partnership between the two firms. IndiGrid has earlier acquired two operating assets from TEECL, while TEECL has invested in and delivered EPC execution for two of IndiGrid’s under-construction projects.

Harsh Shah, Managing Director, IndiGrid, said the deal aligns with the trust’s strategy of disciplined growth through quality projects. “Our association with TEECL has evolved into a strong and multi-faceted partnership spanning acquisitions, co-investments, and EPC execution. This transaction further deepens that relationship,” he said.

Padam Prakash Gupta, Managing Director, TEECL, said the project underscores the company’s ability to deliver complex power infrastructure assets. “With our execution expertise and IndiGrid’s investment acumen, we are confident of creating sustainable value for India’s power sector,” he noted.

IndiGrid currently manages assets worth over ₹32,400 crore, including 43 power projects spanning 53 transmission lines, 16 substations, solar generation assets, and a battery storage portfolio. Its investment manager is fully owned by KKR.