IndiGrid Acquires NERES XVI Project for Rs 460 Cr

Kolkata, Aug 21 (PTI) India Grid Trust (IndiGrid) on Thursday said it has signed definitive agreements with Techno Electric & Engineering Company Ltd (TEECL) to acquire its NERES XVI power transmission project in the northeast for up to Rs 460 crore.

The project, comprising a 400/220/132 kV substation with 1,400 MVA capacity and a 45-km double-circuit transmission line, is targeted for commissioning by December 2026.

TEECL will execute the project as developer and EPC provider, while IndiGrid will acquire it post commercial operations and necessary approvals, a statement said.

The deal marks the third such transaction between IndiGrid, the country's first listed power sector infrastructure investment trust, and TEECL, deepening their partnership in power transmission assets, it said.