IndiGrid Expands with ₹460 Cr Acquisition in Northeast India

IndiGrid has signed definitive agreements with Techno Electric & Engineering Company Ltd. (TEECL) to acquire NERES XVI Power Transmission Ltd. (NPTL)—an inter-state transmission project located in Northeast India—subject to commissioning and regulatory approvals.

The acquisition, valued at up to ₹460 crore, is part of IndiGrid’s strategy to expand its portfolio through high-quality infrastructure assets. The project, scheduled for commissioning by December 2026, comprises a 400/220/132 kV substation with 1,400 MVA transformation capacity and a 45 km double-circuit transmission line.

TEECL will serve as the project’s developer and EPC contractor, while IndiGrid will provide active project oversight.

“This acquisition furthers our strategy of disciplined growth through high-quality projects,” said Harsh Shah, Managing Director of IndiGrid. TEECL MD Padam Prakash Gupta added, “We are delighted to deepen our partnership with IndiGrid through this strategically important project in the Northeast.”

This marks IndiGrid’s third transaction with TEECL, having previously acquired two operational transmission assets. IndiGrid currently manages an AUM of ₹324 billion, with a portfolio of 43 power infrastructure assets, including transmission, solar, and energy storage systems.

News by Rahul Yelligetti.