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

The enterprise value of the acquisition will be up to Rs 460 crore. The project, targeted for commissioning in December 2026, includes a 400/220/132 kV substation with 1,400 MVA transformation capacity and 45 km of double-circuit transmission line.

TEECL will execute the project as developer and EPC provider, with IndiGrid ensuring active oversight. Harsh Shah, MD of IndiGrid, said, "This acquisition furthers our strategy of disciplined growth through highquality projects." TEECL MD Padam Prakash Gupta added, "We are delighted to strengthen our collaboration with IndiGrid through this strategically important transmission project in the Northeast." 

IndiGrid has earlier acquired two operating assets from TEECL and continues joint collaborations. Currently, IndiGrid manages Rs 324 billion AUM, owning 43 power projects including transmission, solar, and storage assets.