IndiGrid to Buy Transmission Project from TEECL for up to ₹460 Crore

IndiGrid Infrastructure Trust has signed binding agreements on 20 August 2025 with Techno Electric & Engineering Company Limited (TEECL) for the acquisition of NERES XVI Power Transmission Limited (NPTL). The acquisition will take place in one or more tranches, once the project reaches its Commercial Operation Date (COD). 

The enterprise value will not exceed ₹460 crore, subject to standard closing adjustments and lock-in restrictions under the Transmission Service Agreement (TSA). The project, situated in Northeast India, consists of a 400/220/132 kV substation with 1,400 MVA transformation capacity and a 45 km double-circuit transmission line, targeted for commissioning by December 2026.

Strategic Importance and Partnership with TEECL

This acquisition is in line with IndiGrid’s strategy to ensure stable distributions for unitholders by investing in long-term contracted power transmission assets. The transaction strengthens IndiGrid’s longstanding partnership with TEECL, which has previously supplied EPC solutions for IndiGrid’s projects and transferred operational transmission assets. 

Post commissioning, the asset is expected to generate ~₹49 crore in annual tariff revenues. As part of the arrangement, TEECL will handle the complete EPC execution and project management, while IndiGrid will oversee and acquire the project after COD.

Executive Remarks on the Transaction

As per the exchange filings, Harsh Shah, Managing Director of IndiGrid, said: “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, spanning acquisitions, co-investments, and EPC execution.”

Similarly, Padam Prakash Gupta, Managing Director of TEECL, said: “We are delighted to strengthen our collaboration with IndiGrid through this strategically important transmission project in the Northeast. TEECL has consistently delivered complex power transmission projects with a focus on quality, safety, and timely execution. This agreement underscores our ability to build high-value infrastructure assets that resonate with leading long-term investors such as IndiGrid. With our engineering and execution expertise and IndiGrid’s investment acumen, we are confident of creating sustainable value for India’s power sector and all stakeholders.”

Read More: IFC-IndiGrid Alliance to Build Nation’s Largest Utility-Scale Energy Storage Facility in Gujarat!

IndiGrid Infra Share Price Performance 

As of August 21, 2025, at 1:16 PM IndiGrid Infrastructure Trust share price is trading at ₹159.61 per share, reflecting a decline of 0.24% from the previous day's closing price. Over the past month, the stock has surged by 1.75%. The stock's 52-week high stands at ₹160.48 per share, while its low is ₹134.35 per share.

Conclusion 

The acquisition strengthens IndiGrid’s strategy of stable returns through quality assets and deepens its partnership with TEECL. With expected COD by December 2026, the project will enhance revenues and support India’s growing power transmission needs.

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