M&A
InvIT IndiGrid acquires transmission project in Northeast from TEECL for Rs.460-Cr
NSE Announcement Economic Times
Mumbai-based infrastructure investment trust (InvIT) IndiGrid has acquired NERES XVI Power Transmission Ltd, an interstate project in northeastern India, from Techno Electric & Engineering Company (TEECL) at an enterprise value of INR 460 crore.Incorporated in 2023 by REC Power Development & Consultancy Ltd, NERES XVI is a 400 kV substation at Gogamukh for providing reliable and secure power to upper Assam areas, as well as for providing additional feed and strength to the under-construction 132 kV Pasighat to Khupi corridor.
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