Techno Electric partners with IndiGrid for developing greenfield transmission projects

New Delhi: Techno Electric & Engineering Company, a prominent player in the power infrastructure sector, announced on Friday its strategic partnership with IndiGrid to co-develop two greenfield transmission projects. This partnership was formalized through the signing of a securities subscription cum shareholders agreement.

Details of the Partnership

Under this collaboration, Techno Electric will play a key role in the development of IndiGrid's two Interstate Transmission System (ISTS) projects — Ishanagar Power Transmission Ltd (IPTL) and Dhule Power Transmission Ltd (DPTL). These projects are pivotal for enhancing the transmission capacity and reliability of India's power grid, particularly in the context of integrating renewable energy sources.

According to the BSE filing, Techno Electric will invest minority capital in these projects, indicating its financial commitment to the partnership. In addition to its investment, Techno Electric will be responsible for the complete execution of the projects on a Lump Sum Turnkey (LSTK) basis. This means that Techno will handle all aspects of the project, from design and procurement to construction and commissioning, ensuring that the projects are delivered on time and within budget.

Significance of the Partnership

Techno Electric Chairperson Padam Prakash Gupta expressed his enthusiasm about the partnership, stating, "This partnership represents a significant milestone for us, reflecting our commitment to leading the transformation of the energy landscape in India." The collaboration with IndiGrid underscores Techno Electric's strategic focus on expanding its footprint in the transmission sector, which is critical for supporting the country's growing energy needs and the integration of renewable energy into the grid.

IndiGrid, India’s first Infrastructure Investment Trust (InvIT) in the power sector, has been at the forefront of acquiring and managing operational power transmission assets. This partnership with Techno Electric aligns with IndiGrid's strategy of expanding its portfolio of transmission assets, particularly in greenfield projects that are essential for meeting the future energy demands of the country.

About Techno Electric & Engineering Company

Techno Electric & Engineering Company, established in 1963, has earned a strong reputation as one of India's leading companies in the power infrastructure sector. The company provides comprehensive Engineering, Procurement, and Construction (EPC) services across the power generation, transmission, and distribution sectors. Over the decades, Techno Electric has successfully executed numerous high-profile projects, contributing to the development of India's power sector.

With a track record of delivering high-quality projects, Techno Electric has positioned itself as a trusted partner for both public and private sector clients. The company is known for its technical expertise, innovative solutions, and commitment to sustainability, making it a key player in the ongoing transformation of India's energy infrastructure.

About IndiGrid

IndiGrid, established as India’s first Infrastructure Investment Trust (InvIT) in the power sector, focuses on owning and operating power transmission assets. The trust was created to provide stable and sustainable returns to its investors by acquiring and operating a portfolio of power transmission assets in India. IndiGrid’s portfolio includes several high-quality assets that are critical for the country's power transmission network.

With this partnership, IndiGrid aims to enhance its portfolio with the addition of new greenfield projects, ensuring that it continues to play a vital role in the development and modernization of India’s power infrastructure.

Looking Ahead

The collaboration between Techno Electric and IndiGrid is expected to set a precedent for future partnerships in the power sector, particularly in the development of transmission infrastructure. As India continues to expand its renewable energy capacity, the need for robust transmission networks will become increasingly important. Partnerships like this one are essential for ensuring that the country's power infrastructure keeps pace with its growing energy demands.

The successful execution of these projects will not only bolster India's power transmission capabilities but also contribute to the overall reliability and resilience of the national grid. This, in turn, will support the country's broader goals of achieving energy security and sustainability.