New Delhi: Techno Electric & Engineering Company on Friday announced its tie-up with IndiGrid to undertake the development of the two greenfield transmission projects and inked securities subscription cum shareholders agreement.
Under this partnership, Techno Electric will co-develop and invest in IndiGrid’s two ISTS projects -- Ishanagar Power Transmission Ltd (IPTL) and Dhule Power Transmission Ltd (DPTL), the company said in a BSE filing.
According to the filing, Techno will invest minority capital and also be responsible for the complete execution of the projects on a Lump Sum Turnkey (LSTK) basis.
Techno Electric Chairperson Padam Prakash Gupta stated, "This partnership represents a significant milestone for us, reflecting our commitment to leading the transformation of the energy landscape in India".
Techno Electric and Engineering Company is one of India's leading companies in the power infrastructure sector. Founded in 1963, Techno has built a strong reputation for delivering high-quality engineering, procurement, and construction (EPC) services across the power generation, transmission, and distribution sectors.
IndiGrid is the first Infrastructure Investment Trust (InvIT) in the Indian power sector.
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