Partnership16 Aug 2024, 11:07 pm
Techno Electric Partners with IndiGrid for Greenfield Transmission Projects with USD 1.25 Billion Order Book
AI Summary
Techno Electric & Engineering Company Ltd has entered into a Securities Subscription Cum Shareholders Agreement (SSSHA) with IndiGrid 1 Limited, IndiGrid 2 Limited, and two Special Purpose Vehicles of IndiGrid. Techno Electric will act as the engineering, procurement, and construction contractor for the Greenfield Project, establishing transmission systems for Western Region Expansion Scheme XXXIII and evacuating power from Ishanagar and Dhule. Techno Electric will invest minority capital and execute the projects on a Lump Sum Turnkey (LSTK) basis. The company's market cap is USD 2.50 billion, and the order book is valued at around USD 1.25 billion.
Key Highlights
- Techno Electric partners with IndiGrid for developing greenfield transmission projects
- Techno Electric to invest minority capital in IndiGrid's two ISTS projects
- Techno Electric to execute the projects on a Lump Sum Turnkey (LSTK) basis
- Techno Electric has a market cap of USD 2.50 billion and an order book valued at around USD 1.25 billion
- IndiGrid is the first Infrastructure Investment Trust in the Indian power sector with assets under management of over USD 3.5 billion