Techno Electric and Engineering Company Ltd Successfully Acquires NERES XVI PTL

Techno Electric and Engineering Company Ltd has finalized its acquisition of M/s. NERES XVI Power Transmission Limited ("NERES XVI PTL") from REC Power Development & Consultancy Limited ("RECPDCL"), along with all its assets and liabilities, on May 30, 2024. The acquisition comes after the company was declared the successful bidder selected through a tariff-based competitive bidding process.

As of the mentioned date, NERES XVI PTL, the project-specific SPV, has officially become a subsidiary of Techno Electric & Engineering Company Limited.

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