Accord Transformer & Switchgear Limited (ATS) has signed a Memorandum of Understanding (MOU) with the Western Administrative District of the City of Moscow, Russia, formalised on March 22, 2026 in Haryana. ATS is one of the leading manufacturers of transformers and switchgear solutions in India with advanced manufacturing facilities in Bhiwadi and a presence across power transmission, renewable energy and industrial sectors. The MOU establishes a framework for cooperation to bolster industrial ties and support cross-border infrastructure projects.

Under the agreement both parties intend to promote sustainable energy solutions and facilitate technological exchange across multiple strategic areas. Collaboration is planned in the supply, installation and commissioning of transformers, distribution systems, switchgear and related electrical equipment, together with exploration of joint ventures, local assembly units and manufacturing facilities in Moscow to enhance localisation and production capabilities. The partnership seeks to accelerate growth in power infrastructure and related sectors in both regions.

Planned cooperation extends to engineering, procurement and construction projects including substations and industrial power systems, in coordination with government and public sector entities. The arrangement also envisages strengthened engagement with regulatory bodies, financial institutions and industry stakeholders to ease project development and execution. Emphasis will be placed on technology transfer and skill development through exchange of technical expertise, training programmes and capacity building in areas such as transformer manufacturing, smart grids and energy efficient technologies.

The partnership foresees structured interaction through business delegations, technical discussions and investment opportunities to ensure effective implementation and long term industrial cooperation. Company leadership described the MOU as a significant milestone in international expansion that opens avenues for technology exchange and market access while contributing to more resilient energy ecosystems and sustainable growth. The document contains customary forward looking statements and highlights associated risks, with an undertaking that the company will not update such statements publicly.