Home » Finance » Techno Electric and Engineering Company to raise Rs.7.5 bn for its 200MW wind farm in Tamil Nadu

Techno Electric and Engineering Company to raise Rs.7.5 bn for its 200MW wind farm in Tamil Nadu

According to reports, Kolkata-based Techno Electric and Engineering Company is in talks with IFC, Standard Chartered Bank and DBS Bank for raising 750 crore of debt to part-finance its 200 mw wind power project in Tamil Nadu.

The company plans to invest about 1,150 crore in the wind power project in two phases. The first phase will include a 125 mw capacity and is expected to be commissioned by June 2011 in Tamil Nadu.

The second phase will include a 75 mw project. It will be commissioned by March next year.

According to the report, managing director P P Gupta said: “We plan to infuse 400 crore as equity for the projects, the rest, 750 crore, will be in the form of debt from financial institutions.” 

The company’s current wind power capacity is 95 mw. It acquired the capacity when it bought two companies – Super Wind Project and Simran Wind Project – after a 450-crore debt equity deal in 2009.

“Having run the plants for two years, we have now decided to expand the capacity to about 300 mw by March 2012 and 1,250 mw by 2017. We have recently ordered 200 mw of wind power equipment from Suzlon,” said Gupta.

As Panchabuta has reported, wind has attracted some major annoucements in terms of capacity addition plans and contribution towards overall renewable energy portfolio of major developers.

 Tata Power and Reliance Power have announced ambitious renewable energy plans with aggressive targets and have wind as a major contributor towards the targets. Caparo energy a wind focused IPP with a target 5000MW by 2017 also has a  business partnership agreement with Suzlon Energy Limited (“Suzlon”), for its phase one,  to acquire up to 3,000 MW of wind power generation farms.

Just recently, ACCIONA Energy has closed the long-term financing of the 56.1-MW Tuppadahalli wind farm that it is building in Karnataka state (south-west India) with Infrastructure Development Finance Company Limited (IDFC), a leading Indian infrastructure finance company. The agreement has been completed in three months, a record for this type of operation. 

 Panchabuta, has earlier talked about the  Generation Based Incentives (GBI) scheme for grid connected wind power projects with the objective of broadening the investors base by attracting FDI and independent power producers and this seems to be producing the desired results as is evident from the various announcements of planned wind farms based on this scheme.

During FY11, the country is likely to add close to 2,200 MW of new wind capacity according to officials and around 450 MW is expected to be covered under GBI.


  1. we are interested in JV projects in wind power .Pl contact us for more details

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