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Techno Electric plans to raise wind power capacity by 85% this fiscal

Techno Electric and Engineering Company in May this year had mentioned that they would install 200 megawatt of operating wind assets this June and announced plans to add 100 megawatts a year.

Panchabuta had mentioned in February that  Kolkata-based Techno Electric and Engineering Company was 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.

Earlier this month, Standard Chartered Plc (STAN), DBS Group Holdings Ltd. (DBS) and the World Bank’s private-sector financing arm loaned $80 million to Techno Electric & Engineering Co. for a wind farm in southern India.

According to reports, Techno Electric & Engineering Co, Kolkata-based power contracting firm, will install about 130 mw of wind power capacity by the end of the fiscal, chief financial officer Pradeep Kumar Lohia said. This is an 85% jump over the company’s current operational capacity of 151 mw, all but 18 mw of which is in Tamil Nadu.

“We will add about 54 mw in Tamil Nadu by August 10 and another 75 mw by March. We have not yet identified the locations for that but we are looking at Rajasthan and Gujarat,” Lohia said.

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