Techno Electric plans big wind energy expansion

Network18online reported that Techno Electric & Engineering may not have added any wind energy capacity in the current financial year it has big plans to expand in 2013 to 14 according to a top company official.

The Kolkata based company so far has wind power generation capacity of 207 mega watt of which 162 mw is under its subsidiary Simran Wind Projects Pvt Ltd and and 45 mw with itself.

It has tapped private equity players for raising funds in Simran Wind and these funds will be used for expanding capacity.

Mr Joy Saxena ED,said that “We have signed term sheets with the investor. We had planned total of USD 100 million for growing this company until 2020. So we have signed the term sheet with the first investor and we are discussing the definitive agreement. Money will be drawn from the investor when we set up the projects.