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MAY 19 2012

Techno Electric sees positives in Tamil Nadu

  • Economic Times, ET Bureau / Hyderabad
  • Created: Sat 19th MAY 2012

Kolkata-based Techno Electric & Engineering Ltd, which has over 100 MW of wind power projects in Tamil Nadu, says things are looking better in the state.

The company, like other wind power producers in Tamil Nadu, has been affected by the lack of sufficient evacuation lines in the state to transmit electricity from the windmills to consumers.

“The plus point is, TNEB had got approval for enhancement of tariff on the condition that they would not be importing power anymore. This is positive for us,” Mr Pradeep Lohia, President (Finance), Techno Electric, told analysts in a conference call recently.

The Rs 820-croreTechno Electric has two lines of businesses — generation of wind power and execution of transmission and distribution projects for companies like the Power Grid Corporation of India.

It ended last year with a wind power capacity of 207 MW, half of which is in Tamil Nadu, through a subsidiary called Simran Wind Project Pvt Ltd.

Mr Joy Saxena, Director-Finance, Simran Wind Project told Business Line today that Techno Electric intends to add 150 MW of capacity. This capacity addition could come both by acquisition of existing wind assets, as well as by fresh installations.

There is around 550 MW of wind assets on sale in the market today, Mr Saxena said. He could not say when Techno Electric might close a deal because there are many negotiations happening, at various stages. But he said that the company would announce placing of orders for new machines in a months’ time.

Mr Pradeep Lohia said in the conference call that the company would like to have a wind asset portfolio of 1,200 MW in about six years.

He said that Techno Electric ended last year with orders on hand worth Rs 950 crore. Further, the company was the best bidder in two tenders of Power Grid Corporation of India for building three substations, he said. The jobs under these tenders are worth Rs 250 crore.

Tags

Tamil Nadu Power Grid Finance Grid Wind Tamil Nadu State Electricity Board Kolkata Simran Wind Power

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