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Techno Electric targets 1,250 mw wind power capacity

EM NEWS BUREAU ,  Tuesday, October 18, 2011, 14:51 Hrs  [IST]

Untitled - 59Techno Electric & Engineering Company, a new entrant in the wind energy business, is set to have a wind power portfolio of well over 200 mw by end of October. The Kolkata-based engineering company recently commissioned a 101.4-mw wind farm in Tamil Nadu through its wholly-owned subsidiary Simran Wind Project Pvt Ltd. The fast-track project is part of Techno's plan of annually adding 150-200 mw of new wind power capacity, with a cumulative target of attaining 1,250 mw by 2017. Techno's current wind power capacity stands at 196.85 mw.

The 101.4-mw wind farm, commissioned in a period of just six months, is spread over the Amuthapuram, Rasta and Muthiampatti regions of Tamil Nadu. Simran Wind has entered into a 20-year power purchase agreement under REC scheme with Tamil Nadu Generation & Distribution Company (Tangedco) at an average tariff of Rs2.37 per kwh. The project was funded through a mix of debt worth Rs360 crore and equity of Rs240 crore. International Finance Corporation, a World Bank Group member, picked up 3.38 per cent equity stake in Simran Wind Project for Rs22.5 crore ($5 million). Lenders to the project include IFC, Standard Chartered Bank and DBS Bank.

"Renewable energy generation has become quite attractive and with right incentives in place wind power can play a major role in securing a sustainable and clean energy future for India. Wind alone accounts for over 70 per cent capacity amongst other alternatives,” P.P. Gupta, Managing Director, Techno Electric & Engineering Company, noted in a statement.

Techno entered the wind energy business in 2009 by acquiring Super Wind Power Project Pvt Ltd, a company owned by Suzlon Energy. Super Wind, which became part of Techno Group through reverse amalgamation, today has an operational wind power capacity of 45 mw, spread over Tamil Nadu and Andhra Pradesh.

Subsequently, Techno acquired Simran Wind Power Pvt Ltd, another Suzlon-owned company, and turned it into a wholly-owned subsidiary. At the time of acquisition, Simran had operational wind power capacity of 50.45 mw, also in Tamil Nadu and Andhra Pradesh.

Techno's wind power ambitions were evident in September last year when Simran Wind Power placed a huge Rs1,149-crore order on Suzlon Energy for 106 turbines (of S92, S88 and S82 models) aggregating 202.8 mw, for deployment at the Tamil Nadu project. This was then construed to be the single-biggest order placed by any wind power producer in India. The newly commissioned 101.4-mw Tamil Nadu wind farm is part of this order. Out of the remaining capacity of 101.4-mw, some 12.6 mw is scheduled to come on stream by October this year. The remaining will be commissioned by March next year.

Tamil Nadu is India's powerhouse of wind energy with 5,520 mw of installed capacity as of January 2011, accounting for 42 per cent of India's total as of that date. During FY11 (up to January 31, 2011), India saw 1,377 mw of new wind power generation capacity added, with Tamil Nadu alone accounting for 613 mw. As of January 31, 2011, India's total wind power capacity stood at 13,183 mw earning it the fifth rank in the world.
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