Techno Electric’s Plan B for Tamil Nadu
While being ‘confident’ that its proposal for evacuation of power from its wind farm will be accepted by the Tamil Nadu Generation and Distribution Company (TANGEDCO), Techno Electric & Engineering Company is also getting ready with its Plan B: leave the PPA and begin third party sales.
The NSE-listed company has 210 MW of wind power capacity, 114 MW of which is in Tamil Nadu — where it is facing serious evacuation issues.
A major part of this capacity (which comes under a subsidiary, the IFC-funded Simran Wind Projects Pvt Ltd) became generation-ready a few months ago.
Mr Ankit Gupta, Manager – Strategy & Planning, Techno Electric, told Business Line on Monday that the company had begun talks with consultants Garrad Hassan for forecasting generation, a must if one has to sell to third party consumers.
Techno Electric is scouting for opportunities for acquisition of wind assets and might look at acquiring 40 – 50 MW in 2012-13. Are ‘DLF’s assets’ under consideration? “Yes, but it has come to our table only very recently,” Mr Gupta said.
The company, which ended 2010-11 with a turnover of Rs 715 crore (Rs 595 crore in the first nine months of the current year), has orders on hand worth Rs 1,200 crore, 70 per cent of which is for building power transmission infrastructure.