Kolkata-based Techno Electric & Engineering may not have added any wind energy capacity in the current financial year, but it has big plans to expand in 2013-14, according to a top company official. The company so far has wind generation capacity of 207 mega watt, of which 162 mw is under its subsidiary Simran Wind Projects 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.
The Company has signed terms with the investor, said Joy Saxena, ED of the company. In what could bring a fillip to the sector, Finance Minister P Chidambaram in the Budget last month reintroduced generation based incentives (GBIs). The government had withdrawn these incentives last year, and there has been a fall in new wind power installations since.
Saxena says reintroduction of GBI is certainly a welcome move but there are certain ambiguities that need to be addressed.
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