Reported By:
| Edited By: G Seetharaman |Source: DNA |Updated: Mar 18, 2018, 03:42 AM IST
Techno Electric & Engineering Co, Kolkata-based power contracting firm, will install about 130 mw of wind power capacity by the end of the fiscal, chief financial officer Pradeep Kumar Lohia said.
This is an 85% jump over the company’s current operational capacity of 151 mw, all but 18 mw of which is in Tamil Nadu.
“We will add about 54 mw in Tamil Nadu by August 10 and another 75 mw by March. We have not yet identified the locations for that but we are looking at Rajasthan and Gujarat,” Lohia said.
All the power generated is sold in Tamil Nadu and Karanataka, he said.
Techno Electric, which takes up engineering, procurement & construction (EPC) projects in power generation, transmission and distribution, ventured into wind power development two years ago.
“In 2010-11, wind power generation contributed 10% to our topline (of Rs680 crore) and the rest was from EPC. Our plan is to make it 50% by 2017,” Lohia said. Techno is eyeing a 20% growth in revenues and 30-35% jump in net profit this fiscal.
According to the Indian Wind Energy Association, India as on March 31 had an installed wind power capacity of 14,158 mw, the fifth largest in the world.
At 151 mw of operational capacity, Techno Electric is among the larger wind power developers in the country. CLP Power India with a commissioned capacity of 362 mw is the biggest.
Lohia said the cost of setting up 1 mw of wind power is Rs5-6 crore. “We need to raise debt for capacity addition.
Our debt equity ratio is 1.5:1,” he said.
Talking of Techno’s EPC business, Lohia said the company has orders worth about Rs1,300 crore. “In the first quarter, we just bagged Rs40 crore worth of orders but we look forward to end the year with an order book of Rs2,500 crore. There is a slight slowdown now, but there is no need for us to diversify beyond the power sector.”
For the three months ended June 30, Techno’s standalone net sales grew 13.5% from a year ago to Rs172.12 crore while profit after tax fell by 8.37% to Rs22.33 crore.
