Kolkata-based Techno Electric & Engineering, an engineering, procurement and construction (EPC) major which has presence in non-conventional generation, transmission and distribution, is planning to invest Rs 10,000 crore in power industry till 2017 and will also foray into contract farming soon, said a top company official.
“Till the end of 2017, the company will invest Rs 10,000 crore in power industry, which includes Rs 7,000 crore in generation and Rs 3,000 crore in transmission and distribution. We will provide an end-to-end solution in power sector. Moreover, we are looking forward to diversify into contract farming for our biomass projects,” said P P Gupta, Managing Director of the company.
By 2017, the company expects its generation capacity including wind and biomass to be around 1250-1300 mega watt (MW).
By diversifying into contract farming, the company will plant crops with higher calorific value at marshy and dry lands near its biomass plants.
“We want to cover 50 to 60 per cent of our biofuel requirment through contract farming,” Gupta said.
Techno now has 60 MW of biomass projects under consideration and intend to complete it by next three years. Among this 30MW is at Dinajpur and Birbhum in West Bengal and 10 MW each in Andhra Pradesh, Rajasthan and Orissa. This cost of these projects are around Rs 5 crore per MW, while the total outlay will be Rs 300 crore.
“We will take care of this through our internal accruals and first phase with 20 MW will be completed by March 30,” he said.
The firm is more bullish on wind energy and already has 95 MW of wind power operating in Tamil Nadu and Karnataka.
“We are implementing 200 MW in Tamil Nadu through our wholly-owned subsidiary Simran Wind Project this year — out of which 125 MW will be commissioned by June end and the remaining by December. The total investment for the project is around Rs 1,150 crore,” Gupta said.
