Techno Electric & Engineering Company, which plans to put up 100 MW wind farms each in Gujarat and Rajasthan, is in talks with IFC, Washington, for equity and debt funding, the company's Managing Director, Mr P.P. Gupta, told Business Line recently. “We are examining Rajasthan more closely, because the tariffs are better and the grid is very good,” he said.
Techno Electric is no stranger to IFC, the corporate finance arm of the World Bank. Recently, IFC had picked up a 3.38 per cent stake for $5 million and had extended another $30 million as debt in Simran Wind Project Pvt Ltd, a subsidiary of Techno Electric, which has put up a 100-MW farm in Tamil Nadu. Incidentally, Standard Chartered Bank and DBS Bank too have funded Simran's project, putting in $30 million and $20 million in debt, respectively.