Techno Electric & Engineering Company has transferred 12 MW Wind Power Assets situated in the State of Karnataka to its wholly owned subsidiary company, Simran Wind Project against issue of shares in the subsidiary company. The effective valuation of the said assets is Rs 45.65 crore. Post this transfer, the company doesn’t hold any wind power assets in its portfolio and the wind power assets of its subsidiary, Simran Wind Project increased to 129.9 MW.
Techno Electric & Engineering Company is a provider of engineering, procurement and construction (EPC) services to core sector industries in India. The company’s segments are EPC (Construction), Energy (Power) and Corporate.