Mumbai, June, 20 (EPC News): Simran Wind Project Ltd, a wholly owned subsidiary of Techno Electric & Engineering Co Ltd (TEECL) acquired International Finance Corporation (IFC) as a major investor for its first phase of 100 MW wind generation project in Tamil Nadu. IFC, the investment arm of World Bank has made a total investment of $35 million, comprising both debt and equity. With the recent investment IFC has acquired a 3.38% stake in Simran Wind Projects. IFC’s equity investment amounts to $5 million and the remaining $30 million is made in the form of debt. Apart from IFC, Standard Chartered and DBS are the banks financing the first phase of the project. Debt-equity ratio for the project stands at 60:40, with Simran valued approximately at $148 million.
EPC News Bureau
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epcworld
| Posted on:6/20/2011 at 7:45 AM