Simran Wind Project Private Limited #47246

Simran Wind Project Private Limited

Simran Wind Project Private Limited (Simran), a wholly owned subsidiary of Techno Electric & Engineering Company Ltd. (TEECL), has established a strong foothold in the green energy generation segment with a total power generating capacity of 162.35 MW from wind resources as of 2013. To focus on its core EPC business and explore diversification, TEECL decided to divest its 111.9 MW wind assets in Tamil Nadu. During the year ended March 31, 2023, the company signed MoUs to sell 108.9 MW of these assets to multiple buyers. As per Ind AS 105, the assets were classified as "held for sale" from October 1, 2022. Following the sale of 105.3 MW, TEECL recorded a net exceptional gain of ₹6,785.61 lakhs in its standalone financials for FY 2022–23. Operating profits from these assets were listed under “Discontinued Operations.” The remaining 3.6 MW was sold during FY 2023–24, resulting in an additional exceptional gain of ₹79.65 lakhs.