India-based Techno Electric & Engineering revealed that it is looking at private equity funds for a couple of investment opportunities in adjacent countries like Bangladesh and Myanmar. The company also said that would also be considering opportunities in African countries such as Ethiopia, Kenya, and Uganda.

The company is seeking to raise a significant amount from leading private equity funds to boost up its total wind power capacity from today's 207 MW to 800 MW by 2020. Techno Electric's subsidiary, Simran Wind Project, runs as an independent power supplier in the renewable energy sector. Techno Electric has a 97% stake in Simran Wind Project.

"We have already signed the term-sheet agreement and the definitive agreement will be signed soon to raise this PE funds in a structured manner. We will not dilute our stakes initially. Stake dilution will happen 7/8 years later when the PE fund exits. We have identified five projects across the country and are evaluating them. Once the project is finalised and is ready, then only we will raise the PE funds," a representative of the company said.