HONG KONG: Chinese oil and gas company United Energy Group Ltd (UEG) said on Wednesday it plans to invest $3 billion in a wind farm project in energy-starved Pakistan and is in talks to buy equipment from mainland suppliers. UEG said it plans to construct the wind farm in several phases. It did not disclose the targeted total capacity for the project or provide a timeframe. The company said, however, it had already obtained approval from the Pakistan government to construct a wind power project with a capacity of 500 megawatts. Pakistan is offering clean energy producers higher rates for renewable power as it seeks to boost production, while diversifying energy supply away from oil and gas.
Published in The Express Tribune, May 31st, 2012.
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