Renewable energy: US provides financing for wind power project

Private investment body approves $95m in financing for project.


March 23, 2013
US Agency for International Development estimates that Pakistan possesses 132,000 MW of potential installed wind capacity. PHOTO: FILE

WASHINGTON:  The Board of Directors of the Overseas Private Investment Corporation (OPIC) has approved $95 million in financing for a wind power project poised to deliver much needed electricity to Pakistan.

The credit facility will help build a 50 Megawatt (MW) wind power plant in the Ghoro-Keti Bandar Wind Corridor in south-eastern Pakistan, designed to generate 133 Gigawatt hours of emission-free electricity annually.

A statement from OPIC which is a development finance institution for the US government, said that using General Electric Wind turbines the Sapphire Wind Power plant supports a mutual US-Pakistan goal to diversify Pakistan’s power generation beyond reliance on high-priced fuel oil by tapping Pakistan’s vast renewable energy potential.

“The provision of clean and reliable electricity is an essential building block of any economy,” said OPIC President and Chief Executive Officer Elizabeth L Littlefield.

A recent study funded by the National Renewable Energy Laboratory and the US Agency for International Development estimates that Pakistan possesses 132,000 MW of potential installed wind capacity, virtually equal to the world’s entire installed wind capacity for 2010.

Published in The Express Tribune, March 23rd, 2013.

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COMMENTS (4)

Muhammad Kashif | 11 years ago | Reply

@ Gulam Rasool”Kuldeep sharma”

US-ISRAEL-INDIA are very much here. They have seen the Iran Pakistan Gas Pipeline Accord. They are dying to put money in energy sector of Pakistan. Israel and India are creating law and order conditions in Karachi and Balochistan.

Grow up and see the world.

Usman786 | 11 years ago | Reply

USA, EU, Japan, KSA and UAE others do a lot of good work in Pakistan. But problem arises when they want to force unacceptable terms. What happened to Fauji wind project? Last time I heard that AAZ inagurated it and must have asked sth from retd faujis too indirectly...may be by Power company

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