Plan unveiled to add 500MW renewable power to national grid

CDC Group and Gul Ahmed Metro Group (GAM) on Saturday joined hands to form the Metro-BII Renewables joint venture to develop and operate up to 500 megawatts of renewable energy assets in Pakistan.

The venture will build on the existing partnership between the UK’s development finance institution and GAM, a Pakistani family-owned business with expertise in Pakistan’s power sector.

Under the terms, CDC will acquire a significant minority stake in Metro Wind Power Limited (MWPL), an under-construction 60MW windfarm project, developed by GAM, the acquisition remains subject to lender and regulatory approval. CDC and GAM are also co-investors in Zephyr Power Limited, an operating 50MW windfarm.

Managing Director Head of Asia at CDC Group, Srini Nagarajan said, “Our ambitious new partnership with Gul Ahmed Metro Group demonstrates CDC’s keen focus on making sustainable investments, particularly in green infrastructure, that will help to mitigate the effect of climate change."

He added that the "CDC and Gul Ahmed Metro are united in a shared vision to devote our joint expertise and capital toward enhancing inclusive and productive opportunities for people and accelerating clean economic growth in Pakistan, over the long term.

"I am thrilled that through Metro-BII Renewables, CDC and the British Government can play a role in helping to scale clean affordable power provision in Pakistan that will meet the country’s needs and transform the livelihoods for people across the country,” Nagarajan remarked.

Expressing his views, Chairman Gul Ahmed Metro Group, Danish Iqbal said, “It is with great pleasure that we announce our new partnership with CDC Group. CDC is aligned with our vision to lead the winds of change in Pakistan’s transformation to achieve green energy future by 2030.

The GAM Group harnesses renewable energy while maintaining the highest standards of quality, safety and environmental sustainability with an unwavering commitment to our stakeholders.

The Gul Ahmed Metro Group started its journey in energy production through the establishment of its thermal power plant in 1997. After witnessing the shortage of electricity in Pakistan and the potential to develop renewable means of electricity generation, GAM set the groundwork for its first two wind projects in 2006 and is now a leading energy producer in this sector.

Metro Wind Power is setting up 30 Siemens-Gamesa (G114 2.0MW) Wind Turbine Generators (WTG) having a hub height of 93 meters. This hub height is the highest compared to the other models installed in the Thatta territory.