The International Finance Corporation (IFC) has signed a joint development agreement with the Karachi Electric Supply Company (KESC), the Aman Foundation and their collaborative initiative, Karachi Organic Energy Limited (KOEL). The three will co-develop the largest bio-gas power plant of its kind, in what is being called a ‘waste to energy project’ based in the Landhi Cattle Colony in Karachi, said a press release issued here.
The IFC’s support will come in the form of IFC InfraVentures, an early-stage equity investment fund which supports infrastructure projects in developing countries. It will work hand-in-hand with the KESC and Aman Foundation and will provide a share of the seed capital, aiming at attracting subsequent financing at a later stage.
The plant will convert approximately 4,200 tons of cattle waste and 700 tons of food waste per day to bio-gas, which will be utilised for power generation at a facility with an installed capacity of up to 30 megawatts (MW).
The residual organic content is expected to be processed into over 100,000 tons per annum of soil amendment (low-nutrient organic fertiliser). The project, with a total investment of approximately $80 million, will be developed in two phases with installed capacities of 15MW each.
“This project is a prime example of how innovation can be used to tackle some of Pakistan’s most pressing development issues,” Director IFC for the Middle East and North Africa Mouayed Makhlouf said, according to the release.
Published in The Express Tribune, July 7th, 2013.
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