Financing: Power company completes formalities
The project is jointly developed by Iqbal Ali Mohamed and InfraCo Asia Keenjhar Wind.
TURKEY:
Metro Power Company Limited executed the documents for $98.6 million financing for its 50 MW wind power project consisting of 20 Nordex N100 wind turbines of 2.5 MW each, from Germany to be located in Sindh. Financial close of the project is expected to take place by July 2014 and commercial operations are expected to start by the end of 2015. Electricity generated by Metro Power will be sold to the National Transmission and Despatch Company under a 20-year fixed price Energy Purchase Agreement under the Government of Pakistan’s Renewable Energy Policy for the Development of Power Generation (2006). The project is equally owned and has been jointly developed by a leading Pakistani business family of Iqbal Ali Mohamed and InfraCo Asia Keenjhar Wind (a wholly owned subsidiary of InfraCo Asia Development Pte. Ltd, Singapore).
Published in The Express Tribune, April 17th, 2014.
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