Renewable source: Letter of support granted to solar power project

BSPL to operate power generation facility, will cater to two districts.

LAHORE:

The Alternative Energy Development Board (AEDB) has granted the country’s first letter of support (LOS) for solar power to Buksh Solar Private Limited (BSPL) for a 10-megawatt (MW) generation facility catering to Bahawalpur and Cholistan.

Buksh Solar is a special purpose vehicle of Buksh Energy Private Limited solely set up to facilitate the 10MW solar Independent Power Producer (IPP) that will sell electricity to Multan Electric Power Company (Mepco).

The power plant would use solar power as fuel to generate electricity; it will also use state-of-the-art technology producing 16,731MW electricity per annum.

“The 10MW solar IPP would present a successful case of resolving the energy crisis with a profitable, sustainable and environmentally-friendly solution for all stakeholders involved,” said Buksh Energy Chief Executive Officer Asim Buksh.

Additionally, BSPL has recently been awarded an unconditional acceptance of Upfront Tariff and Generation Licence approval from the National Electric and Power Regulatory Authority. The 10MW solar IPP will be the first solar project in the country demonstrated on a mega scale with a power purchase agreement with the power distribution companies (DISCOs).

The project promises to demonstrate immense solar potential of the country which is 2.32 million megawatts and the utilisation of the same for large scale energy production.

“Average dependable electricity capacity during the summer season reaches up to 15,000MW,” said Buksh. “Pakistan is losing up to three percent of its GDP because of frequent power shortages hence IPPs have to collaborate with the government in order to bring the energy crisis under control.”

Published in The Express Tribune, October 4^th, 2014.

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