KARACHI: The Sindh government on Thursday signed a lease agreement for the allotment of 5,528 acres of land with two wind power companies – Gul Ahmed Wind Power and Tenaga Generasi Limited – at the provincial energy department.
Both the companies will provide 100 megawatts of wind electricity by the end of September 2016 through a clean and fuel-free resource.
“The projects will bring a direct investment of $247 million and create substantial job opportunities in the province,” said a handout. Sindh Energy Secretary Agha Wasif Abbas and other senior officials were present on the occasion.
Abbas said that the Sindh government was actively facilitating project developers in an effort to ease the energy crisis. In the past few months, seven companies have been awarded final lease agreements.
According to Abbas, all project development agreements including financial arrangements have been signed and physical construction will start from April this year.
He said that Gul Ahmed Wind Power has been allocated 647 acres in the Jhimpir wind corridor and the company will install 25 state-of-the-art German wind turbines of 2.5MW each.
The project will generate 158 gigawatt hours (GWh) per annum from 2016 to 2036. The Gul Ahmed Group will provide 55% of financing, while 35% will be provided by a Singapore-based company. The remaining 10% funds will be contributed by the International Finance Corporation. Abbas said that Tenaga Generasi will install 31 turbines of 1.6MW, made by General Electric, in Taluka Mirpur Sakro with an investment of $120 million.
Annual energy output from the project will be 134.42 GWh. Financing has been committed by the Overseas Private Investment Corporation of USA and the International Finance Corporation.
Published in The Express Tribune, February 13th, 2015.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ