The Private Power and Infrastructure Board (PPIB) has issued a letter of support to Siddiqsons Energy Limited for setting up a 350-megawatt imported coal-based power project at Port Qasim, Karachi.
The National Electric Power Regulatory Authority (Nepra) has already approved upfront tariff for this supercritical coal-fired power plant, which will be Pakistan’s first project of its kind at Port Qasim.
It is estimated to cost $600 million and the financial close is expected by the first quarter of 2016.
In a statement, Siddiqsons Energy Chief Executive Officer A Rahim Rafi said his company was fully cognisant of the fact that low-cost electricity was extremely crucial for economic growth and stability of the country. “Coal-based energy production is the key to addressing this issue,” he said. Compared to the global average of approximately 41%, Pakistan generates less that 1% by coal.
Published in The Express Tribune, September 2nd, 2015.