The 50 MW wind power project in Jhimpir Wind Corridor located in district Thatta Sindh, Pakistan, has achieved financial closure.
The total project investment is estimated at US$131 million. Financiers of the project include: IFC, ETDB, National Bank, UBL, Bank Alfalah and Askari Bank.
The wind farm will be developed by Gul Ahmed Wind Power Limited (GAWPL), which is owned by Gul Ahmed Energy Limited (51%) and InfraCo Asia (49%).
This project is located over an area of 2.62 km² (already acquired via lease) in the Jhimpir Wind Corridor, Thatta district of Sindh province in south-eastern Pakistan, about 100 km east of Karachi. It is scheduled to commence operations in the 3rd quarter of 2016.
The contract involves engineering, design, procurement, construction, turbine erection, grid tie-in, commissioning and operation & maintenance of the 50 MW wind power generation facility.
The 50 MW wind farm will be an independent power producer (IPP) and will sell electricity to the National Transmission and Dispatch Company Limited (NTDC) under a 20-year energy purchase agreement (EPA). NTDC’s payment obligations under the EPA will be guaranteed by the Government of Pakistan.
It is expected that the new facilities will promote the use of renewable energy sources for power generation in Pakistan. As of today, wind power represents less than 1% of total generation capacity.