$1bn investment pledged in wind power project

KARACHI: The Sindh Government has been succeed in getting another foreign investment of more than one billion US dollar for its 1st sponsored Wind Power Project at Jhampir wind corridor district Thatta/ Jamshoro, having capacity to generate 650 MW electricity and to provide job opportunities to more than 1000 people of the area, a handout here Wednesday said.

Sindh Chief Minister Syed Qaim Ali Shah, considering it a positive indicator for foreign investment in the power generation sector, said that the day was not so far away when we will not only become self-sufficient in power generation but help the other provinces of the country to get rid of load-shedding.

This he observed in a meeting with a delegation of NBT Wind Power Company led by its CEO in Pakistan Lieutenant General (Rtd) Hamid Rab Nawaz that called on him at CM House here.

Representatives from banks and insurance companies of China who agreed to finance the project were included in the delegation.

Talking on the occasion the CEO of the NBT Wind Power Company in Pakistan said that the lenders will provide funds of more than one billion US dollars for upcoming 650 MW wind power project being executed in the Jhampir wind corridor district Thatta/ Jamshoro.

He said that all the preliminary studies, like wind data, environmental protection report and technical studies have been carried out. He said that his company is in the process of obtaining tariff and generation license from NEPRA.

He said that this funding more than one billion US dollar would be provided by a consortium of banks from China and this project would be made operational by mid of 2016 and it to generate 650 MW electricity.

He said that Sindh was lucky having hydro, coal, wind, oil, gas resources to generate power and we are here to exploit our full expertise to utilize wind as source of power generation.

Syed Qaim Ali Shah while addressing the meeting said that Sindh Government was interested and actively working for power generation to overcome power crises. He said that he along with delegation has attended different investment conferences at aboard including China to bring investment and expertise for utilization of untapped available natural resources here at Sindh for power generation.

He said that a very good and encouraging response is being received from many foreign investment companies mostly interested in power generation. He said that though after the 18th amendments in the constitution, provinces have become empowered to negotiate and entered in to agreement with any foreign country for trade, business and investment but there are some formalities which are suppose to be being fulfilled by organization of central government like NEPRA.

He said that Sindh Government was enjoying good working relationship with Federal Government. He said that Prime Minister of Pakistan has always encouraged and even recently while visiting this province has assured full support and help for facilitating the alternate energy power projects which are being launched by the Government of Sindh.

He said that matters pertaining to NEPRA have been taken up with authorities concerned and hopefully same would be got resolved without any difficulty. The Chief Minister Sindh further assured the delegation that Sindh Government is providing tax holiday and other incentives to attract the foreign investment and added that its investment friendly policy has yield good result and added that at present at least we have 10 to 12 applications of foreign investment in process only in power generation field.

The Advisor to CM for Finance and alternate energy Syed Murad Ali Shah, Secretary Energy Wasif Abbas and Secretary to CM Rai Sikandar were also present.

The post $1bn investment pledged in wind power project appeared first on Pakistan Press International.

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