Staff Reporter Islamabad
The AEDB celebrated the Financial Closing of four (04) Solar PV projects, having cumulative capacity of 250MW on Wednesday.
Out of 250MW, Zhenfa Pakistan New Energy Company (Private) Limited (ZPNECPL) is developing 100 MWSolar Project in District Layyah, Punjab and a Norwegian company Scatec in partnership with Nizam Energy is developing 150MW (3x50MW) projects in district Sukkur, Sindh.
On 19 February 2021, Mr. Shah Jahan Mirza, Chief Executive Officer, AEDB executed and delivered the GoP Guarantee to projects on behalf of President of Islamic Republic of Pakistan.
These four solar power projects are bringing investment of USD 148 million. Projects are financed at debt: equity ratio of 80:20. NEPRA has approved levelized tariff of USD cents 3.73/kWh for Zhenfa project and USD cents 3.66/kWh for Scatec projects.
The Projects are expected to generate 494.427 GWh annually. Based on the available solar resource, NEPRA approved 21.51% Capacity Factor for Zhenfa and 23.27% for Scatec Projects.
Mr. Omar Ayub Khan, Minister for Energy told at this occasion that this is a big step towards Government of Pakistan’s commitment of increasing the renewable energy share in power generation by adding clean and green energy into the system.
Further the induction of lower tariff solar projects will help in reducing the overall cost of generation.
He further informed that the future procurement of power from solar and wind energy projects will be through competitive bidding.
