ISLAMABAD – Pakistan has signed a memorandum of understanding (MOU) with a Chinese firm to convert a thermal plant to solar power.
The project will upgrade an existing thermal power plant to a 300 MW solar power plant through the Special Investment Facilitation Council (SIFC).
The project will generate 400 million units of electricity per year at a significantly lower cost, reducing the cost from Rs45 to Rs14 per unit.
The project will eliminate the need for Heavy Fuel Oil (HFO). It is estimated to save $44 million annually due to reduction in import bills, offering attractive returns to stakeholders.
