CHINA’S STATE OWNED BANK TO FINANCES $133M

SINDH ALLOTS 680 ACRE FOR 49.5MW WIND POWER PROJECT

Sameer Nazir
KARACHI:
The Government of Sindh has allotted 680 acre of land to Sachal Energy (Pvt) Ld for a period of 30 years to establish 49.5 MW Wind Energy project at Jhimpir District Thatta. The cost of the project is $133m.

The allotment of the land was signed in a ceremony held here on Wednesday. On behalf of the Alternate Energy Board, Government of Sindh, Mr Shafqan Shah signed the document while Kashif Ansari, represented M/s Sachal Energy. The signing ceremony was attended by Secretary Energy Mr Agha Wasif and Director, Alternate Energy Mr. Mehfooz Qazi.

M/S Sachal Energy (Pvt) Limited is establishing a 49.5MW Wind Energy project at Jhimpir, district Thatta. It has awarded the EPC contract to M/s Hyro China Xiebi, a Chinese Company engaged in the Wind Power Development.

The project is included as one of top priority project for Pakistan China Economic Corridor last year. The Industrial and Commercial Bank of China (ICBC) is financing the project which would cost around 133 million US Dollars. The project will boost the socio-economic development of the province and recently created Bhambore Division.

The company has signed the Power Purchase Agreement last week with NTDC and would start construction next month. The completion time of the project is 18 months. Under the agreement the company would supply 49.5MW power to the national grid for a period of 30 years up to 2044 and will provide 136 Gega watt Hours to the national grid. The project will contribute international commitments of the Government to reduce the environmental degradation of the region.

PAK-CHINA FRIENDSHIP:
It may be noted that financing of the project by the Chinese State owned Bank in Sindh is a land mark of the long lasting relations of both the governments and the peoples of China and Pakistan.

The allotment of land for a long term 30 years is another benchmark of the development of Chinese projects in the province.

GOVERNMENT OF SINDH:
Sindh had a great potential in the field of wind energy and any investment to export its wind energy corridor would be welcomed and encouraged. Up to now 50,000 MW as been identified in the Jhimpir Gharo Wind Corridor.

The Sindh government has developed a comprehensive Energy Policy to meet its growing energy needs through cheap and indigenous resources specially the Wind and Coal deposits available in large quantities in the province.

Today, more than 40 companies are actively engaged in the province to develop 3000 MW power through Wind.The Energy Department is in close liaison with all these companies to resolve any bottlenecks and hurdles related to the development of wind power. It may be noted that another Chinese project of 50MW is at the completion stage. M/S China Three Gorges Company would start supplying 50 MW power to the national grid within next few days.