The Alternate Energy Development Board (AEDB) on Wednesday declared the achievement of financial closing for 50 Megawatt wind power project of M/s Foundation Wind Energy-I located at Gharo in district Thatta, Sindh.
During the event, the AEDB also issued guarantee on the behalf of Pakistani government in the favour of Foundation Wind Energy-I Limited.
While addressing on the occasion, Federal Minister for Water and Power Khawaja Asif said the country was blessed with immense wind resources, especially in the coastal areas which were untapped.
The federal minister was of the view that Pakistan offered an investment-friendly and lucrative wind energy market for the investors and equipment suppliers.
The minister mentioned that incentives offered in the renewable energy policy were attractive and lucrative for private sector investment.
“Other than Gharo and Ketti Bandar, more energy corridors are being set up,” the minister added.
Fauji Foundation Managing Director Lt Gen Muhamad Mustafa Khan gave a detailed briefing of the project.
Khan informed that Fauji Foundation was developing two wind forms at Gharo and Thatta having the EPC cost of estimated US $ 223 million being financed by the Asian Development Bank and Islamic Development Bank in collaboration with syndicate of local banks.
The managing director noted that the engineering, procurement, and construction contracts of both the projects is a consortium comprising M/s Nordex Germany and M/s Descon Engineering Limited Pakistan installed with turbines having capacity of 2.5 MW each.
AEDB Chief Executive Officer Basharat Hasan disclosed that M/s Nordex Germany which was supplying turbines was also EPC contractor of the projects.
