Oct 27, 2014 - US conglomerate General Electric Co (NYSE:GE) said on Monday it will supply the turbines that will make up the 50-MW Sapphire wind park in southeastern Pakistan.
Under the deal’s terms, GE will deliver 33 of its 1.5-82.5 wind turbines and will provide operations and maintenance (O&M) services for a period of 10 years. The value of the contract was not disclosed. GE noted this is its first ever wind power deal in Pakistan.
The project is developed by HydroChina International Engineering Co Ltd and owned by Sapphire Wind Power Co Ltd, headed by Nadeem Abdullah. In early September 2013, the US government’s development finance institution Overseas Private Investment Corp (OPIC) said it had signed an agreement to extend a USD-95-million (EUR 74.7m) loan to the specific scheme in the Gharo-Keti Bandar wind corridor.
The US Agency for International Development and the National Renewable Energy Laboratory estimate Pakistan’s wind power potential at more than 132 GW. The Asian nation has set a goal to source 5% of its power from renewables by 2030. Pakistan’s National Electric Power Regulatory Agency has determined the country needs to install more than 6 GW of additional power capacity in view of the 4% annual growth in electricity demand.
(USD 1.0 = EUR 0.787)
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