US-based firm New Generation Power International (NGPI) plans to build 200 MW of solar and 100 MW of wind power capacity in the Jamshoro-Thatta Region of Sindh, Pakistan.
On Tuesday, the company announced a Letter of Intent (LoI) for the projects with the Government of Sindh - Directorate of Alternative Energy. NGPI, which is working in consortium with SeaSpire Advisors in Pakistan, said the planned capacity will require an investment of nearly USD 550 million (EUR 488m). The partners’ goal is to fully finance the projects through private sources outside Pakistan.
NGPI and SeaSpire Advisors have already initiated due diligence and feasibility and technical studies for the solar and wind schemes. NGPI will be the primary developer for the projects on a build, own and operate (BOO) basis, it noted.
Jafer Hasnain, managing principal of SeaSpire Advisors, said that they aim to commence construction "as soon as possible". Once installed, the wind and solar farms will bring power for nearby cities such as Hyderabad and Karachi and the national grid, helping ease Pakistan’s severe energy shortage.
"These projects will provide direct and indirect benefits to our economy in addition to establishing a renewable energy industry including transfer of technology and other peripheral economic activities," commented Agha Wasif Abbas, Secretary Energy at the Government of Sindh.
Independent power provider NGPI is developing geothermal, wind and solar projects in several geographies. At the end of April it said it will install and operate a 100-MW geothermal power plant in northwestern Turkey together with three local partners.
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