Sindh succeeds in getting $1bn foreign investment for wind power project

ONLINE

KARACHI: Sindh government has succeeded in getting foreign investment of more than $1 billion for its first sponsored Wind Power Project at Jhampeer wind corridor district Thatta/Jamshoro.The project having capacity to generate 650 megawatts (MW) electricity would provide jobs to more than 1,000 people of the area.Chief Minister Sindh Qiam Ali Shah considering it as a positive indicator for foreign investment in the power generation sector and the day was not far away when we would not only become self sufficient in power generation but supplement to the other provinces of the country.Qaim Ali Shah talking to a delegation of NBT Wind Power Company led by its CEO in Pakistan Lieutenant General (retd) Hamid Rab Nawaz said Sindh government was interested and actively working for power generation to overcome power crises. The representatives from banks and insurance companies of China who agreed to finance the project were included in the delegation.He said he along with delegation has attended different investment conferences aboard including China to bring investment and expertise for utilisation of untapped available natural resources in Sindh for power generation.After the 18th Amendments in the constitution, provinces have become empowered to negotiate and entered in to agreement with any foreign country for trade, business and investment but there are some formalities which are suppose to be being fulfilled by organisation of central government like National Electric Power Regulatory Authority (NEPRA).He said matters pertaining to NEPRA have been taken up with authorities concerned and hopefully same would be got resolved without any difficulty. Sindh government is providing tax holiday and other incentives to attract the foreign investment and investment friendly policy has yielded good results.At present at least we have 10 to 12 applications of foreign investment in power generation field, which are under process.CEO of the NBT said the lenders to provide funds more than $1 billion for upcoming 650 MW wind power project being executed in the Jhampeer wind corridor district Thatta/ Jamshoro.All the preliminary studies, like wind data, environmental protection report and technical studies have been carried out. The Company is in the process of obtaining tariff and generation license from NEPRA.He said a consortium of banks from China would provide this funding and this project would be made operational by mid of 2016. He said Sindh was lucky having hydro, coal, wind, oil, gas resources to generate power and we are here to exploit our full expertise to utilise wind as source of power generation.The adviser to CM for Finance and alternate energy Syed Murad Ali Shah, Secretary Energy Wasif Abbas and Secretary to CM Rai Sikandar also participated in deliberation.

comments powered by Disqus
  • DailyTimes.Official
  • DailyTimes_DT
  • Rss
Sunday Magazine