The first Pakistani-owned early harvest wind power project constructed under China Pakistan Economic Corridor (CPEC) framework has passed assessments and started commercial operation.
The 49.5 Mega Watt facility developed by Sachal Energy Development (Private) Limited over 680 acres of land in the Jhimpir Wind Corridor in Sindh province, was 100 percent financed by the Industrial and Commercial Bank of China.
The success of the project sets a good example for the construction of the CPEC and the “Belt and Road” initiative, according to Global Times.
Sachal Energy is a wholly owned subsidiary of Arif Habib Corporation Limited, one of the largest private sector conglomerates in Pakistan
It has received formal notification from the Central Power Purchasing Agency (Guarantee) Limited.
The company is committed to supplying electricity to the national grid through the National Transmission and Dispatch Company for 20 years under an energy purchase agreement.
The project comprises 33 wind turbine generators manufactured by Goldwind of China whereas HydroChina is the engineering, procurement and construction (EPC) as well as operation and maintenance (O&M) contractor of the project.
It is the first project that has received Sinosure-backed financing and has been 100% financed by the Industrial and Commercial Bank of China.
Pakistan and China have signed $57 billion worth of energy and infrastructure projects under CPEC framework.
Bulk of the investment is going to the energy projects, including renewable and clean energy to bridge the energy shortfall.