Pakistan and China go forward with $130 million power project
Saturday, December 31st, 2011 5:22:55 by Wajahat Javed
Pakistan and China go forward with $130 million power project
Friday, December 30: Pakistan and China have taken their friendship to next level, as the two countries agreed for the construction of first green power project of 50megawatts to be completed by next summer with an estimated cost
of $130 million.
The ceremony of Three Gorges First Wind Farm Power Plant was performed by Minister for Water and Power Syed Naveed Qamar and Liu Jian, Chinese Ambassador to Pakistan. The project will be installed in Jhimpir, Thatha, Sindh.
Liu Jian, the Chinese Ambassador, said, “The project will help further strengthen China-Pakistan friendship and consolidate the strategic partnership.”
Wang Shenliang, Chief Executive Officer of Three Gorges First Wind Farm project said that the company would launch 20 similar projects having total production capacity of 1,000 megawatts by self investment during the next three
to four years.
Syed Naveed Qamar said that the government has tasked the Alternative Energy Development Board to add 1,500 megawatts to the national grid by 2013. Qamar said that under new policy the government has announced upfront tariffs and
now the companies need the resolve and funding to put a power plant in Pakistan as it has removed all the bottlenecks.
The AEDB’s Chief Executive Officer Arif Alauddin said that Three Gorges Pakistan has assured it would implement the project at the earliest. The company is already working on two other projects of 50MW each and seeking additional
land for 450MW.
Alauddin said what is more significant is that the renewable energy – and in particular the wind energy sector is now attracting the highest amount of private investment.
He said the AEDB had set a target for Wind Power Generation at 500MW for the year 2012, however, the government has set the target of 1,500MW for early 2013 – a challenging target, which appeared unrealistic in the beginning, now
seem to become achievable.
Short URL: https://www.newspakistan.pk/?p=7834
Posted by Wajahat Javed
on Dec 31 2011. Filed under Business, Pakistan.
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