Pakistan, Chinese firm ink $200 million solar power deal
Pakistan’s Northern Power Generation Company Limited (NPGCL) has signed a groundbreaking $200 million deal with Ningbo Green Light Energy Pvt Ltd, a leading Chinese firm, aiming to convert an existing thermal power plant in Muzaffargarh into a cutting-edge 300 MW solar power facility. Facilitated by the Special Investment Facilitation Council (SIFC), this initiative represents a significant move towards renewable energy adoption and economic prosperity. Leveraging the assets of generation company GENCO-III, the project underscores SIFC’s commitment to renewable energy transition. With an expected annual production of 400 million units, the project promises substantial cost reductions from Rs 45 to Rs 14 per unit by eliminating the need for heavy fuel oil (HFO), aligning with sustainability objectives. Anticipated savings of $44 million annually from reduced import bills demonstrate compelling returns, marking a shift towards cleaner and cost-effective power generation in Pakistan.
Pakistan’s Northern Power Generation Company Limited (NPGCL) has inked a groundbreaking deal worth $200 million with Ningbo Green Light Energy Pvt Ltd, a prominent Chinese firm.
The agreement aims to transform an existing thermal power plant located in Muzaffargarh into a state-of-the-art 300 MW solar power facility.
This initiative, facilitated by the Special Investment Facilitation Council (SIFC), marks a significant stride towards embracing renewable energy solutions while reaping economic benefits.
Harnessing the land, assets, and infrastructure of generation company GENCO-III, this project underscores SIFC’s commitment to driving the transition towards renewable energy sources.
By upgrading to solar power, the project is set to produce a whopping 400 million units of electricity annually, promising a considerable reduction in costs from Rs 45 to Rs 14 per unit.
Moreover, the conversion to solar energy will eliminate the need for heavy fuel oil (HFO), aligning with sustainability goals.
The anticipated savings of $44 million per year, attributed to reduced import bills, offer compelling returns for stakeholders. This transformative endeavor not only signifies a shift towards cleaner energy but also heralds a new era of cost-effective power generation for Pakistan.
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