AEDB signs ‘implementation agreements’ for setting up 11 IPPs wind power projects

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ISLAMABAD, Nov 12 (APP):As per government’s vision to increase the share of Renewable Energy (RE) to atleast 30% by year 2030, Alternative Energy Development Board (AEDB) Tuesday executed ‘implementation agreements’ with 11 independent power producers (IPPs) wind power projects.

The cumulative capacity of these wind projects is 560MW and would provide more than 1.8 billion units of clean energy annually.

AEDB Chief Executive Officer Dr Rana Abdul Jabbar and representatives of the various companies signed the agreements on behalf of their respective organizations.

An investment of approximately USD 700 million will be brought into Pakistan as soon as these projects achieve the Financial Closing in coming week. These projects are envisaged to come online by year 2021.

Speaking on the occasion, Dr Jabbar appreciated the efforts made by the private sector in bringing the clean and cheaper electricity for the consumers in the country.

He was of the view that the increased share of RE in the overall generation mix would not only bring down the overall basket tariff but also help in reducing the import bills of Pakistan.

Further, the huge investment coming in the field of RE would also help in achieving the economic growth of Pakistan.

Ten companies will set up 50 MW each wind power projects while one company will establish 60 MW wind power plant.

The companies are included ACT-2 Artistic Wind Power, Din Energy, Gul Ahmad Electric, Indus Wind Energy, Liberty Wind Power-1 and Liberty Wind Power-2, Metro Wind Power, NA SDA Green Energy, Tricon Wind Power.