South Korean Group Plans $900 Million Pakistan Solar Farm

CX Solar Korea is leading a group that signed an agreement with the government of Pakistan to build a 300-megawatt solar farm that will require an investment of as much as $900 million.

The group plans to start a 50-megawatt installation near Quetta in southwestern Balochistan province that will use a combination of crystalline silicon and thin-film panels to see which perform best, said Moon-sok Choi, chief executive of CX Solar, a Seoul-based project developer.

The group expects to build 300 megawatts by 2016, Choi said. The power will be sold under a 25-year contract, with details still being negotiated, Choi said in an e-mailed response to questions.

CX Solar is in talks with panel suppliers, including Bernin, France-based Soitec SA (SOI), which makes Concentrix photovoltaic panels, Choi said.

To contact the reporter on this story: Natalie Obiko Pearson in Mumbai at npearson7@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net