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IFC to Invest $26 Million in Pakistan Wind Power Project

April 22 (Bloomberg) -- International Finance Corp., the World Bank’s private-sector financing arm, will invest $26 million in a wind farm in Pakistan.

The project will be built in Thatta District in Sindh province and will cost about $132 million, IFC said in an investment proposal in August. The 50-megawatt project will be developed by Karachi-based Metro Power Co. and generate enough electricity to supply about 270,000 people a year, according to a statement on IFC’s website.

Metro Power is owned by the Iqbal Alimohamed family and InfraCo Asia Keenjhar Wind Pvt. The two owners of the company will pay for 22.5 percent of the project’s cost, according to the statement.

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

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Indranil Ghosh, Tony Barrett

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