Pakistan plans to commission nine wind power projects with a combined capacity of 479 megawatt under deals signed since Prime Minister Nawaz Sharif’s government took office two years ago, an official said.
Joudat Ayaz, director general of finance in Pakistan’s Alternative Energy Development Board, said the projects are are worth $1.1 billion and are located in Sindh province stretching from Karachi up the Indus River.
Lenders such as the International Finance Corp., Asian Development Bank, Overseas Private Investment Corp. and Habib Bank Ltd. are among those financing the projects.
The Alternative Energy Board is in talks for projects totaling another 774 megawatts for wind and 711 megawatts from solar installations. The country currently has 255 megawatt of commissioned wind farms.
The board estimates that the power-starved south Asian country can produce as much as 50,000 megawatts from wind projects. The country currently has a power generation capacity of 22,000 megawatts, though shortages are leading to blackouts that disrupt homes and businesses.
“Power shortfall is causing about $2 billion loss per year to the economy,” Ayaz said in an interview.
Pakistan’s power regulator Nepra has approved an average tariff of 14.5 U.S. cents per unit of solar power and 10.5 U.S. cents per unit of wind energy.