Pakistan: ADB to provide $98m for wind energy projects

Pakistan: ADB to provide $98m for wind power projects. The Asian Development Bank has agreed to provide about $98 million for three wind farm projects to be set up by the private sector in Kutti Kun area near Karachi port.

The wind farm projects with an estimated generation capacity of 150 MW involving construction, erection and operation of wind turbines would sell electricity to the national grid under a 20-year contract, officials told media on Wednesday.

The renewable projects have been sponsored by Fauji Foundation, Fauji Fertiliser Bin Qasim, Islamic Infrastructure Fund and Tapal Group.

The sources said that the projects were scheduled to be approved by the ADB’s executive board on Dec 1 and Dec 8.

The ADB will also provide a loan of $31.50 million to the government for a renewable energy sector investment programme, targeting to cover by 2015 3.5 per cent of power generation.

The bank will also provide technical assistance to Pakistan for increased energy security.

The sources said that in view of the chronic energy shortages, the government was undertaking a multi-pronged strategy, including a programme that will replace inefficient thermal generation stations with larger and efficient facilities.