Private firm to invest US$ 400Mln in Pakistan's energy sector
Pakistan Times Business & Commerce Desk

ISLAMABAD: A private company New Park Energy Limited has planned to invest US$ 400 million in alternative energy sector to generate 400 Megawatts in phases.

According to sources, the company will install a 45 Megawatt wind farm at Karachi in first phase of its 400 Megawatt project. They said after start of production, electricity will be supplied to Karachi Electric Supply Company (KESC) for distribution.

Alternative Energy Development Board (AEDB) has already allowed New Park Energy Limited with the Consortium of General Electric (Wind Energy) Germany, Dorsch Consult Germany and Albario Engineering Limited to install the unit.

The Consortium has 125 years of global experience with over 20 years in Wind Energy technology. Additionally the Consortium has also over 50 years of profound international experience in project and in operational and maintenance management. They said that big foreign exchange spent on oil import for energy generation can be saved by investment in alternative energy sector.

Karachi coast being considered ideal for wind units, the government has decided to provide land to the consortium near Port Qasim to expedite work.●