Canadian Firm to Invest $500 Million in Pakistan's Wind Farm

Strategic Insights -

A Canadian firm, Axor Group Inc, will invest $500 million to set up a 100 MW wind farm in Pakistan, enabling the country to make its entry into the league of Green Energy users. This investment marks a significant milestone in Pakistan's transition to renewable energy, with the Alternative Energy Development Board (AEDB) registering the firm on a Built Own Operate and Transfer (BOOT) basis. Axor's 100 MW wind farm is expected to contribute 10% of Pakistan's national electricity generation mix by 2015, as envisioned by the AEDB.

Key Takeaways:

  • Axor Group Inc, a Canadian firm, will invest $500 million in a 100 MW wind farm in Pakistan on a BOOT basis.
  • The wind farm is expected to contribute 10% of Pakistan's national electricity generation mix by 2015, as per the AEDB's target.
  • This investment marks the first time a Canadian company has invested in Pakistan's renewable energy sector.
  • Axor plans to expand its capacity to 1,000 MW, with the first 100 MW farm to be set up within 12 months of signing the Power Purchase Agreement (PPA) with the Karachi Electric Supply Corporation (KESC).
  • The registration of Axor with the AEDB paves the way for setting up a series of wind farms in the coastal belt of Sindh.

Statistics:

  • Investment: $500 million
  • Capacity: 100 MW (initial), 1,000 MW (ultimate)
  • Timeframe: 12 months for the first 100 MW farm, with an expected completion by 2015
  • Share of national electricity generation mix: 10% by 2015
  • Location: Coastal belt of Sindh

Sources:

  • Asia Pulse (February 23)
  • (Punjab Provincial Information) February 23, 23-02 1148