Welcome to official website of PRES

China to invest $6bn in energy sector

The Chinese government has agreed to invest $6 billion in Pakistan’s energy sector during the next five years. On Friday, it showcased its projects to the Board of Investment (BoI) aimed to generate enough renewable power from water, solar and wind sources, to help Pakistan overcome the ongoing energy crisis.

Vice President CWE Investment Corporation Wang Shaofeng met here with Chairman BOI Mohammad Zubair with a delegation and told him about the CWE’s investment projects. Significantly, nine other projects are already operating in the country.

Since January 2013, a project of 50megawatts (MW), three gorges first wind farm has been initiated and its financial closing is almost complete. All civil work and 50 percent wind-turbine installation is scheduled to be completed by the end of this year. The project will enter commercial operation in June 2014, the visiting delegation said. Shaofeng said there is also a 100MW three gorges second wind farm and its site is just adjacent to that of the first wind farm project. The 720MW Karot hydropower project at has been approved by Nepra at the feasibility and tariff stages. Feasibility updating and optimisation works will be completed by June next year, the delegation reported. Project construction is scheduled for the end of 2014 and the construction period is estimated at five years.

The 1,100MW Kohala hydropower project is at the first stage. Tariff negotiation began in September 2011 with NTDC and the parties having held three rounds of negotiations by now. Land acquisition and preparation for construction are scheduled for 2015 and construction is expected to begin in 2016.

Construction work will begin in 2015 on another 120MW Taunsa hydropower project and is expected to take four years to complete. This project has already been approved by the Punjab Power Development Board (PPDB).

A third phase of three gorges wind farm with a generation capacity of 350MW will be also constructed. With respect to the wind measurement project in Punjab, the installation of wind mast in district Chakwal and Rajanpur has been completed.

In the solar power sector, a 50MW solar power project is set to be constructed in Punjab whose feasibility study has been approved by the PPDB. Furthermore, a 50MW solar power project in Sindh is also under consideration.

Comments are closed.