Daily Times reported that China Three Gorges Project Corporation has plans to invest up to USD 15 billion for generating 10,000 MWs power in the country during the next 5 years.
Alternate Energy Development Board has achieved a landmark success and federal minister for water and power Mr Naveed Qamar performed the groundbreaking ceremony of first of twenty 50 MW wind power plants to be constructed by CTG Wind Farm Pakistan Limited with an investment of USD 130 million.
Mr Naveed Qamar said that CTG Wind Farm Pakistan Limited already working on two other projects of 50 MW each is seeking additional land for 450 MW and has already commitment with AEDB for setting up 1,000 MW in Sindh in the next 3 to 4 years.
The minister said that finalization of Wind Energy Policy with upfront tariff and documentation has started giving results and has attracted investment from China and other countries to follow. He said that Pakistan has a potential of 50,000 MW wind power and Chinese investment would help exploit it for national development. He said that Chinese company CTG would also make investment in Kohala Hydropower Project and other hydropower projects and hoped for it's success.
Three Gorges First Wind Farm CEO speaking about its USD 130 million 50 MW wind power plant in Jhimpir Thatta, Sindh announced that CTG has plans to invest up to USD 15 billion for generating 10,000 MW power in the country during the next five years. Chinese company is making investment in Pakistan's power sector from its own financing in wind power project and the 1,100 MW Kohala Hydropower project in the country.
Mr Wang said that "As the CTG expands its overseas investment, our first priority remains Pakistan, and we are interested to generate 10,000 MW hydel and wind energy in Pakistan." He said the first project of 50 MW will be completed by late summer 2012. The firm is seeking additional land for a 450 MW project and has given its commitment to set up 1,000 MW in Sindh in the next 3 to 4 years. It will be making all the investment through its own resources.
CTG has shown interest to invest in four mega hydropower power projects of Bhasha, Bunji, Kohala and Karot, provided the government removes legal bottlenecks in the award of contracts. Pakistan had already signed memorandum of understanding with CTG for the construction of 7,100 MW Bunji Hydropower, while the contract for 1,100 MW Kohala Hydropower project was awarded to it this year.
(Sourced from www.dailytimes.com.pk)
