ISLAMABAD - Alternative Energy Development Board (AEDB) on Tuesday signed Implementation Agreements (IAs) with the representatives of 11 wind power projects with the cumulative electricity capacity of around 560 MW.

AEDB Chief Executive Officer (CEO) Dr Rana Abdul Jabbar signed the agreements on the behalf of government of Pakistan.

It is worth mentioning here that the Central Power Purchase Agency (CPPA) had on Monday signed an agreement with the representatives of 11 wind power projects, to which the AEDB had issued Letters of Support last week.

The projects, to be developed in Jhimpir, Sindh, have the cumulative capacity of 560 MW. It is estimated that these projects would provide around two billion units of clean energy annually.

These projects are 50 MW ACT2 Wind (Pvt) Ltd, 50 MW Artistic Wind Power (Pvt) Ltd, 50 MW Din Energy (Pvt) Ltd, 50 MW Gul Ahmed Electric Ltd, 50 MW Indus Wind Energy Ltd, 50 MW Lakeside Energy (Pvt) Ltd, 50 MW Liberty Wind Power 1 (Pvt) Ltd, 50 MW Liberty Wind Power 2 (Pvt) Ltd, 60 MW Metro Wind Power Ltd, 50 MW NASDA Green Energy (Pvt) Ltd and Tricon Wind Power Ltd.

AEDB CEO Dr Rana Abdul Jabbar said on the occasion it was for the first time that so many projects had been signed simultaneously. “As soon as these projects achieve the financial closing in the coming week, approximately $800 million will be invested in Pakistan,” he said, and added, “These projects are expected to come online by year 2021.”

Abdul Jabbar appreciated the efforts made by the private sector for providing cleaner and cheaper electricity to consumers in Pakistan.

The Government of Pakistan has planned to increase the share of Renewable Energy to at least 30 percent by 2030.

AEDB CEO was of the view that the increased share of renewable energy in the overall generation mix will not only bring down the overall basket tariff, but will also help reduce the import bills of Pakistan.

“Furthermore, the huge investment in the field of renewable energy will also help in achieving the economic growth of Pakistan,” he concluded.