KARACHI: To be spread over 1,408 acres of land, the Alternative Energy Development Board (AEDB) has issued a Letter of Intent (LOI) for a $125 million 49.50MW wind power project to M/s Master Wind Energy Limited (MWEL), a subsidiary of Master Group.
The 49.50MW wind power project will be set up in Jhampir, district Thatta under Policy for the Development of Renewable Energy for Power Generation 2006.
MWEL has received the generation license and tariff from Nepra under Upfront tariff regime. M/s MWEL has finalised the Energy Purchase Agreement (EPA) with Central Power Purchasing Agency (CPPA). The implementation agreement of the project to be signed between AEDB and M/s MWEL has been finalized. According to the documents, the project is expected to achieve financial close by March 31, 2015 and commercial operation by September 2016. The financing structure of project is 75pc debt and 25pc equity. The project is financed by OPIC and consortium of local banks.
