Irshad Salim — A private Chinese conglomerate has announced plans to invest $1.5 billion for developing wind energy in Punjab – Pakistan’s largest province, on public-private partnership (PPP) basis.
Sany Group, which is one of China’s top construction machinery manufacturers, is being facilitated by the Punjab Board of Investment and Trade (PBIT), for site-selection for the wind farms in the province — the province is also hosting one of the largest solar farms in the region — the 1GW Quaid-e-Azam solar park in Bahawalpur.
A top representative of the company, Ryan Zhao, said Sany Group will continue to make sustainable efforts to develop business in Punjab’s emerging economy.
According to reports, the PBIT is sharing with the group the renewable energy mapping report, an open-data source prepared by the World Bank, to identify sites for the wind power projects — the Chinese company has already selected two sites, it has emerged.
The firm signed a Memorandum of Understanding with the Punjab Power Development Board (PPDB) in May to develop wind power projects of 1,000-megawatt capacity over a period of five years. They have also signed an MoU with PBIT for facilitation services.
Punjab has established PPDB as a one-window facilitator to promote and encourage private sector in power projects on behalf of the Punjab provincial government.
Sany also plans to invest in the development of wind energy in Kazakhstan, according to recent statements by the company’s vice president.
Kazakh government plans to increase the share of renewables in the overall energy structure of the country up to 50% by 2025.
To date, the Kazakh government has approved a special tariff for wind power in the country, which is set at $0.072/kWh.