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Islamabad: June 22 – AEDB has declared the achievement of financial closing for 49.5 MW wind power project of M/s FFC Energy Ltd located at Jhampir, Distt. Thatta, Sindh. The announcement was made in a ceremony held at the AEDB Head Office today. During the ceremony, the AEDB also issued the Guarantee on behalf of Government of Pakistan in favor of the project company. The document was signed by Mr. Arif Alauddin, CEO on behalf of Government of Pakistan. Chief Execute & Managing Director FFC, Lt. Gen. (Retd.) Malik Arif Hayat, HI (M) received the GoP Guarantee on behalf FFC Energy Limited.  

The Minister for Water & Power, Syed Naveed Qamar, on this occasion congratulated AEDB and FFC for achieving this historical landmark in wind energy sector. He said that Pakistan possesses immense wind resources, especially in the coastal areas of the country, which had remained untapped. Now with the FFC financial close, the pathway has been set forth for the fast development of the sector, as now the entire background infrastructure like IA, EPA, Tariff, Grid Code is in place for the other wind power projects, he added. He said that Pakistan offers an investment friendly and lucrative wind energy market for the investors and equipment suppliers. The incentives offered in the RE Policy are quite lucrative for private sector investment.

Syed Naveed Qamar praised the efforts of AEDB in facilitating the private sector companies. He said that he has put forth all his eggs in AEDB’s basket to ensure prompt development and harnessing of wind energy. He said that the GoP is eyeing at commissioning of at least 1,000 MW through wind energy through private sector and AEDB has to play a vital role in materializing this target. The Minister said that the government would soon announce feed in tariff as fixed tariff for RE projects especially wind. He said that FFCEL financial close was beginning of a series of wind projects, as there were another 7-8 more projects in pipeline, expected to achieve financial close during the current year in wind sector alone. The Minister said that Federal Government was in contact with Sindh government for their help in getting more land for wind project in Gharo-Ketibandar Wind Corridor. He said more corridors being explored all over the country, wind masts were being installed in Balochistan and Punjab. He also appreciated the AEDB team for its relentless efforts in achieving the success. He added that it would be able to achieve the target with same spirit. Responding to the question of merging AEDB with other government department the Minister said that AEDB has been mandated with specific target of harnessing renewable energies which it is endeavoring to accomplish. Till the time the department is performing its merger with any other government department is out of question.

Chief Executive and Managing Director of the Company Lt. Gen (Retd.) Arif Hayat said that it was a gala day for them; they had been working on the project since 2007. He said that the FFC project would be expanded to another 100 MW. Underlining the power needs of the country, he said that FFC and their partners would be in forefront to explore this potential in national interests. He appreciated AEDB for their facilitation, which helped made the project a success.

CEO AEDB, Mr. Arif Alauddin also appreciated the pioneering efforts of FFC Energy Limited. He appreciated NEPRA for quick processing of FFC case in shortest possible time, and NORDEX for not only supplying turbines but also being EPC Contractor of the project. Only a few years ago, the wind energy sector of Pakistan had little attraction to the investors and suppliers. Now seven (07) of the top ten (10) EPC contractors / manufacturers are ready to provide their services in Pakistan. The financing of projects has also become available with IFC, ADB, OPIC, CAP ASIA and other financing institutions ready to finance wind power projects. The CEO AEDB thanked the Minister for gracing this event and valued participation of all in sharing these cheerful moments.