Sindh to Auction First-Ever Solar Power Project

Sindh

Sindh government is ready to auction the first-ever solar power project via the bidding process by March 2020. Pakistan in this new tech era wants to attract power projects via competitive bidding to offer cheaper electricity to the people.

Till now, Pakistan offered incentives to the investors under the cost-plus tariff formula to attract power projects. This ensured a fixed internal rate of return (IRR) to investors.

Due to the achievement of surplus installed capacity of power production in these times, Pak authorities have also decided to shift to new power projects via the tariff-based competitive bidding.

Sindh Solar Energy Project (SSEP) Project Director Mehfooz A Qazi said, “We are set to auction the first 50-megawatt (MW) solar power project at Manjhand (district Jamshoro) through competitive bidding by February-March.”

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The President has called for transferring to solar energy. The 50MW project is basically part of the planned 400MW solar power park in Sindh. It is estimated that the project will attract new investment of around $250 million.

He said, “We aim to auction all the potential 400MW solar power projects by 2021 and start supplying electricity to the national power grid within the next five years (2023-24).”

Financial and Technical Assistance will be provided by the World Bank for establishing the solar park.

He said, “We aim to auction all the potential 400MW solar power projects by 2021 and start supplying electricity to the national power grid within the next five years (2023-24).”

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Financial and Technical Assistance will be provided by the World Bank for establishing the solar park.  to auction the 400MW power projects.

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