Renewable energy: Buksh joins hands with foreign firms in $400m project

[Edevelop]

LAHORE: As the country is making strenuous efforts to overcome the energy crisis, some foreign investors have come forward and shown keen interest in investing a handsome amount in the energy sector in association with the private sector, especially in the energy-starved Punjab province.

Foreign firms along with a local company namely Buksh Energy recently agreed to invest around $400 million in Punjab to generate 200 megawatts of electricity through renewable sources.

“We are only waiting for a final policy from the Punjab government to generate 200MW via renewable power solutions, in particular wind energy, which will immediately bring foreign investment worth $400 million in the country,” said Buksh Energy Private Limited Chief Executive Asim Buksh in an interview with The Express Tribune.

He said electricity generation through wind had been undertaken in the southern coastal regions of Sindh via small projects, but no practical work has been initiated in Punjab so far, and studies in this regard are at a very initial stage.

“Our vision is to ensure that our company provides 5% of Pakistan’s energy needs via renewable sources by 2020,” Buksh added.

Founded in 2009, Buksh ventured into the renewable energy sector, to the surprise of many, when the country was going through the worst energy crisis.

The family’s expertise lies in the retail sector and their retail outlets are popular throughout Lahore.

After diversifying the expertise to other fashion brands and luxury automobile franchises, the company decided to take on the challenge with the thought of not only promoting the culture of energy conservation but also making some profits out of it.

In energy conservation, Buksh Energy worked closely with some commercial clients for the reduction of their load. Soon it started providing solar solutions to the commercial and residential clientele, the majority of whom were banks.

Buksh Energy is the first company to win a contract to establish a 10MW solar energy plant at the Quaid-e-Azam Solar Park in Bahawalpur.

After having spent some years in providing solar technology, the company now is diverting its focus towards wind energy solutions. They have collaborated with a Dutch company – Global Wind Power – for supporting the wind energy sector of the country on a turnkey basis and will provide a strategic balance of services.

“We also have plans to generate electricity via municipal waste as part of our long-term policy, but this will take some time,” said Buksh.

Renewable energy: Buksh joins hands with foreign firms in $400m project – The Express Tribune

 

[shaheenmissile]

400 Million USD for just 200 megawatts?
Thats 2 Million USD per megawatt of Non sustainable electricity as Wind Turbines rarely work at full capacity.
Total ripoff.

 

[Edevelop]

400 Million USD for just 200 megawatts?
Thats 2 Million USD per megawatt of Non sustainable electricity as Wind Turbines rarely work at full capacity.
Total ripoff.

As long as its private and foreign investment shouldn't matter.

I personally would prefer clean energy over dirty coal.

 

[shaheenmissile]

As long as its private and foreign investment shouldn't matter.

I personally would prefer clean energy over dirty coal.

These rhetorics suit Rich westerners with Electricity to spare . We have our Patients dying in Hospitals due to load shedding and People cannot Pay for expensive Electricity no matter how green.
I rather have cheap affordable Dirty coal electricity,and once shortage is tackled,later think about cleaner ways.

 

[ArsalanKhan21]

400 Million USD for just 200 megawatts?
Thats 2 Million USD per megawatt of Non sustainable electricity as Wind Turbines rarely work at full capacity.
Total ripoff.

This is not one year project ! You have to justify costs and benefits over 10-15 year period at least. Nuclear plants are also expensive but they are profitable after 10-15 years of operation.

 

[shaheenmissile]

This is not one year project ! You have to justify costs and benefits over 10-15 year period at least. Nuclear plants are also expensive but they are profitable after 10-15 years of operation.

Yes but nuclear Plants can operate at full capacity .
Wind turbines cannot. Because wind is not a constant thing and cannot be stored either.

 

[Gentelman]

Its good to see local companies also wanting to play their part to end the energy crisis.. Let's turn of the fan and play our part..

 

[Gufi]

Wind turbines cannot. Because wind is not a constant thing and cannot be stored either.

The fact of the matter is people think wind gives u power 24-7 n at a steady rate.

 

[ziaulislam]

As long as its private and foreign investment shouldn't matter.

I personally would prefer clean energy over dirty coal.

actually it matters, according to nepra rules.
the return rate is calculated on project cost. the return rate is fixed at 4 years. there is no upfront tariff, nepra decides it. the more the expensive the project the higher is the electricity cost.

NEPA looks into every project including wind/hydro, approves the cost and
tariff

on production side, power solution lies in exploring all fields but focusing on indigenous coal /hydro for long term and LNG based for short term. however, i believe the main problem lies in distribution sector

 

[WishLivePak]

400 Million USD for just 200 megawatts?
Thats 2 Million USD per megawatt of Non sustainable electricity as Wind Turbines rarely work at full capacity.
Total ripoff.

Because wind energy you don't need to buy fuel? They have super high upfront cost for a reason, as they require little maintaince and no fuel. So no need to buy coal, gas or oil to produce electricity.

Yes but nuclear Plants can operate at full capacity .
Wind turbines cannot. Because wind is not a constant thing and cannot be stored either.

But it can largely reduce load shedding in long run. Also on good days, when there sufficient wind throughout day, it can give good power. There could be bad days too.

The point is where they put the wind towers. Location is very important.