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Vestas Seeks $2.2 Billion With Punjab for Pakistan Wind Farms
Vestas Wind Systems A/S, the world’s biggest wind turbine maker, will help Pakistan’s Punjab government obtain $2.2 billion in finance needed for four wind farms in the southwestern part of the province.
The company based in Aarhus, Denmark, signed a letter of intent with the province’s chief minister to build the first 250-megawatt stage of the Quaid e Azam Wind Park, which may reach 1,000 megawatts, according to a statement issued by the Danish embassy in Islamabad. Vestas has identified potential sites for the future wind farms.
The deal is part of Pakistan Prime Minister Nawaz Sharif’s effort to halt blackouts that last as long as 18 hours. The nation relies on hydroelectric dams and fossil fuels for almost all of its 25 gigawatts of generation capacity and is also building fossil-fuel power plants, according to Bloomberg New Energy Finance.
“This project will contribute greatly to overcoming Punjab’s energy shortage,” Jesper Moller Sorensen, political director at the embassy, said in the statement. “The government of Denmark stands ready to support the Punjab government with building further capacity and expertise in the field of renewable energy.”
The first 250-megawatt part of the Quaid e Azam Wind Park is due to start in 2018. Vestas along with the Danish embassy will work with the government of Punjab to obtain funds to build all the projects, the embassy said in its statement.
Pakistan currently has about 308 megawatts of wind-energy capacity through six projects working in the Sindh province, Syed Aqeel Hussain Jafri, director of policy at Pakistan’s Alternative Energy Development Board, said in an interview on Jan. 28. That may increase to 800 megawatts by the end of this year as eight projects in get commissioned, he said.
Vestas Wind Systems A/S, the world’s biggest wind turbine maker, will help Pakistan’s Punjab government obtain $2.2 billion in finance needed for four wind farms in the southwestern part of the province.
The company based in Aarhus, Denmark, signed a letter of intent with the province’s chief minister to build the first 250-megawatt stage of the Quaid e Azam Wind Park, which may reach 1,000 megawatts, according to a statement issued by the Danish embassy in Islamabad. Vestas has identified potential sites for the future wind farms.
The deal is part of Pakistan Prime Minister Nawaz Sharif’s effort to halt blackouts that last as long as 18 hours. The nation relies on hydroelectric dams and fossil fuels for almost all of its 25 gigawatts of generation capacity and is also building fossil-fuel power plants, according to Bloomberg New Energy Finance.
“This project will contribute greatly to overcoming Punjab’s energy shortage,” Jesper Moller Sorensen, political director at the embassy, said in the statement. “The government of Denmark stands ready to support the Punjab government with building further capacity and expertise in the field of renewable energy.”
The first 250-megawatt part of the Quaid e Azam Wind Park is due to start in 2018. Vestas along with the Danish embassy will work with the government of Punjab to obtain funds to build all the projects, the embassy said in its statement.
Pakistan currently has about 308 megawatts of wind-energy capacity through six projects working in the Sindh province, Syed Aqeel Hussain Jafri, director of policy at Pakistan’s Alternative Energy Development Board, said in an interview on Jan. 28. That may increase to 800 megawatts by the end of this year as eight projects in get commissioned, he said.
