Fauji Jhampir I Wind Farm

Active

Prospective

FFC Energy Limited, Fauji Fertilizer Company Energy Limitied (FFCEL), incorporated in 2009 and based in Rawalpindi, was a subsidiary of Fauji Fertilizer Company Ltd. The latest reported CEO of FFC Energy Limited was Lt.Gen Malik Arif Hayat. The company was planning the development of the 49.5 MW Jhimpir Wind Farm, Jhimpir, South Pakistan. Tapal Group was also reported to participate as a minority holder. The project was to consist of 33 turbines, supplied by the German company Nordex AG, from their production facilities in China. Construction was expected to commence in July 2010. The equipment supply contract was announced in March 2010. Nordex AG was also the EPC contractor for the project. Commissioning was expected for late-2012. The PPA was signed April 5th 2011 with Central Power Purchasing Agency (CPPA). The project received the land from the Alternative Energy Development Board (AEDB) in 2007. The project was to receive Rs.16.5532 per kWh as awarded by the National Electric Power Regulatory Authority (NEPRA), the tariff was to go down after the 11th year of operation to Rs.4.44 per kWh. The feasibility study had been submitted. Total value was estimated at $135 million. The project was reported here as under development as no record was found on Financial Closure, nor on commissioning. The FC date refers to the date of PPA signing. In May 2012, it was reported that the project was financed by the company in cooperation with the Islamic Development Bank, under Islamic financing principles. The debt had a tenor of 12 years. The project reached financing together with a second wind farm. Total project cost for both plants was US$253 million, implying a pro rata cost of US$126.5 million for each wind farm. The financing consisted of a US$204 million debt portion and a US$49 million equity portion. The debt portion was split in a USD and a Rupee tranche. The Rupee tranche was lead arranged by National Bank of Pakistan, Faysal Bank, United Bank Limited, Allied Bank, and Meezan Bank. The USD tranche was led by the Islamic Development Bank with a credit guarantee from ADB. Dealogic!! http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=105912533 http://www.ffc.com.pk/ Plus News Pakistan, 400MW of power from wind energy this year: AEDB, 16 January 2012 http://www.aedb.org/ffcfinclose.htm Source: ADPREN: Pakistani Fauji Fertilizer Progresses with 50MW Wind Farm-report (15 February 2012). Source: Plus News Pakistan: Wind Energy to be Added to National Grid in Coming Months (24 February 2012). Pakistan and Gulf Economist, Beginnings of Wind Power Generation, 30 September 2012 Frontier Star, Islamic, Asian Banks agree to Fund for Pakistan Wind Power, 23 May 2012

Energy

World Bank Group

Project

Fertilizers, Power Generation (CCGT), Wind, Raw Materials, Government, Commercial