MasterWind Sindh Wind Farm

active

Master Wind Energy Pvt. Ltd. reached financial closure on a 50MW Wind Farm, Jhampir, Sindh Province. The project cost is $133 million, of which $100 million is debt financed. The equipment supply contract was awarded to GE, from the USA. GE would supply turbines of the type GE 1.5-MW XLE, of 1.5MW each. Land for the project was awarded by the government of Pakistan. The O&M of the Project will be performed by the EPC Contractor (PowerChina) during the first two years following Commercial Operations Date on a turnkey basis. There after, General Electric will directly under take the O&M of the Project from year 3 to 10 (following commercial operations date). The project is being developed under the Upfront Tariff Regime announced by the Government in 2013. The Feed in Tariff (along with permitted indexations and escalations) will be applicable through out the concession period of 20 years from achievement of commercial operations. The concession shall be backed by sovereign guarantees that are given by the GOP under the Concession Agreements namely the Energy Purchase Agreement and the Implementation Agreement. For MWEL, with 50% local and 50% foreign financing, electricity will be supplied to the grid at a levelized rate of 14.74 Rs/kwh. Details of the tariff are summarized below: No further information was available. https://www.opic.gov/sites/default/files/files/MWEL-public-info-summary-fy14.pdf Source: Renewable Energy Report: Pakistan Agency Issues Proposal to Create Feed-in Tariff for Wind Energy Production (31 October 2011)