[ad_1]
KARACHI: K-Electric, Pakistan’s sole private utility company, achieved a significant milestone with its 220 MW hybrid wind/solar project in Dhabeji, Sindh, receiving seven bids.
Following approval from Nepra, KE pioneered a competitive bidding process in renewable energy. JCM Power, a Canada-based renewable energy firm, submitted the lowest tariff bid of Rs8.9189 per unit.
KE aims to increase renewable energy’s share to 30% of its mix by 2030. CEO Moonis Alvi expressed satisfaction with the transparent bidding process, thanking investors for their confidence in KE and Pakistan’s economic potential.
He also appreciated Nepra’s support, highlighting the project’s alignment with KE’s vision to integrate renewables, reduce generation costs, and decrease dependence on imported fuel sources.
Chief Strategy Officer Shahab Qader noted that this project integrates solar and wind energy for improved efficiency and requires specialized expertise.
KE’s renewable energy projects in Winder, Bela, and Dhabeji garnered 2,960MW in offers, affirming the company’s strategy to achieve the cheapest generation cost possible.
This approach has the potential to break the cycle of dependence on costlier sources, reduce energy production costs, and contribute to Pakistan’s economic progress.
KE will submit the bid evaluation report to Nepra for approval, marking a significant step towards a sustainable future.
[ad_2]
Source link
