OPIC to finance $95 Million dollars windpower project to deliver electricity to Pakistan

[alimohsan52]

Source: http://nawindpower.com/e107_plugins/content/content.php?content.11280#.UU2Wezd_3XQ

The board of directors of the Overseas Private Investment Corp. (OPIC), the U.S. government's development finance institution, has approved financing for wind project that will deliver electricity to Pakistan.

A $95 million OPIC credit facility will help build a 50 MW wind project in southeastern Pakistan's Ghoro-Keti Bandar Wind Corridor. The Sapphire Wind Power project will use GE turbines, and will support a goal to diversify Pakistan's power generation. A recent study funded by the National Renewable Energy Laboratory and the U.S. Agency for International Development estimates that Pakistan possesses 132 GW of potential installed wind power capacity.

 

[alimohsan52]

Who is OPIC?

OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical world challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

 

[alimohsan52]

http://zeenews.india.com/business/n...for-wind-power-project-in-pakistan_72759.html

Washington: A federal US body has approved USD 95 million financing for wind power project in Pakistan to build a 50 megawatt power plant.

The Board of Directors of the Overseas Private Investment Corporation (OPIC) gave the approval at its meeting on Thursday along with another USD 193 million wind power project in Peru.

According to OPIC the USD 95 million credit facility will help build the 50-megawatt wind power plant in southeastern Pakistan's Ghoro-Keti Bandar Wind Corridor designed to generate 133 gigawatt hours of emission-free electricity annually.

Using General Electric Wind turbines, the Sapphire Wind Power plant supports a mutual US-Pakistan goal to diversify Pakistan's power generation beyond reliance on high-priced fuel oil by tapping Pakistan's vast renewable energy potential, an official statement said.

A recent study funded by the National Renewable Energy Laboratory and the US Agency for International Development (USAID) estimates that Pakistan possesses 132,000 MW of potential installed wind capacity - virtually equal to the world's entire installed wind capacity for 2010.

The USD 193 million OPIC loan will support a 114 MW wind power project in Peru, the first large-scale wind project linked to the country's power grid.

"The provision of clean and reliable electricity is an essential building block of any economy," said OPIC President and CEO Elizabeth L Littlefield.

"The Board today affirmed OPIC's commitment to support efforts by Pakistan and Peru to diversify their energy production to include important contributions from renewable energy sources," she said.

"The wind power projects will enable both countries to take advantage of their massive renewable energy potential to help meet unmet demand for electricity," Littlefield continued.

"We are thrilled to partner with innovative US companies to bring these highly-developmental projects to realization," she added.

 

[gotti]

Who is OPIC?

OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical world challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC achieves its mission by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

I thought you misspelled OPEC, at first :lol:

 

[Star Gazer]

Asad Umar said in Abbasi's program that we could have generated 3000 MW of coal generated electricity from investment of 72 billion rupees which was spent on MBS in Punjab.

A question of priorities and best use of available resources.

 

[alimohsan52]

Asad Umar said in Abbasi's program that we could have generated 3000 MW of coal generated electricity from investment of 72 billion rupees which was spent on MBS in Punjab.

A question of priorities and best use of available resources.

I personally feel Pakistan should use variety of sources for its power generation.

 

[alimohsan52]

http://tribune.com.pk/story/525005/renewable-energy-us-provides-financing-for-wind-power-project/

WASHINGTON: The Board of Directors of the Overseas Private Investment Corporation (OPIC) has approved $95 million in financing for a wind power project poised to deliver much needed electricity to Pakistan.



The credit facility will help build a 50 Megawatt (MW) wind power plant in the Ghoro-Keti Bandar Wind Corridor in south-eastern Pakistan, designed to generate 133 Gigawatt hours of emission-free electricity annually.


A statement from OPIC which is a development finance institution for the US government, said that using General Electric Wind turbines the Sapphire Wind Power plant supports a mutual US-Pakistan goal to diversify Pakistan’s power generation beyond reliance on high-priced fuel oil by tapping Pakistan’s vast renewable energy potential.


“The provision of clean and reliable electricity is an essential building block of any economy,” said OPIC President and Chief Executive Officer Elizabeth L Littlefield.


A recent study funded by the National Renewable Energy Laboratory and the US Agency for International Development estimates that Pakistan possesses 132,000 MW of potential installed wind capacity, virtually equal to the world’s entire installed wind capacity for 2010.


Published in The Express Tribune, March 23[SUP]rd[/SUP], 2013.

 

[alimohsan52]

I thought you misspelled OPEC, at first :lol:

Paajee,

I think Pakistan should cooperate with all countries in order to further our interests including the USA. What is your expert opinion on this?