affanpervez
Minister (2k+ posts)
US signs $95m wind power loan agreement in Sindh
ISLAMABAD: The U.S. Ambassador to Pakistan signed a $95 million ten-year loan agreement on Wednesday to build a 50-megawatt (MW) wind power plant in the Ghoro-Keti Bandar wind corridor near Jhimpir in Sindh.
Mr. Richard Olson signed the agreement on the behalf of the United States Overseas Private Investment Corporation (OPIC) with the Sapphire Wind Power Company
Nadeem Abdullah, CEO of the Sapphire Wind Power Company, signed on their behalf a news statement issued here by the U.S embassy said.
The provision of clean and reliable electricity is an essential building block for any economy, Ambassador Olson said.
This project affirms OPICs commitment to support efforts by Pakistan to diversify energy production to include important contributions from renewable energy sources.
It also demonstrates the United States continued commitment to strengthening Pakistans economy and the prosperity of its citizens.
The Sapphire Wind Power Project will enable Pakistan to take advantage of its massive renewable energy potential to help fulfill unmet demand for electricity, OPIC President and CEO Elizabeth L. Littlefield said in Washington on Wednesday.
We are thrilled to partner with Sapphire and General Electric to bring this project to realization.
The 50-megawatt wind power plant will use 33 General Electric (GE) turbines and is designed to generate 133 gigawatt hours of emission-free electricity annually.
The United States and Pakistan are working closely together on such projects designed to diversify Pakistans power generation beyond high-priced fuel oil and tap the countrys vast renewable energy potential.
According to a study funded by the U.S. National Renewable Energy Laboratory, the U.S. Agency for International Development estimates that Pakistan possesses 132,000 MW of potential installed wind capacity virtually equal to the worlds entire installed wind capacity in 2010.
OPIC has invested in 123 projects in Pakistan since 1975. Its current Pakistan portfolio includes 14 active projects worth nearly $300 million in key industries including energy, health care, financial services for small and medium-sized enterprises, and telecommunications.
OPIC is the U.S. governments development finance institution.
It mobilizes private capital to help solve critical development challenges, providing investors with financing, guarantees, political risk insurance, and support for private-equity investment funds. Established in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers.
http://www.thenews.com.pk/Todays-News-3-200020-US-signs-$95m-wind-power-loan-agreement-in-Sindh
ISLAMABAD: The U.S. Ambassador to Pakistan signed a $95 million ten-year loan agreement on Wednesday to build a 50-megawatt (MW) wind power plant in the Ghoro-Keti Bandar wind corridor near Jhimpir in Sindh.
Mr. Richard Olson signed the agreement on the behalf of the United States Overseas Private Investment Corporation (OPIC) with the Sapphire Wind Power Company
Nadeem Abdullah, CEO of the Sapphire Wind Power Company, signed on their behalf a news statement issued here by the U.S embassy said.
The provision of clean and reliable electricity is an essential building block for any economy, Ambassador Olson said.
This project affirms OPICs commitment to support efforts by Pakistan to diversify energy production to include important contributions from renewable energy sources.
It also demonstrates the United States continued commitment to strengthening Pakistans economy and the prosperity of its citizens.
The Sapphire Wind Power Project will enable Pakistan to take advantage of its massive renewable energy potential to help fulfill unmet demand for electricity, OPIC President and CEO Elizabeth L. Littlefield said in Washington on Wednesday.
We are thrilled to partner with Sapphire and General Electric to bring this project to realization.
The 50-megawatt wind power plant will use 33 General Electric (GE) turbines and is designed to generate 133 gigawatt hours of emission-free electricity annually.
The United States and Pakistan are working closely together on such projects designed to diversify Pakistans power generation beyond high-priced fuel oil and tap the countrys vast renewable energy potential.
According to a study funded by the U.S. National Renewable Energy Laboratory, the U.S. Agency for International Development estimates that Pakistan possesses 132,000 MW of potential installed wind capacity virtually equal to the worlds entire installed wind capacity in 2010.
OPIC has invested in 123 projects in Pakistan since 1975. Its current Pakistan portfolio includes 14 active projects worth nearly $300 million in key industries including energy, health care, financial services for small and medium-sized enterprises, and telecommunications.
OPIC is the U.S. governments development finance institution.
It mobilizes private capital to help solve critical development challenges, providing investors with financing, guarantees, political risk insurance, and support for private-equity investment funds. Established in 1971, OPIC operates on a self-sustaining basis at no net cost to American taxpayers.
http://www.thenews.com.pk/Todays-News-3-200020-US-signs-$95m-wind-power-loan-agreement-in-Sindh
