0731 GMT September 22, 2019
The power regulator, National Electric Power Regulatory Authority (NEPRA), announced that it has granted a power generation license to Iran-Pak Wind Power (Pvt.) Limited (IPWPPL) for a 20-year period from the day it starts commercial operations, The Express Tribune reported.
"The project will achieve [commercial production] by June 30, 2019," NEPRA said.
The two bordering countries signed an agreement in April 2017 to open commercial bank branches to conduct trade through formal channels. Pakistan has been importing power from Iran for a long time.
According to IPWPPL's application for the grant of the generation license, the cost of the project is estimated at $112.8 million.
The main sponsor of the IPWPPL project includes SUNIR (Iran Power and Water Equipment and Services Export Company) whereas the minority sponsors include the Planet Group and the Tufail Group of Pakistan.
SUNIR is an Iranian group company, made up of 24 independent companies involved in manufacturing of a wide range of equipment with a rich experience in engineering services and consultancy in water and electricity industries.
Since its establishment in 1994, SUNIR has successfully performed a wide range of activities in more than 18 countries.
SUNIR first expressed interest in setting up the wind power project in in Pakistan in 2006. Later, it spent time on acquiring the required piece of land in the wind corridor of Sindh.
The project also qualifies for carbon credits. "Projects coming into operation up to the year 2020 can qualify for the carbon credits," it said. IPWPPL is setting up an approximately 50-megawatts wind power project in the Jhimpir wind corridor of district Thatta.
NEPRA said that the Alternative Energy Development Board has identified two wind corridors (of Jhimpir and Gharo) in the province of Sindh. The estimated potential for these two corridors is more than 50,000 MW.
At the moment, around 13 projects with a cumulative installed capacity of around 650MW have been installed and commissioned whereas another 25 projects including IPWPPL, with cumulative capacity of around 1400MW, are in various stages of implementation.