Huge Solar Power Plant to be setup in Gwadar City
KARACHI: A Germany-based developer has applied for a generation licence to set up 50 megawatts of solar power plant in Balochistan with an estimated investment of $56.15 million, reported *The News*.
According to the report, IB VOGT GmbH, a Germany-based integrated solar developer, planned entry into Pakistan’s renewable energy market with a solar power plant to be set up in Gwadar, though its special purpose vehicle P&G Energy Pvt Ltd. P&G Energy approached the National Electric Power Regulatory Authority (Nepra) for a generation licence.
According to a document, Balochistan Power Development Board issued a letter of intent to the sponsors of the project. After issuance of the letter of intent, the sponsors of the project incorporated a special purpose vehicle P&G Energy Pvt Ltd. IB VOGT creates business in more than 55 countries, operating internationally from its headquarters in Berlin, Germany and offices in UK, USA, Australia, Panama, Poland, Spain, India and SouthEast Asia, as well as several joint ventures across Africa.
The global outlook report produced by PV industry body SolarPower Europe expected Pakistan to have 5,000 MW of solar generation capacity installed by 2022, up from around 1,000 MW at present.