Pakistan's Northern Power Generation Company Limited (NPGCL) has signed a Memorandum of Understanding (MoU) with Chinese firm Ningbo Green Light Energy Pvt Ltd (NGLEL) to convert an existing thermal power plant to a 300-megawatt solar power plant.
According to the 24News HD TV channel, the project is facilitated by the Special Initiative Facilitation Council (SIFC) and it will upgrade an existing thermal power plant to a solar power facility.
The channel reported that this initiative is expected to annually generate 400 million units of electricity at a significantly reduced cost. The cost per unit is anticipated to drop from 45 rupees to as low as 14 rupees.
By utilizing the land, assets, and infrastructure of Northern Power Generation Company (GENCO-III), this project not only promises economic benefits but also strengthens SIFC's campaign towards renewable energy adoption.
Furthermore, the project will eliminate the need for heavy fuel oil (HFO) as an energy source. Stakeholders are expected to benefit from this project with an estimated annual savings of $44 million due to reduced expenditure on energy bills.
Reporter: Ahmed Mansoor