Pakistan gets a 50 MW wind farm to help address power deficits

IFC, a member of the World Bank Group, is providing $66 million, and mobilizing a further $172 million, in a landmark transaction to help build Pakistan’s largest wind power farm, to address severe energy shortages and boost the development of renewable energy.

The financing to Triconboston Consulting Corporation will help construct and operate three new 50-megawatt wind farms in Sindh province. Triconboston is majority owned by the Sapphire Group, a leading Pakistani industrial group, with significant interests in textile and power. The project is part of IFC’s broader efforts to foster private participation in Pakistan’s power sector to increase investments, help diversify energy sources, cut the cost of electricity, and reduce the use of polluting and... ... More: Official Press Release IFC

Keywords:

IFC, Pakistan, investment