LAHORE: The National Transmission and Despatch Business (NTDC) on Tuesday safeguarded Rs6.4 billion funding from a three-member consortium of financial institutions for building and construction of a 220kV/132kV grid terminal and also 35 kilometre-long allied transmission lines for obtaining 1,274 MW of lean renewable resource power from 10 wind power tasks being set up in Gharo-Jhimpir wind passage near Tando Muhammad Khan in Sindh.
The arrangement for the car loan, accepted by the consortium (National Bank of Pakistan, Habib Bank Limited as well as Bank Islami Pakistan Limited) was authorized by the NTDC Handling Supervisor Muhammad Ayub as well as the consortium’s agents Asad Altaf, Zia-ud-Din Tahir and also Amir Ashraf at a ceremony held below at Wapda Home.
It is for the first time that the NTDC is raising funds from its very own sources (annual report) without a warranty of the federal government.
“Formerly, we had actually counted on the Government of Pakistan’s guaranteed fundings from the regional market,” Mr Ayub claimed while talking on the celebration. The financing facility would be a precursor for more financing for upcoming NTDC tasks, he stated.
According to the MD, the PC-1 cost of the Jhimpir-II transmission lines as well as substation task is Rs10.753 bn whereas the funding required is Rs6.4 bn. The continuing to be amount will certainly be arranged by the business from its own available financial resources.
The task will have sufficient capacity to send even more power in future. To meet the future development needs in Gharo-Jhimpir wind hallway, the 220kV grid terminal would certainly be upgraded to 500kV ability in coming years, he claimed.
According to a main source, the work on 10 economic sector wind power projects is under way at fast lane currently. These consist of Hullabaloo Energy, Gul Ahmed Electric, Metro Wind Power, NASDA Green Energy, Liberty Wind Power-I, Freedom Wind Power-II, ACT-2 Wind, Indus Wind Energy, Lakeside Power as well as Artistic Wind Power.
Each of these 10 wind power tasks has an ability of 50MW and the projects are readied to begin their industrial procedures from February next year.
Later, more projects will certainly be introduced in Gharo-Jhimpir wind power cluster, the authorities, asking for anonymity, told Dawn. Twenty-four such projects with a set up capability of 1085MW have already been finished in this collection, which are contributing around 950MW to the nationwide grid presently. Our existing 220kV Tando Muhammad Khan grid and also lines are taking power from these plants as well as adding it to the nationwide grid, he discussed.
He said the Rs6.4 billion small business loan would be transferred to the company accounts from the consortium.