Pakistan : $288 MILLION sanctioned by OPIC for 50MW wind power plant

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An amount of $288 million in financing for two wind power projects is permitted by Board of Directors of the Overseas Private Investment Corporation (OPIC) poised to deliver much-needed electricity to Pakistan and Peru.

A 50MW wind power plant in Gharo-Ketti Bandar wind corridor will be constructed by OPIC credit facility, which is designed to generate 133 giga watt hours of emission-free electricity annually.

Pakistan will be supported by Sapphire Wind Power plant to diversify its power generation beyond reliance on high-priced fuel oil by tapping vast renewable energy potential, which the corridor alone possesses generation capacity of over 132,000 MW- virtually equal to the world s entire installed wind capacity for 2010.

$200 billion of investment is made by OPIC in over 4,000 projects, generated an estimated $75 billion in U.S. exports and supported more than 277,000 American jobs. Wind farm projects at wind potential sites will be initiated by Alternative Energy Development Board. Private sector has been triggered to invest in wind power. Currently, 45 wind power projects of around 3200 MW capacity are under process.

Courtesy: Power Engineering

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