ADB provides loan to increase capacity of Pakistan wind farm

30 October 2011 (Last Updated October 30th, 2011 18:30)

The Asian Development Bank (ADB) is providing a $36.8m loan to increase the capacity of a wind farm in Sindh, Pakistan.

The Asian Development Bank (ADB) is providing a $36.8m loan to increase the capacity of a wind farm in Sindh, Pakistan.

The loan will be used to install more wind turbines at the farm, raising its power output from the current 6MW to 56.4MW.

The installation phase is expected to be complete in 2013.

The farm will then undertake a 20-year take-or-pay power purchase agreement with the National Transmission and Dispatch Company to supply power to the national grid.

Pakistan electric utility Hyderabad Electric Supply currently gets the existing power generated by the wind farm.

The $147m project is being delivered by Turkish energy firm Zorlu Enerji Electrik Uretim, which will provide 30% of the project finance.

The rest of the funding will be secured from the International Finance Corp, the ECO Trade and Development Bank, and Habib Bank.