The K-Electric has announced that it has received a total of 15 bids for the first of its renewable energy initiatives of 150-megawatt (MW) solar projects at Winder and Bela in Balochistan.
In a statement, the power utility said it had completed a significant milestone in its ambitions to enhance the share of renewable energy in its generation mix, envisaged under the company's Power Acquisition Programme (PAP).
The KE said it initiated a competitive bidding process for multiple renewable energy projects earlier this year following approval from the National Electric Power Regulatory Authority (Nepra).
Over the next 5 years, the power utility aimed at adding a total of 1,300 MW of renewable energy projects, furthering its commitment to sustainable energy solutions.
KE Chief Executive Officer Syed Moonis Alvi said garnering 15 bids for the first cohort of the solar energy project was a milestone for the KE as well as for Pakistan. “It represents local and international players' trust in KE as a brand, as well as growing confidence in Pakistan’s economic potential. I am delighted to see several reputable firms sharing our vision to build a resilient, robust and sustainable energy future for Karachi,” he remarked.
He said the company's future investment plans worth almost USD 2 billion for improvements in its transmission and distribution infrastructure underscored its commitment to innovation and sustainable growth.
KE Chief Strategy Officer Shahab Qader Khan said such renewable energy projects were in accordance with the KE's vision and NEPRA's directives to prioritise local fuels and green sources.
“We are optimistic that the success of these projects will encourage others to participate in the subsequent process as well. This will play a pivotal role in KE's pursuit for fuel mix diversification and simultaneously contribute towards catalyzing the economic progress of the country," he said.
The statement read that the KE extended invitations to reputable local and international companies with power projects experience and sound financial standing to participate in the bidding process. A total of 15 number of bids were received for the first of the renewable energy projects.
In addition to the 150MW solar project in Balochistan, for which the bidding has been closed, 270MW projects in Sindh, comprising a 120MW project at Deh Halkani and 150MW project at Deh Metha Ghar in District West, Karachi, along with a 220MW hybrid (wind and solar) project at Dhabeji are at the bidding stage.
According to the statement, the KE is a public listed company incorporated in Pakistan in 1913 as the KESC. Privatised in 2005, it is the only vertically integrated power utility in Pakistan supplying electricity to Karachi and its adjoining areas.