Solar power firms seek Nepra for generation tariff

KARACHI: Two solar power producers have approached the National Electric Power Regulatory Authority (Nepra) seeking generation tariff for their facilities of 50MW each, proposed to be setup in Khyber Pakhtunkhwa with a cumulative investment of $100 million approximately.

Kulachi Solar Power Pvt Ltd having H1 Holdings South Africa, Atlantic Energy, Target Energy and Alternative Grid North Africa on its back intends to setup a 50MW solar power plant in KP with an investment of $48.75 million. The company has proposed a levelized generation tariff of US cents 7.6314/kWh. The debt to equity ratio is 75:25 and the sponsors have obtained expression of interest from Kfw DEG, Germany for 100 percent debt requirement of the project. The project company has engaged three different international third-party security advisors, namely Frontier Services Group (FSG), OGM International and SRM Intelligence and Risk Consulting. These companies have relevant knowledge and have presence in KP, to prepare a master security plan for the project.

Similarly, Saudi-based FAS Energy Pakistan plans to develop a 50MW solar power plant in KP with an investment of $49.77 million.