STAFF REPORT ISB: After being blacklisted in public sector by PPRA, Chinese company, Dongfang Electric Corporation (DEC), is now eyeing private sector for energy generation projects.
According to sources, Burj Wind Energy, a project of Burj Capital, has applied for the grant of generation licence in Nepra for a 13.5 MW Wind Power Project in Gujju, Sindh.
The company has acquired private agriculture land around 250 acres on lease of 20 years at Gujjo, Pir Jharion, Thatta, Sindh, which falls in Gharo-Keti Bander wind corridor. According to the company it has to sign an Implementation Agreement (IA), with AEDB, and Energy Purchase agreement with National Transmission and Dispatch Company Limited (NTDC).
According to the documents the company attached with the power generation licence application, the project cost would be financed by 75 percent loan while 25 percent would be equity.
The company believes that it would achieve financial close (financing) by 31st March 2015 and the tentative date for the commercial operation of the project would be June30, 2016.
Chinese Company DongFang was blacklisted in Pakistan after supplying faulty railway locomotives to Pakistan, depriving national kitty of around $98million.
According to the companys website most of the companys hydro power projects are in Pakistan.