Norwegian company M/s NBT has expressed its interest to set up 500 MW wind-power project in Pakistan by investing about one billion dollar in the alternative energy sector. This was indicated by Arne Myre Chairman of NBT while talking to the Minister for Water and Power, Syed Naveed Qamar, at a meeting on Monday. The seven-member delegation of the NBT presented their business and investment plan.
Myne apprised the Minister that the company has applied for issuance of LOI for 500 MW and expressed that after issuance of LOI, the company will complete 250 MW wind project within 18 months. Sind government has been asked to allocate suitable land at wind corridor. He said that their company owns 27 percent shares of Nordic Wind Power which is one of the big names in the wind turbine manufacturers in the world. He also said that their company will also set up hydro-power projects in Pakistan. Myre also asked for early and suitable tariff and support in clean development mechanism approval from different forums for this project.
Minister for Water and Power, Syed Naveed Qamar welcomed the interest of the company and said that its intrusion in the Pakistani wind energy market would definitely be very encouraging for the market and the other investors. He ensured full facilitation in every step of project development. He asked the AEDB to complete the formalities and issue LOI to NBT at the earliest. He said that all the concerned departments will be contacted to speed up the process allowing prompt initiation of the project. The Minister also asked the AEDB to finalise the upfront tariff for wind projects with Nepra. Qamar also said that the government is giving top priority to the alternative energy projects and offering incentives to those investors who will set up wind-power projects by the end of 2012.-PR
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