ISLAMABAD: The Special Investment Facilitation Council (SIFC) Secretariat has reportedly pushed the National Electric Power Regulatory Authority (Nepra) and the Private Power and Infrastructure Board (PPIB) for an early resolution of bureaucratic hurdles being faced by M/s TAEL wind power project, well-informed sources told Business Recorder.
On February 13, 2024, a meeting was convened to discuss following two issues being faced by TAEL for achievement of financial close for its 49.5MW wind power project located at Jhimpir, Sindh falling under Category-II of the CCoE decision of April 1, 2019, and identified as “committed” under the latest IGCEP of Feb 2023; (i) tariff determination to be awarded by NEPRA, and (ii) approval of change of shareholding of TAEL to be granted by the PPIB.
The sources said, regarding the tariff determination, the Nepra’s representative informed the meeting that tariff petition was filed in January 2023 and public hearing was held in July 2023. Nepra’s professional team is at an advanced stage of finalising the tariff determination.
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The PPIB director pointed out that the evacuation arrangement for the project should be synchronised with tariff determination timelines. Sponsors of the project informed that grid interconnection study is already approved for the project.
GM NTDC also informed that evacuation arrangement for TAEL is already in place and only short transmission line may be required to connect the project with grid.
In view of the project timelines, i.e., approximately 27 months from now, such additional line and evacuation of power will be comfortably available before scheduled commercial operations date of the project.
Regarding change in shareholding, sponsors of the project informed that request for change in shareholding of the project company was filed to PPIB in September 2022.
The PPIB director responded that request for change of shareholding was placed before the Board for approval. The Board constituted a committee to make its recommendations on the matter. The recommendations from the Committee highlighted some legal issues which were referred by the Board to the Ministry of Law. Response from the Ministry of Law has been received and the entire case is expected to be put before the Board for approval.
After discussion, the meeting decided that Nepra will give tariff determination by end of first week of April 2024, whereas, approval of change in shareholding will be granted by the PPIB Board within February 2024.
The meeting was attended by financial advisors (Bridge Factor), Director Wind/ Solar PPIB, SM Farhad (Din Group), DGM Tech (CPPA-G), Mustafa Tapal (Tapal Group), JS (T) Power Division, Co-coordinator Energy SIFC, Co-coordinator Power (SIFC), Coordinator Power (SIFC), and SME Specialist (SIFC).
Copyright Business Recorder, 2024
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