ISLAMABAD: As many as 16 wind and solar power projects with a cumulative capacity of 860 MW have successfully achieve Financial Closing which will expected to be fully operationalized by 2021.

Official sources told APP here that in compliance of the CCOE’s decision, Alternative Energy Development Board (AEDB) has actively been facilitating the Alternative Renewable Energy (ARE) projects that were discarded by the past government on December 12, 2017.

They said that ARE projects were placed in three categories. Under category-1, 19 projects of 531 MW that have already been issued Letter of Support (LOS) subject to revision of tariff in case tariff determination has been done since more than one year or if the tariff validity period has lapsed.

Under, category-II, 24 projects of 1339 MW that have acquired tariff and generation license subject to revision of tariff in case tariff determination has been done since more than one year or if the tariff validity period has lapsed.

Similarly, under category-III, 110 projects of 6707 MW cumulative capacity holding LOIs to be allowed to proceed ahead after becoming successful in a competitive bidding to be undertaken as per demand communicated by NTDC.

It is pertinent to mention here that AEDB has been promoting and facilitating the development and deployment of alternative and renewable energy technologies in the country.

The development of renewable energy based power generation projects is being pursued on IPP mode through private sector investors.

They said 24 wind power projects of 1233.37 MW cumulative capacity had already been operationalized and providing electricity to the grid. Similarly six solar projects of 430 MW cumulative capacity were also providing electricity.