France investing $20m in Sindh wind project

ISLAMABAD: France is investing $20 million to support a wind project of 50MW facility in Sindh. According to an announcement made by the French Embassy here on Tuesday, PROPARCO, the private sector arm of the French Development Agency, is investing $20 million to support a new wind farm in Sindh province, as part of its efforts to support renewable power generation and drive economic development across Pakistan.

Gul Ahmed Wind Power, an independent power producer, will help the company build and operate the 50-megawatt facility northeast of Karachi.

The project is expected to bolster electricity supplies in Pakistan, where frequent power cuts hamper social and economic development, and cost the country the equivalent of 2 percent of gross domestic product.

The new plant will create jobs (more than 500 during the construction phase and 50 on a long term basis) and help spur growth. The plant will make its greatest contributions during the high-demand summer months.

When wind farms generate most of their electricity. It will provide an environmentally-friendly source of power, helping Pakistan cut back on the use of polluting and expensive fossil fuels by reducing the carbon footprint of the country by an approximate 60,000 tons of CO2-equivalent per year.

CEO of PROPARCO, Claude Priou welcomed this joint operation with the Infraco Asia, IFC and local Pakistani banks, which is fully in line with AFD Groups strategy against climate change. This project will contribute not only to reducing pressure on the countrys power grid, but also to sencouraging the development of strong, reliable and clean energy in the region. It is the third investment of PROPARCO in the energy sector in Pakistan.