World Bank to lend $100 million for Pakistan’s Sindh solar energy project

• 5 years ago (2019-01-10)
• David Flin

Asia 859 Solar 249

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Pakistan and the World Bank have signed a financing agreement worth $100 million for the Sindh Solar Energy Project. This is aimed at increasing solar power generation and access to electricity in the province. The terms of the agreement say that Pakistan will return the loan in 30 years, with a five-year grace period.

The project will support the deployment of solar power in Sindh spanning three market segments; utility-scale, distributed generation, and domestic level. The utility-scale includes development of solar parks to support private sector investment and the launch of Pakistan’s first competitive bidding for solar power production, starting with an initial 50 MW pilot solar auction.

Distributed solar generation will include at least 20 MW of distributed solar PV on rooftops and other available space in and around public sector buildings in Karachi, Hyderabad, and other districts of Sindh. Solar energy systems will be provided to 200,000 households in areas with low or no electricity access.

The project is intended to support IPPs to develop 400 MW of new solar power capacity, including an initial 50 MW pilot project.