Pakistan-based 150 MW solar projects start operations
The projects will supply electricity to the Central Power Purchasing Agency of Pakistan.
A 150-megawatt solar power plant in Sukkur, Pakistan has started operations, capable of generating around 300 gigawatts hours of electricity annually.
In a statement, renewable energy firm Scatec ASA said the projects have a 25-year USD-indexed power purchase agreement with the Central Power Purchasing Agency of Pakistan.
Scatec CEO Terje Pilskog said the power generated by the solar plants can meet the demands of around 150,000 households.
The company holds 75% of the projects, providing operation and maintenance and asset management services, whilst its local partner Nizam Energy will hold the remaining stake.
Dutch development bank FMO, Faysal Bank, Bank of Punjab, Bank Islami, and Pak Kuwait Investment Company provided the non-recourse project debt.