ADB has provided $33.92 million loan to Zorlu Enerji Pakistan Limited (ZEPL), a wholly owned subsidiary of Zorlu Enerji Elektrik retim (the sponsor), to build a landmark wind power project in Sindh Province that will increase the country's renewable energy generation capacity. The project, a 56.4 MW wind power plant, was developed in two phases. Phase 1 (6 MW) was constructed through equity financing in 2009 and Phase 2 (50.4 MW) was constructed with a combination of equity and debt by ADB and other lenders. The power offtaker is National Transmission and Despatch Company (NTDC), under a 20-year take-or-pay Energy Purchase Agreement (EPA). The Government of Pakistan (GOP), acting through Alternate Energy Development Board (AEDB), guarantees NTDC's obligations under the Implementation Agreement (IA) and bears the wind availability risk. The final project cost slightly increased from $147 million to $152.9 million (primarily on account of USD/Euro fluctuation and IDC).
Latest Project Documents
|Zorlu Enerji Power Project: Environmental and Social Development Annual Monitoring Report (FY2012)||May 2013|
|Zorlu Enerji Power Project||Nov 2010|
|Zorlu Enerji Power||Aug 2010|
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