Turkish power utility will install additional wind turbines to increase the capacity at its wind energy project in Sindh province to 56.4 megawatts from 6 megawatts.
Zorlu Enerji Elektrik Uretim AS, a Turkish power utility, has won a $36.8 million loan from Asian Development Bank to expand its wind farm in Pakistan. The loan will help Zorlu Enerji install additional wind turbines to increase capacity at its wind power project in Sindh province to 56.4 megawatts from 6 megawatts. Loan is for 12 years with a two-year grace period
Expansion of wind farm, located about 100km northeast of Karachi, will cost $147 million and is expected to be completed by 2012. The project will be financed with 30% equity from Zorlu Enerji and 70% through dollar-denominated loans from ADB, International Finance Corp., ECO Trade & Development Bank, as well as a Pakistan rupee loan from Habib Bank Ltd.
It will supply power to the national grid through a 20-year power purchase agreement with Pakistans National Transmission & Dispatch Company. Zorlu Enerjis project is Pakistans first privately owned and financed wind farm, ADB said.
