The development of the 900 megawatts RLNG based Combined Cycle Power Plant at the Bin Qasim Power Station Complex (BQPS-III) has been approved by the K-Electric’s board of governers.
The board has approved development of 900mw (450 x2) RLNG-based combined cycle power plant at Bin Qasim Power Station Complex (BQPS-III), subject to completion of all statutory and regulatory requirements and corporate and commercial actions.
“While the approving the project in principle, the board noticed with concern that favorable result of company’s review petition on Multi Year Tariff (MYT) determination 2017, pending with National Electric Power Regulatory Authority (NERA) is critical for financing and development of this mega project.” the notice reads.
The plan for the development of BQPS-III, including simultaneous upgrades to associated transmission infrastructure, with an estimated cost of $1 billion, was unveiled by the power utility last month.
According to K-Electric’s spokesman, the power demand of Karachi is increasing exponentially with the growing economic, industrial and residential infrastructure.
In consideration of the demand-supply gap of the city, there is a dire need to upgrade the power infrastructure with added investment.
The Bin Qasim Power Station-III comprises two power units of 450 megawatts each. The first unit is targeted to start production by summer 2018 and the second unit is expected to be commissioned by the end of 2019.
The overall project, including a state-of-the-art power plant and simultaneous transmission upgrades, will enhance the reliability of power supply across the K-Electric network.
Once completed, BQPS-III will represent one of the largest private-sector investments of its kind in the country’s power sector.
