K-Electric (KE), Pakistan’s earlier month, announced it had received seven bids for the country’s first 220 MW hybrid wind/solar project in Dhabeji, Sindh. Continuing this momentum, KE reached a significant milestone with the opening of the financial bids during a private event in Karachi. JCM Power, a Canadian renewable energy firm, submitted the lowest bid at Rs 8.9189 per unit, setting a new benchmark in Pakistan’s renewable energy sector.
KE has been at the forefront of pioneering competitive bidding in the renewable energy space, having received approval from NEPRA in early 2024. These projects are part of KE’s broader strategy to increase the share of renewable energy to 30% by 2030. Following the bidding process, KE will submit its bid evaluation report to NEPRA for approval.
KE CEO Moonis Alvi expressed his satisfaction, stating, “Alhamdulillah! We are thrilled with the outcome, which was achieved through a transparent bidding process. Congratulations to the successful bidder, and we appreciate the trust investors have placed in KE and Pakistan’s economic potential.”
He further emphasized NEPRA’s role in supporting competitive bidding for such innovative projects. “With this tariff, the government may be able to pass on benefits to consumers,” he added.
KE’s Chief Strategy Officer, Shahab Qader, highlighted the significance of the project, saying, “This is Pakistan’s first hybrid solar-wind project, making it technically challenging but critical for efficiency. Our projects in Winder, Bela, and now Dhabeji, totaling 370 MW, have garnered bids totaling 2960 MW, affirming our long-term strategy.”
