Chinese firm wants LoI for solar plant reinstated by ADB

The CEO of the Chinese firm China Three Gorges, South Asia Investment Ltd has written a letter to the CEO AEDB urging him to reconsider the reinstatement of Letter of Intent (LoI) of its previously proposed solar project of 100MW.

The company was previously issued a LoI under the provisions of the Renewable Energy Policy 2006 (RE Policy 2006) for development of the project. A bankable feasibility study was conducted by the Company and submitted to AEDB for approval, following which, a meeting of the Panel of Experts (POE) was convened by the AEDB to review the feasibility study in accordance with the performance related milestones of the LoI. But in subsequent meetings the Company was informed that the RE Policy 2006 is no longer in practice and the work on finalization of a new Renewable Energy Policy has commenced and further processing of the projects will be done after issuance of new comprehensive Renewable Energy Policy, which has since been approved following the meeting of the Council of Common Interests (CCI) held on August 6, 2020.

China Three Gorges portfolio in Pakistan includes six projects of capacity 2,630 plus MW out of which four projects are under CPEC framework. The project portfolio comprising 3×50 MW Wind power plants (including 2 x 50 MW Three Gorges Second and Third Wind Farm that have achieved COD during the year 2018 with support from AEDB are already in operation, alongside 1,124MW Kohala, 720MW Karot and 6-40MW Mahl Hydropower projects along Jhelum River which bear testimonial to company‚Äôs commitment of providing clean energy on a sustainable basis.