Wind farm in Pakistan [Photo provided by Daelim Energy Co.]
Daelim Energy Co., South Korea’s energy and infrastructure development company affiliated with Daelim Industrial Co., said on Friday it has embarked on the commercial operation of a wind power facility in southwestern Pakistan, more than a year after it broke ground for the $130 million wind farm in November 2016.
The company said on Friday it has kicked off the operation of the Hawa Wind Project, a 50-megawatt power facility with 29 wind power generators. The facility in Sindh Province in Pakistan is expected to produce 204 gigawatt hours of energy every year, which is enough to serve 56,000 households.
Under a power purchase agreement signed with Pakistan’s Central Power Purchasing Agency, Daelim Energy will sell electricity to be produced from the facility for the next 20 years.
Daelim Energy responsible for project development and operations signed an agreement with Overseas Private Investment Corporation, a development finance institution of the U.S. government, in August 2016, to secure $100 million fund for the Hawa Energy power project.
EMA Power Investment - co-founded by Daelim Energy and Islamic Development Bank Infrastructure Fund II - owns 35 percent of the project’s equity while the remaining by Hawa Investments Ltd. and JS Group.
Daelim Energy has been actively seeking to expand its footing in the global power market since it acquired a stake in Australia’s coal-fired power station in Millmerran, Australia, in 2013. Currently, the company operates two other wind power facilities in Pakistan as part of Metro and Gul Ahmed Wind Projects.
By Kang Doo-soon and Lee Eun-joo
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