ISLAMABAD: The Alternative Energy Development Board (AEDB) has announced the financial close of 49.5MW wind power project which is expected to be commissioned in Gharo corridor by June next year by a Chinese company.

The ‘China Three Gorges Group’ has developed a comprehensive investment plan in renewable energy sector in Pakistan which includes 2000MW wind power and 300MW solar power projects. The 49.5MW project is a first step towards realizing the investment plan.

Speaking on the occasion, Federal Minister for Water and Power, Khawaja Muhammad Asif said it was a showcase Chinese wind power project in the wind sector and would open up gates for huge Chinese investment in this sector.

He expected more such projects from China and said that the financial closing of the project would encourage more wind power IPPs to quickly develop their projects and would pave ways towards harnessing colossal wind power potential in Pakistan for generation of electricity.

The minister assured the Chinese company of government’s full support for its investment plan in the future.

Speaking on the occasion, Chairman of Three Gorges Company, Wang Shao Feng said that the project would follow two more wind power projects of 50MW each in the second phase.

“The company has developed the third phase under which 350MW wind and 200MW solar power projects would be installed in the potential areas of Pakistan,” he said.