Foundation Wind Energy I Limited (FWEL I)

Pakistan

Pakistan has experienced an unprecedented growth of electricity demand in the last decade. However, energy supply has not increased in tandem with demand, which has led to gaping demand/supply disparities. The major area of demand growth is in domestic client consumption, which is rising at an average rate of 4.5 percent annually. The government of Pakistan has consequently put emphasis on tapping the country’s vast renewable energy sources to help reduce energy deficiency. To support this aim, OFID, together with the Islamic Development Bank, the Asian Development Bank and a group of local banks, are co-financing a US$261.5m project involving the construction and running of two wind power farms (50MW each) in the Sindh Province of Pakistan, which has been identified as the country’s wind corridor. Once completed, the two projects will be Pakistan’s first privately-financed wind power plants. Adding 100MW of power generation capacity to the national grid, this project will be economically beneficial to Pakistan’s wind power generation industry and help alleviate the growing energy deficit through the use of natural resources.