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- Engro Energy Limited
Engro Energy Limited
Pakistan
| Borrower | Engro Energy (EE) |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Debt |
| Focus Area | Energy |
| Approved | 13.03.2007 |
| Signed | 19.12.2007 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| Co-financiers | Sponsors, IFC, DEG, PROPARCO, FMO, Swed Fund |
| OPEC Fund Contribution (US$m) | 13.00 |
Accelerating economic growth and an increased rate of electrification have led to a commensurate rise in electricity demand in Pakistan in recent years. Unless new capacity is added to the system, electricity shortages are imminent, and it is estimated that over US$5b in new investments will be required over the next five years to avoid blackouts and outages. This loan will help address the problem by co-financing the construction, operation and maintenance of a 217 MW gas-fired green-field power plant. To be located in Punjab province, the new facility will help to lower the economic cost of power generation in the
country, by utilizing natural gas that would otherwise continue to be wasted through flaring. The project will also create employment opportunities and assist in the transfer of the latest technologies.