ISLAMABAD: In order to address energy crisis in the South Asian country, Pakistan has inked a two hundred million Memorandum of Understanding (MoU) with a Chinese company to convert a thermal plant to solar power, official media reported on Saturday.
This project will improve the current thermal power plant to a 300 Mega Watts solar power plant through the Special Investment Facilitation Council (SIFC), Radio Pakistan reported.
The new project will generate around 400 million units of electricity per year at a significantly lower cost, decreasing the cost from Rs.45 to fourteen rupees per unit.
It added that the project will reduce the need for Heavy Fuel Oil. It is estimated to save 44 million dollars annually due to cut in import bills, offering attractive returns to all stakeholders.
