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Pakistan’s First Letter of Support (LOS) for Solar Power Project received by Buksh Energy Pvt. Ltd

Pakistan’s First Letter of Support (LOS) for Solar Power Project received by Buksh Energy Pvt. Ltd

Buksh EnergyAlternative Energy Development Board (AEDB) has granted the country’s first LOS to Buksh Solar Pvt. Ltd. (BSPL) for its 10 MW Solar powered generation facility catering to Bahawalpur and Cholistan districts. Buksh Solar is a special purpose vehicle of Buksh Energy Pvt. Ltd. solely setup to facilitate the 10 MW Solar IPP that would sell electricity to Multan Electric Power Company (MEPCO). The proposed project will have an installed capacity of 10 Megawatts (MW), of which the energy produced will be distributed to MEPCO. The proposed power plant would use solar power as a fuel to generate electricity and will use state of the art technology producing 16,731MW electricity per annum.

In addition, BSPL has recently been awarded an unconditional acceptance of Upfront Tariff and Generation License approval from NEPRA (National Power Regulatory Authority). The 10 MW Solar IPP would be the first Solar project in Pakistan demonstrated on a mega scale with a power purchase agreement with the DISCO’s. This project promises to demonstrate the immense solar potential the country has 2.32 Million MW and the utilization of the same for large scale energy production. In addition to the 10 MW Solar IPP Buksh Energy since its inception in 2009 has emerged as a leading Energy Management company in Pakistan working extensively on Solar Integration across diverse market segments.

Asim Buksh-CEO Buksh Energy Pvt. Ltd said: “Average dependable electricity capacity in summers reaches upto 15,000 MW. Pakistan is losing up to 3% of its GDPbecause of frequent power shortages hence IPP ; s have to collaborate with the government in order to bring the energy crisis under control. Pakistan is facing one of the worst electricity shortages of all times as the demand for electricity is increasing and the supply is decreasing. We are pleased to be the pioneers in achieving the first Solar IPP of the Country. We hope that our 10MW will help meet the energy crisis in Pakistan. We aim to cater to 5% of Pakistan energy needs with renewable energy resources. In this prospect our first endeavor being solar energy, wind energy and biomass/biogas.

He added “We are grateful to NEPRA, AEDB, MEPCO, Punjab Power Development Authority and the Energy Department whose continuous support and dedication towards the renewable energy sector has lead to the successful completion of this project.”

The 10 MW Solar IPP would serve as a demonstrative pioneering Solar IPP in Pakistan- which would present a successful case of resolving the huge energy crisis of the country with a profitable, sustainable and environmentally friendly solution for all stakeholders involved” he further added

Buksh Energy would be further bringing in international investment and technical expertise with foreign EPC companies to further the installation of the 10 MW Solar Generation project. “We are looking ahead to building an entire eco-system of solar power projects across the country, from electrification of villages, to Solar ATM’s to the large scale 10 MW Solar Power project- the future of Pakistan lies in Solar and also the solution for all our energy problems. BEPL will continue bringing new technologies and scaling up the Solar landscape in Pakistan in years to come|” said Ms. Fiza Farhan, Director Buksh Energy Pvt. Ltd. BEPL together with it’s power producing subsidiaries aims to cater to 5% of Pakistan’s entire energy needs by 2020 through renewable and sustainable sources of energy generation.

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