ISLAMABAD, Oct 31 (APP): The Asian Development Bank (ADB) has approved a US $ 75 million loan with Triconboston Consulting Corporation (TBCC) to support the development of the largest wind farm in Pakistan. “The deal is ADB’s third wind energy investment in Pakistan’s burgeoning independent power producer segment. Power from the project will be sold under a 20 year take-or-pay energy purchase agreement under a feed-in-tariff to Pakistan’s Central Power Purchasing Agency” said a statement issued by the ADB here Monday. “This wind farm is a major contributor to Pakistan’s drive to scale up renewable energy use and to reduce its reliance on coal and petroleum for power generation,” said Mohammed Azim Hashimi, Investment Specialist in ADB’s Private Sector Operations Department.”
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ADB approves US $ 75 mln loan to Pakistan for third wind energy investment
