Earlier this month, K-Electric (KE), Pakistan’s sole private utility company, announced it received seven bids for the country’s first 220 MW hybrid wind/solar project in Dhabeji, Sindh. Following this, the company celebrated another milestone by opening financial bids at a private event in Karachi. JCM Power, a Canadian renewable energy firm, emerged as the lowest bidder with a proposed tariff of PKR 8.9189 per unit, setting a new benchmark in Pakistan’s renewable sector.
KE is pioneering a competitive bidding process for renewable energy, having secured approval from NEPRA in early 2024. With these projects, KE aims to boost its renewable energy share to 30% by 2030. The next step involves submitting the bid evaluation report to NEPRA for approval.
Moonis Alvi, CEO of KE, expressed satisfaction with the transparent bidding process, congratulating the successful bidder and thanking investors for their confidence in KE and Pakistan’s economic potential. He emphasized NEPRA’s support for the competitive bidding, aligning with KE’s vision to increase renewable energy, lower generation costs, and reduce reliance on expensive imported fuels.
Shahab Qader, Chief Strategy Officer at KE, highlighted the project’s significance as Pakistan’s first to integrate solar and wind energy for enhanced operational and financial efficiency. He noted that KE’s projects in Winder, Bela, and the latest in Dhabeji, totaling 370 MW, received an impressive 2960 MW in offers, affirming the utility’s long-term strategy for cost-effective energy generation.
This strategic approach could help break the cycle of dependence on costly energy sources, reduce overall production costs, and contribute to the country’s economic progress.
