Chinese firms, BOI to establish Pak’s 1st solar captive power plant in Faisalabad

Islamabad: Board of Investment (BOI) Chairman Atif R Bokhari has announced that the board, in collaboration with Chinese firms, will establish Pakistan’s first-ever solar captive power plants for two special economic zones in Faisalabad — a news source reported today (July 17).

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Bokhari said that providing uninterrupted and affordable power supply to industries was a top priority of the government. In this regard, the BOI facilitated signing a tripartite memorandum of understanding between the Faisalabad Industrial Estate Development and Management Company (FIEDMC), the Power China Jiangxi Electric Power Construction Co Ltd (JEPCC) and the Henan Zhonghui Electric Power Engineering and Consulting Co Ltd (HZEPEC).

The plants will be built at FIEDMC’s two special economic zones, located at the M3 Industrial City and the Allama Iqbal Industrial City. The project is estimated to cost USD 630 million and is to be financed by the Chinese firms, with the FIEDMC providing land on lease.

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Additionally, the project is expected to be developed on a build-own-lease-transfer (BOLT) basis — making it the first BOLT project in the country.