300-MW KE project to stay: SIFC decides to scrap LoIs of Cat-III wind projects

ISLAMABAD: The Apex Committee (AC) of Special Investment Facilitation Council (SIFC) has decided to scrap all Letters of Interest (LoIs) of category –III wind projects as per policy except 300-MW for K-Electric (KE), well-informed sources told Business Recorder.

With regard to solar projects, AC has decided that National Transmission and Despatch Company (NTDC) would confirm evacuation capacity for Cat-III solar projects after finalisation of Integrated Generation Capacity Expansion Plan (IGCEP) and Transmission System Expansion Plan (TSEP) which are in process and will be finalised by end April 2024.

Recently, Private Power and Infrastructure Board (PPIB) asked K-Electric (KE) to submit an interim investment plan for National Electric Power Regulatory Authority (Nepra) approval, and sought confirmation from KE regarding the evacuation/ procurement of power from Category-III wind projects through competitive bidding by PPIB, the Request for Proposal (RfP) documents for these projects being prepared by PPIB.

KE seeks PD’s support for early approval of Indicative Generation Plan

KE, as the off-taker for Category-III projects in Sindh, is required to share/ provide the draft Energy Purchase Agreement (EPA) for inclusion in the RfP documents before finalising them and submitting them to Nepra for approval.

The Committee was further informed that power anti-theft campaign has led to recovery of Rs 85.7 billion. Anti-theft cells have been established in all Discos. AC directed Provincial Chief Secretaries/ IGPs and federal departments to ensure continued support Power Division/ Discos in the ongoing drive.

The sources said that on privatisation of two RLNG power plants, Ministerial Committee has recommended to hold the privatisation process for the time being. AC endorsed that two RLNG plant should not be privatised for the time being.

The meeting was informed that LESCO has issued demand notice amounting to Rs 1.2 billion to JW SEZ on November 24, 2023; however, payment is awaited.

AC directed the Board of Investment to jointly prioritise the plan for provision of power supply to SEZs and present it to Planning Commission for finalizing through PSDP. The requirement of JW SEZ would be met on priority basis.

Secretary of AC-SIFC provided an update on activities of SIFC Secretariat since 8th AC (during January 2024). These include: (i) handling of foreign delegations/ meetings with the dignitaries from Japan, China, Sweden, USA, Kuwait and Netherlands; (ii) holding of two consecutive day sessions of 8th Executive Committee (EC) on 24th-25th January, 2024; (iii) facilitation of over 23 notable investors meetings besides others; and (iv) investment outreach and promotion through facilitation of four major events/ conferences, besides participation in the annual meeting of the World Economic Forum 2024.

The Chief of Army Staff acknowledged that owing to SIFC, Pakistan is now better equipped to tackle the multifaceted challenges being confronted by the country. Focused and dedicated efforts have paid off and certain segments have performed beyond expectations.

He also stated that SIFC will continue to be the beacon for continuation of policies. He appreciated the entire team of SIFC, particularly the National Coordinator and Secretary to AC-SIFC for their unwavering commitment to the national cause of sustained economic revival.

Copyright Business Recorder, 2024