According to the bank website, "The project comprises of the development, construction, and operation & maintenance of a 50 MW greenfield wind power project in Pakistan, in the Jhimpir wind corridor in the Sindh province (the Project). The project will be connected to the national grid and will enter into a 25-year Energy Purchase Agreement with the Central Power Purchasing Agency Guarantee Limited (CPPA-G). The project will involve installation of 20 Goldwind 2.5 MW turbines. Each turbine will have a hub height of 90 m and a blade diameter of 121 m. The project site falls within the Gharo-Jhimpir wind corridor, which is located in the southwest of Sindh province and comprises two clusters of wind resource areas: Gharo, which is located near to the coast and the inland Jhimpir Wind Farm Region (JWR) located in the district of Thatta with, an approximate area of 157 km2."
According to IFC, "The Project is being implemented by Gul Ahmed Electric Limited (GEL), a special purpose vehicle (SPV) incorporated under the laws of Pakistan. GEL is wholly owned by Gul Ahmed Energy Limited (GAEL), which is majority owned by individuals of the Gul Ahmed Group. GAEL operates a 136 MW RFO-based IPP under a Power Purchase Agreement with K-Electric (KEL), a power utility that serves the city of Karachi and surrounding regions.
Established in 1948, the Gul Ahmed Group is one of Pakistan’s leading family-owned groups, engaged in a diversified portfolio of business including trade, manufacturing, banking, and energy."
Gul Ahmed Electric Limited
Ubaid Amanullah, Executive Director
+92 21 3437 0034-8
7th Floor, Al-Tijarah Centre, 32-1-A, Block 6, P.E.C.H.S., Main Shahra-e-Faisal Road, Karachi, Pakistan
ACCOUNTABILITY MECHANISM OF IFC
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