CDC Group, the development finance corporation of the UK (United Kingdom) government, has formed a joint venture (JV) with Gul Ahmed Metro Group (GAM) to develop and operate up to 500 MW of renewable projects in Pakistan. The Metro-BII Renewables joint venture has a current generation capacity of 110 MW. Under the terms of the joint venture, CDC will acquire a significant minority stake in Metro Wind Power Limited (MWPL), a 60 MW wind project developed by GAM and currently under construction; the acquisition remains subject to lender and regulatory approval. CDC and GAM are also co-investors in Zephyr Power Limited, an operating 50 MW wind project.
The electricity capacity in Pakistan stood at more than 39 GW at the end of 2020, with gas accounting for 36%, hydro for 25%, oil for 18%, coal and lignite for 11%, wind and solar for 5%, and nuclear 4%.
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