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Pakistan announces financial close for the US$2bn Thar coal-fired power plant

Pakistan’s Private Power and Infrastructure Board (PPIB) has announced the financial close for the US$2bn Thar coal-fired power plant, located in the Thar desert of the Sindh Province (south-eastern Pakistan). The 1,320 MW power plant, operated by Sindh Engro Coal Mining Company, has been implemented under the China-Pakistan Economic Corridor (CPEC) initiative.

Shanghai Electric Group Corporation is the main sponsor of the project, while Sino-Sindh Resources (SSRL) is the coal supplier from Thar Block-1. ICBC, China Development Bank, Bank of Communications, China Minsheng Bank Corporation, Postal Savings Bank of China and Agriculture Bank of China are the main lenders of the project. 

The power plant started commercial operations in February 2023. It is expected to generate about 9 TWh/year of electricity for the Pakistani national grid and supply power to nearly 4 million Pakistani households. 

At the end of 2022, coal represented 14.5% of Pakistan’s installed capacity with 6.3 GW and 16% of its power generation with more than 22 TWh. In 2020, the government of Pakistan announced that it would not build new coal-fired power plants. However, 2 GW of coal capacity is still under construction and nearly 8 GW are under development in the country.

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