Through its Alternative Energy Development Board (AEDB), the Government of Pakistan has concluded implementation agreements and guarantees direct agreements with eleven independent power producers (IPPs) for 560 MW of new wind power capacity.
Six wind projects with a combined capacity of 310 MW, requiring a US$450m investment, will be funded by the International Finance Corporation (IFC). The private sector lending arm of the World Bank Group will provide a US$86m credit line and mobilise US$234m from other lenders. The six wind projects are being developed by domestic companies: ACT Group, Artistic Milliners (Private) Limited, Din Group, Gul Ahmed Group and Younus Brothers Group.
As of November 2019, Pakistan’s wind power capacity stands at 1,7 GW, accounting for almost 4% of its total electricity capacity. The government is aiming to increase the non-hydro renewable energy share in the overall generation mix from 4% to 20% by 2025