FFCEL Wind Power Project Summary

FFCEL Wind Power Project Summary

Capacity 49.5 MW on Build, Own, Operate (BOO) basis
Location Jhampir, District Thatta
Land Area 1,283 Acres/5.3 Sq. Km through Sub-Lease Deed with AEDB
Wind Turbines Nordex $77, 1.5 MW HCV x 33 WTGs
Electrical System Alstom, Pakistan, 22kV substal on & collection system, 132kV switchyard
Civil Works Descon; Pakistan, 25 Towers as karachi + 100% Crane Availability
Project Cost US$ 133.502 Million (Rs. 12.087 Billion)
O&M Cost US$ 3 million/annum (Rs. 255 million)
Funding Plan Debt 80% - US$ 106 million (Rs. 9 Billion) - by local banks only, Equity 20% - US$ 28 million (Rs. 2.4 billion), Debt terms - 10 years, Equity payback - 6 years
Levelized Tariff US cents 15.332 / kWh (Rs. 14.965 / kWh)
Energy Production 143.6 GWh per annum (143.6 million units)
Project Life 20 years
Annual Net Profit US$ 4.6 million or PKR 391 million
Guaranteed ROE 17% + Bonus Payment @ 10% of additional energy price
EPC Contrators Joint consortium of Nordex & Descon with Joint & several liabilities. Nordex also acts as lead contractor
O&M Contractors For 02 x years of warranty period & additional 03 x years. Joint consortium of Nordex & Descon with Joint & several liabilities
Applicable Policy Policy for Development of Renewable Energy for Power Generation - 2006
Electricity Purchaser NTDC through Energy Purchase Agreement (EPA)
GoP Guarantee Issued by AEDB on behalf of GoP under Implementation agreement
EPC Contract Signed on February 27, 2010
Tariff FFCEL submitted petition on April 07, 2010. NEPRA announced tariff on August 10, 2010 & finally clarified on November 03, 2010
Financial Close June 28, 2011 (after signing Land Sub-Lease, IA, EPA & Financing agreements)
Site Handed Over for Construction Activities July 07, 2011
Construction Start July 08, 2011 (on opening LC for EPC contractors)
First Foundation Excavation Commenced October 22, 2011
First Foundation Construction Completed December 25, 2011
First Wind Turbine Erection Completed January 25, 2012
Last Wind Turbine Erection Completed July 21, 2012
Construction Activities and Commissioning of all individual Wind Turbines and Electrical Equipment Completed November 22, 2012
Inauguration of FFCEL Wind Power Project by the then President of Pakistan December 24, 2012
Commercial Operation Date of FFCEL Wind Power Project May 16, 2013 (After the completion of Reliability Run Test)