Summary | FFC Energy Limited (FFCEL)

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)