A consortium led by JCM Power, a Canadian renewable energy company focused on projects in Asia and Africa, has emerged as the lowest bidder for a 240-MW hybrid wind-solar project in Pakistan. The announcement was made by JCM on Wednesday.
The bidding process was conducted by K-Electric, the only private utility company in Pakistan, which aims to increase the share of renewable energy in its energy mix to 30% by 2030.
K-Electric reported receiving seven bids for the hybrid project located in Dhabeji, Sindh, and highlighted its commitment to pioneering competitive bidding in the renewable energy sector.
JCM secured the project with a proposed tariff of PKR 8.9189 per kWh (USD 0.032/EUR 0.029), which is recognized as a record low for Pakistan's renewable energy sector.
The winning consortium also includes Dubai-based Burj Capital and Gharo Solar's majority sponsor.
K-Electric's chief strategy officer, Shahab Qader, noted, “This project is the first in Pakistan to integrate solar and wind energy for improved operational and financial efficiency.”
