ISLAMABAD: Pakistan has signed a $200 million agreement with a Chinese firm for the conversion of a thermal power plant on solar energy, Pakistani state media reported on Saturday.
The agreement, which was realized through Pakistan’s Special Investment Facilitation Council (SIFC), would help upgrade an existing thermal power plant to a 300-megawatt solar power plant, the state-run Radio Pakistan broadcaster reported.
“The project will generate 400 million units of electricity per year at a significantly lower cost, reducing the cost from forty-five rupees to fourteen rupees per unit,” the report read.
“The project will eliminate the need for Heavy Fuel Oil (HFO).”
The conversion of the project on solar energy is estimated to save $44 million annually due to a reduction in import bills and offer attractive returns to stakeholders.
Cash-strapped Pakistan lacks adequate resources to run its oil- and gas-powered plants and imports most of its energy needs. The South Asian country is struggling with a balance of payments crisis, record inflation and steep currency devaluation.
In order to deal with the problems, Islamabad is currently looking to secure cheaper energy imports and find alternate ways to lessen the cost of power generation.
Pakistan, Chinese firm sign $200 mln deal to convert thermal power plant on solar energy
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Pakistan, Chinese firm sign $200 mln deal to convert thermal power plant on solar energy
- Pakistan has been struggling with a balance of payments crisis, record inflation and steep currency devaluation
- To cut its energy import bill, Islamabad is looking for cheaper imports and alternate ways for power generation
Gunmen kill 3 Revolutionary Guards in Iranian province bordering Pakistan
- Iranian state media says attackers ambushed patrol in Sistan and Baluchistan province before fleeing
- Border region with Pakistan and Afghanistan has long seen militant and smuggling-related violence
TEHRAN: Gunmen killed three members of the Revolutionary Guard in Iran’s southeastern province of Sistan and Baluchistan near the Pakistan border, state media reported.
The Guard members were ambushed while patrolling near the city of Lar in a mountainous area about 1,125 kilometers (700 miles) southeast of the capital Tehran, the official IRNA news agency reported.
IRNA did not report whether any Guard members were injured in the attack.
The Revolutionary Guard is pursing the attackers it calls “terrorists,” but they remain at large. No group has taken responsibility for the attack, IRNA reported.
The province bordering Afghanistan and Pakistan, one of the least developed in Iran, has been the site of occasional deadly clashes involving militant groups, armed drug smugglers and Iranian security forces.
In August, Iran’s security forces killed 13 militants in three separate operations in the province a week after the group killed five policemen who were on patrol.
