In January 2015, a feed-in tariff (FIT) was approved by the National Electric Power Regulatory Authority with rates set according to province. The FIT is very attractive and will be paid in USD. Other details of the programme like a minimum guaranteed IRR in USD emerged and lead to a significant interest with first MoUs signed.
While investment opportunities in renewable energy (and even grid infrastructure) are huge, Pakistan did not market the programme as successfully as countries like Egypt.
Following the much appreciated trade mission in Egypt, MESIA will bring the key players (Investors, Local/development and international commercial banks, Developers, EPCs, Panel manufacturers and others) to meet all key government and related stake -holders locally. After assessing the overall investment and regulatory framework as well as potential sources for financing there will be ample time to evaluate partnerships with the right local companies.
We want Pakistan to be the next GW level Solar player!
About Bracewell & Giuliani LLP
Bracewell & Giuliani LLP is an international law firm with nearly 500 lawyers across the United States, Dubai and London. The firm has earned a reputation for delivering practical and cost-effective services in the energy sector globally. We serve the world’s leading energy companies as well as major financial institutions, leading private investment funds and governmental entities.
Bracewell has a substantial track record assisting clients with renewable energy projects, including solar, wind, biomass, ethanol, geothermal, and hydroelectric. Our renewable energy team advises both sponsors and lenders in almost every aspect of the renewable energy market.
The Bracewell team has extensive experience in Egypt having advised a sponsor on the landmark development and financing of the Sidi Krir IPP, Egypt’s first IPP. Beyond Egypt, Bracewell lawyers based in Dubai and London have acted on over twenty I(W)PPs in the region. We have acted for both sponsors and lenders (including export credit and multilateral agencies).
We have a significant depth of experience globally in the development and financing of solar power projects from utility scale to distributed solar projects. In the middle east, the Bracewell team is advising a number of developers on their bids to develop solar projects in Jordan’s Direct Proposal Submission Process – viewed as the primary model for Egypt. We also represented both sponsors and lenders in Dubai’s recent 100 MW Phase II solar project and we advised a consortium for a combined solar thermal and PV solar facility in Morocco.
About Access Energy Ventures Ltd
(AEV) is a sister company of Access Power MEA and a subsidiary of Access Energy Group and Al Gihaz Holding. The company was founded in 2013 to expand the renewable energy power development activities of Access Energy Group to cover emerging markets in Asia. Access Energy Ventures has another business line, which is supplying and distributing energy efficiency & sustainability light industrial products in the MENA region.
Access Energy Ventures is focusing on developing a renewable energy portfolio in in Central Asia specifically in the Islamic Republic of Pakistan. The initial target portfolio shall be composed of 200 MW of solar PV assets in Sindh and Punjab provinces in Pakistan. Building such a Portfolio is now possible due to the supporting regulations and tariffs that have set the market in motion as of March 2015. Currently Access Energy Ventures is in the process of submitting its proposals for LOI approvals by the Alternative Energy Development Board (AEDB) in Pakistan. Securing land is in final negotiations stage with the assistance of our local legal firm in Pakistan and initial grid assessments have shown sufficient capacities to accommodate the solar energy generation from the plants. An aggressive development schedule has been discussed with the objective of reaching financial close before the end of Q4 2016.
Access Energy Ventures future plans are to expand its renewable energy power development activities into South Asia & South East Asia in countries like Bangladesh, Vietnam, Philippines & Indonesia where electricity shortages are constantly hampering their economic development.
Being part of an Engineering Group more than 35 years old with a proven track record in both Pakistan and UAE, Adaptive is a front ranking Turnkey Solar solutions provider with the ability to deliver mega projects based on its affiliations with strong International partners in the field of EPC contracting, Solar PV panels and Inverter supplies. Having started off in the field of Solar thermal in Karachi more than a decade ago the company gradually expanded its operations and now serves most major cities across Pakistan in the field of both thermal and Photovoltaic and serves multi-discipilary clients for applications including Off-grid, Hybrid and On-grid. With cumulative installations in the Mega Watt scale, Adaptive is well positioned to engage itself in upcoming solar activities in Pakistan.
Adaptive enjoys a strategic relationship with Futura Sun, Italy. Futura Sun is approved with IFC for its rural and semi-urban off-grid solar home systems, which are presently being sold in many developed and under-developed nations. Futura Sun is also a leading Solar EPC capable of executing projects in the Megawatt scale.