K-Electric (KE), Pakistan’s only private utility, announced the receipt of seven bids for the country's first 220 MW hybrid wind/solar project, located in Dhabeji, Sindh. The opening of financial bids took place at a private event in Karachi, where JCM Power, a Canadian renewable energy company, offered the lowest tariff of Rs8.9189 per unit, setting a significant benchmark in Pakistan’s renewable energy sector.
KE is leading the way in competitive renewable energy bidding, having gained approval from Nepra in the first half of 2024. This hybrid wind-solar project marks a key step in KE's broader strategy to transition towards sustainable energy, aiming to raise its renewable energy share to 30% by 2030. Following the bidding process, KE will submit a bid evaluation report to Nepra for approval.
Commenting on this achievement, Moonis Alvi, CEO of KE, said, “We are very happy to see such a bid, driven by a transparent bidding process. We are grateful to the investors for their continued confidence in KE as a brand and in Pakistan’s economic potential.”
“We deeply appreciate Nepra for supporting us in the competitive bidding process for such a complex and innovative project. It aligns seamlessly with KE’s vision to integrate renewables, reduce generation costs and gradually decrease dependence on expensive imported fuel sources. With this kind of tariff, we anticipate that the government will have the capacity to pass on relief to customers as well.”
Chief Strategy Officer of KE Shahab Qader added, “This is a momentous occasion as KE breaks barriers yet again. This project is the first in Pakistan to integrate solar and wind energy for improved operational and financial efficiency.
In addition to Dhabeji, KE’s renewable energy projects in Winder and Bela, Balochistan, bring the total capacity to 370 MW. These projects have collectively attracted offers totaling 2,960 MW, reflecting the strong interest and support for KE’s long-term strategy to achieve lower generation costs and reduce dependency on expensive energy sources, contributing to the nation’s overall economic growth.
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