- US $75m
About the Project
Access Power has been granted an LOI for two 50MW solar PV plants by the Pakistan Renewable Energy Authority. The projects are located in Nowshera and Kohat, KPK. The projects are being developed in partnership with the local conglomerate M/S Siddiqsons.
In Kohat, Access is currently undertaking the various feasibility studies. These studies will be completed in March 2017 and submitted to the relevant authorities, at which point the project will be at the same stage of development as the Nowshera solar PV project.
Historically, Pakistan has always been an energy importer and is highly dependent on fossil fuels. With the rising fossil fuel prices, the cost of oil importing is creating a dent on Pakistan's foreign exchange reserves. The rising oil price along, with the rising demand for uninterrupted power, is creating additional pressure on the already fragile electricity grid of Pakistan.
Only 67% of the country's population has access to electricity with over 150 million Pakistanis either having no access to the power grid or suffering over 12 hours of load-shedding daily. 500,000 households are impacted with unemployment as businesses have been forced to shut down due to energy shortages.
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