The government has planned a 500-megawatt floating solar power project at Keenjhar Lake in Sindh with an estimated cost of $243.63 million to produce clean, renewable electricity while reducing dependence on imported fossil fuels, it was reported on Friday.
According to details, the project is expected to generate around 861.91 gigawatt-hours of electricity each year. The plant is projected to operate with a capacity factor of 19.6 percent.
Electricity produced by the facility will be supplied to K-Electric under a long-term power purchase agreement.
Authorities have already obtained a letter of intent (LoI) from K-Electric, while the process to select engineering, procurement, and construction contractors is underway.
The floating solar initiative is to be executed through the engineering, procurement and construction model, with contractors to be chosen through competitive bidding.
Official documents show the project offers an internal rate of return of 13.94%, while the estimated tariff has been set at 3.98 US cents per kilowatt-hour.
The project has been planned in line with Pakistan’s 2030 emissions reduction targets. The facility is planned near major industrial zones, a factor that is expected to help in the efficient transmission of electricity to areas with high demand.
The use of a water surface for solar generation would avoid conflicts over land use that can arise with conventional solar plants.
