Page 14 - AsiaElec Week 39

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commercial operation on April 30, 2020, the RENEWABLES a comprehensive skills training program
power plant’s generation capacity is a total of to build technical capacity in identifying
1.18mn kW (two units of 0.59mn kW). The Pakistan makes shift to investment opportunities, preparing projects,
power plant uses regasified LNG (Liquefied and mobilizing commercial financing,” said
Natural Gas) for fuel, as the lowest emission clean power production Mohammad Saqib, Task Team Leader for
of Green House Gas (GHG) and air pollutants the Khyber Pakhtunkhwa Hydropower and
among fossil fuels*1 and adopts GTCC with World Bank support Renewable Energy Development project.
(Gas Turbine Combined-Cycle) with highly “In addition, by installing solar photovoltaic
generation efficiency of 61%*2 by utilizing the The World Bank’s Board of Executive systems onto hydropower assets, production
latest technologies to the proven model. Directors hhas approved $450mn in financing capacity is expected to rise and generate
JAPEX to support Pakistan’s transition to renewable greater return on investments.”
energy resources that reduce its reliance WORLD BANK
on fossil fuel imports and lower costs of
NUCLEAR electricity production.
The Khyber Pakhtunkhwa Hydropower SOL AR
TEPCO completes seawall at and Renewable Energy Development India’s Avaada to receive
Project will help shift the national energy
Fukushima plant mix to domestic clean resources by
investing in renewable energy generation,
TEPCO has completed an 11-meter-high including hydropower and solar, in Khyber $15mn from ADB to expand
seawall to protect the Fukushima Daiichi Pakhtunkhwa province. It will also help solar portfolio
nuclear power plant from tsunami waves. strengthen energy sector institutions to better
TEPCO erected the barrier based on a manage a growing portfolio of renewable The Asian Development Bank (ADB)
government panel warning three years ago. It energy projects across the province. announced that it has signed an agreement to
said that a mega-quake along the Chishima “This project supports Pakistan’s goal to invest $15mn in India’s Avaada Energy Private
Trench, beneath the sea near northern Japan, become a low-carbon, renewable energy- Limited (AEPL) to help expand the company’s
could cause a tsunami to hit the compound. reliant economy by 2030 and contributes to solar generation capacity in the country.
TEPCO announced that a 1.7-metre-high its national target in reducing greenhouse According to its press release, this
concrete wall was built atop elevated ground gas emissions to combat climate change,” investment will come from ADB’s Ordinary
stretching 600 meters on the sea side of the said Najy Benhassine, World Bank Country Capital Resources and from Leading Asia’s
No.1 to No.4 reactors. Director for Pakistan. Private Infrastructure Fund (LEAP), with
The firm says the barrier stands 11 metre “It will facilitate the expansion of renewable both funds investing $7.5mn each.
above sea level and it was completed on energy in Khyber Pakhtunkhwa by identifying In its press note, the bank added that this
Friday. and preparing solar and hydropower projects was its second investment in Avaada Energy
TEPCO next plans to build another seawall that are technically sound, environmentally after the first round of $50mn invested in
measuring up to 16 meters high, based on a and socially sustainable, and investment April 2019.
new projection made by a government panel ready.” The solar developer earlier said that it
in April. The project will provide low-cost and had secured financing of over $143mn in
The projection says if a mega-quake were low-carbon electricity to consumers and will the form of equity infusion from ADB,
to occur along the Japan Trench off the support the economic development of those German development bank – DEG, Dutch
northeastern coast, a tsunami could be higher communities near the hydropower and solar development finance company- FMO, and
than the newly-built seawalls. projects by revitalizing infrastructure, creating promoters’ equity.
TEPCO says it aims to complete the taller jobs, and supporting the development of According to Avaada, the company has
seawall by fiscal 2023. tourism activities. around 1 GW of operational solar projects in
“To scale up renewable energy in the country. It added that the new investment
Khyber Pakhtunkhwa, the project includes would be utilized to expand its capacity to

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