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Pakistan, Norway ink MoU for 150MW solar power plants

Latest Update: July 7, 2015 | 247 Views
MOU

ISLAMABAD: Pakistan and Norway signed a Memorandum of Understanding (MoU) for construction of three solar power plants to generate a total of 150MW of electricity, said a statement issued on Tuesday.

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Prime Minister Nawaz Sharif and Norway’s Prime Minister Erna Solberg witnessed the signing ceremony of a MoU between Scatec Solar of Norway and Nizam Energy of Pakistan to jointly develop the solar power plants on a build-own-operate basis.

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The construction of three solar power plants to generate a total of 150 MW of electricity is expected to start in the first quarter of 2016.

The project would be completed in a year’s time and will be located in Sindh province, with an initial investment of $300 million.

An additional 150 MW is planned to be developed in the second stage, bringing the total investment to nearly $600 million.

Adviser on Foreign Affairs and National Security Sartaj Aziz and other members of the Pakistani delegation were also present on the occasion.