- State cabinet of Punjab in Pakistan has approved privatization of Quaid-e-Azam Solar Power Private Limited Company
- The company is managing the 100 MW solar power capacity operational at the Quaid-e-Azam Solar Park
- The PV plant has so far generated profit of 2 billion PKR ($19 million)
- Chief Minister of Punjab says the state will also get profit earned from this project besides expenditures with privatization
The Punjab state cabinet in Pakistan has approved privatization of the Quaid-e-Azam Solar Power Private Limited Company (QA Solar).
With a total capacity of 100 MW, the Quaid-e-Azam solar power plant at Bahawalpur was inaugurated in May 2015. It has so far generated profit of 2 billion PKR ($19 million), as per a report by Associated Press of Pakistan Corporation (APPC).
Plans are to eventually increase the operational capacity of this park to 1,000 MW.
Investors have apparently expressed interest in the project, as per the state administration. “With the privatisation of this project, we will also get profit earned from this project besides expenditures,” said Punjab Chief Minister Muhammad Shehbaz Sharif.
To ensure transparency in the matter, the Chief Minister has said that the entire auction process will be telecast live. The state government plans to constitute a Cabinet Steering Committee for Privatization which will be in charge of monitoring all aspects of the auction.
A private company Catalyst Energy (Private) Limited had in February 2017 proposed to develop a 100 MW solar power plant at the Quiad-e-Azam Solar Park (see 100 MW PV Project In Pakistan). The National Electric Power Regulatory Authority (NEPRA) had admitted the application back then.