Karachi, November 27, 2024 – Kot Addu Power Company Limited (KAPCO) has achieved a significant milestone by submitting the lowest bid for K-Electric’s (KE) proposed solar power project, furthering Pakistan’s shift towards renewable energy solutions.
In a formal disclosure to the Pakistan Stock Exchange (PSX), KAPCO revealed that its bid for KE’s solar project, to be established at Deh Hakani in District West, Karachi, was the most competitive. The 120 MW project is proposed at a tariff of Rs 9.8319 per kWh, which equates to 3.4061 cents per kWh, based on the reference exchange rate of USD/PKR 288.65. This project bidding was conducted under the National Electric Power Regulatory Authority’s (NEPRA) Electric Power Procurement Regulations, 2022, ensuring transparency and adherence to regulatory standards.
The award of the project to KAPCO is contingent upon NEPRA’s final approval, which will be based on the auction and evaluation committee’s report submitted by KE. If granted, the project will mark another step forward in Pakistan’s adoption of clean energy technologies.
About KAPCO
KAPCO was originally established by the Pakistan Water and Power Development Authority (WAPDA) between 1985 and 1996. Located in District Muzaffargarh, Punjab, the plant sits on the left bank of the River Indus, approximately 16 kilometers from Taunsa Barrage and 90 kilometers northwest of Multan.
In April 1996, KAPCO was incorporated as a public limited company under the Companies Ordinance, 1984, to take ownership of the power plant from WAPDA. Following international bidding facilitated by the Privatization Commission, 36% of WAPDA’s shares in KAPCO were sold to a strategic investor. Subsequent transactions in 2005 saw 18% of WAPDA’s shares sold to the public, resulting in KAPCO’s listing on the Pakistan Stock Exchange.
Today, KAPCO is a key player in Pakistan’s energy sector, operating and maintaining power facilities while advancing its commitment to renewable energy. Its success in securing the KE solar project demonstrates its capabilities and dedication to sustainable development.
