Sapphire Renewables: Sapphire Wind Power

Sapphire Wind Power Company Limited 52.8 MW: Sapphire Group and Bank Alfalah took the lead in entering the nascent wind energy sector in Pakistan and established SWPCL for undertaking independent development of a wind farm in the country. The 52.8 MW project is developed in the Gharo- Jhimpir wind corridor around 80 km from Karachi. SWPCL has followed a highly professional and transparent path for project development and created a number of firsts in the sector. SWPCL was Pakistan's first wind project to get registered with UNFCC for sale of CERs; it was the first wind power project to opt for the Feed In Tariff and the first wind energy project to secure funding from Overseas Private Investment Corporation, USA (OPIC). The project achieved financial close in July 2014 and achieved COD on 22 November 2015. Tricon Boston Consulting Corporation Pvt. Limited 150 MW (Owned by Sapphire Group): Triconboston Consulting Corporation Private Limited (TBCCPL) is a Special Purpose Vehicle (SPV) set up by the Sponsor, Sapphire Textile Mills Limited, to develop, own and operate 3 x 50 MW wind farm as an Independent Power Producer in Sindh, Pakistan. TBCCPL acquired 3,852 acres of land on lease from Government of Sindh in Jhimpir, Sindh, Pakistan and carried out a detailed technical and financial feasibility study which was approved by the AEDB. Following international competitive bidding processes, the company awarded the EPC and O&M Contract to Hydro China and General Electric respectively. The Project is located at Jhimpir, District Thatta, Province of Sindh (the Site) in the south-eastern part of Pakistan between Hyderabad and Karachi, approximately 95 km inland from the coast in a semi-desert area with rare vegetation. The Project has achieved financial close on 10 May 2017, financed by a consortium of international lenders comprising IFC and ADB. This project was completed in record time and is the fastest wind power project in Pakistan to achieve COD in Pakistan.