Colony Textile to install 5MW solar power plant
ISLAMABAD, Sept. 4 (Gwadar Pro) - Pakistan’s famous Colony Textile Mills (CTM) has signed an agreement for installation of a 5MW solar power plant involving LONGi Solar modules and Huawei inverters. This was disclosed by National Electric Power Regulatory Authority (NEPRA) on Friday.
CTM has signed a 20-year Power Purchase Agreement (PPA) with YDE SA (SMC), a special purpose vehicle incorporated in Pakistan by a subsidiary of the UAE-based Yellow Door Energy (YDE). YDE SA will install a 5MW Direct Current (DC) or 4MW Alternating Current (AC) solar power plant at the CTM factory in Islamabad and Multan. The plant will cost around $3.25 million, which will be provided by the Dubai-based YDE as shareholder loan. YDE SA is also in talks with local banks for obtaining debt, the firm said in the documents submitted to NEPRA.
The plant involves installation of 9270 LONGi Solar modules of 540 watts each, and 40 Huawei inverters of 100KWeach. It will produce 7,700 MWh of electricity per annum and will offset approximately 4,600 metric tons of carbon emissions per year.
The plant will have a 25- year useful life. The company plans to complete the installation in April 2023.
CTM is already powered by a 30MW gas power plant, and connected with a 22MW supply line from the national grid as backup. The project shows eagerness of the CTM leadership to adopt new technologies and utilize its large unused rooftops, the documents stated.