Karachi: K-Electric’s initiative to enhance Pakistan’s renewable energy capacity reached a pivotal phase as Master Textile Group proposed the lowest ever tariff of PKR 11.2 per unit for the 150 MW solar projects in Balochistan. This bid sets a new benchmark in the country’s renewable energy tariffs, underscoring a significant advance in K-Electric’s broader goal to integrate 1300 MW of sustainable energy into its generation mix.

According to K-Electric, the financial bids were opened during a private ceremony in Karachi, marking a critical step following the technical bid opening for these projects. The successful bidder will be declared post the evaluation of these bids and subsequent approval from NEPRA, the national regulatory authority. This process is part of a larger plan involving three tranches of projects aimed at raising the renewable energy share to about 30% of K-Electric’s total generation capacity.

The event highlighted the strong interest from both local and international firms, with participants such as JCM Power Group and Hecate Global Renewables from North America, and several notable Pakistani companies. KE’s leadership, including CEO Moonis Alvi and Chief Strategy Officer Shahab Qader, emphasized the strategic importance of these initiatives in positioning Pakistan as a lucrative destination for renewable energy investments.

The deadlines for the upcoming bidding rounds for the additional projects are set for late August and September, with the regulatory and approval processes to follow.