Guided by SIFC: Power Division updated on NPGCL-Ningbo pact

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ISLAMABAD: Chief Executive Officer (CEO), Northern Power Generation Company (NPGCL) has shared detailed background of a pact with M/s Ningbo Green Lights Energy Limited (NGLE) under the guidance of the Special Investment Facilitation Council (SIFC). In a letter to Power Division, CEO NPGCL, Sabeeh uz Zaman Faruqui referred to Power Division’s letter of March 19, 2024 to NPGCL (GENCO-III) along with the minutes of meeting of the SIFC held on March 5, 2024 in the Prime Minister’s Office, with the direction to implement the decisions of meeting of the SIFC and submit the report in next meeting of the SIFC. Power Division, in its letter of March 26, 2024 was reminded to implement above discussed directions.

According to Chief Executive Officer NPGCL, as conveyed in the minutes of SIFC, a meeting of SIFC was held on March 5, 2024 in the Prime Minister’s Office Islamabad. The meeting was chaired by the Secretary SIFC and attended by representatives from Power Division, CPPA-G, NEPRA, NTDC, PPIB, and M/s Ningbo Green Light Energy Pvt Limited (NGLE). The meeting decided to install a 300 MW utility solar power plant, at the vacant available land of Thermal Power station (TPS) Muzaffargarh through JV/PPP (Open Competitive Bidding).

The decision part of the meeting, are as follows: (i) Secretary SIFC noted that as TPS GENCO-III is also a main stakeholder therefore M/s Ningbo may formally engage in an MoU/contract with GENCO-II land participate jointly in the next meeting; and (ii) Secretary SIFC also requested M/s Ningbo Green Light Energy to submit complete latest feasibility of the project with the consent of TPs GENCO-III.

SIFC, NAB and the civil service

Hence, to comply with the directions of Power Division/SIFC, PM Office, NPGCL took necessary steps on war-footing. The draft MoU was received from M/s Ningbo Green light (Pvt.) Limited and in the light of legal vetting by legal advisor of NPGCL M/s Faiz, Shinwari & Sharif, necessary changes were made in the draft; and final draft was formally approved by the Board of NPGCL unanimously in its 161st meeting held on March 30, 2024, said Sabeeh Faruqui.

After completion of formalities, the MoU was signed in the office of GHCL Islamabad on April 03, 2024 between NPGCL (GENCO-III) and M/s NGLE (China) in the presence of, besides others, the Secretary SIFC along with his team.

The Power Division in a letter of March 27, 2024, directed NPGCL to furnish a working paper on this matter. In compliance, the working paper has been submitted to the Power Division vide NPGCL letter of March 27, 2O24.

The information has been submitted to Power Division as an update on the matter.

Copyright Business Recorder, 2024

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