Siddiqsons Limited has decided to invest $110 million for the installation of two solar power plants of 50 megawatts in Khyber Pakhtunkhwa.
The company has formulated two special purpose enterprises named Siddiqsons Nowshera Solar Limited and Siddiqsons Kohat Solar Limited. These enterprises have applied for the generation licenses for the solar power plants with the National Electric Power Regulatory Authority.
The two projects have an expected life of 25 years, and they are expected to achieve commercial operation in the first quarter of 2020. Both projects will generate electricity to sell to the Central Power Purchasing Agency.
Siddiqsons Group has initiated several alternative renewable energy power projects, including solar and hydro, having a cumulative capacity of over 600 megawatts.
The group has allied with a few foreign renowned companies to develop solar power and hydropower projects in the country.
All these projects are situated in Khyber Pakhtunkhwa, Kashmir, and Punjab. These projects will help narrow the gap between power demand and supply and ultimately will reduce load shedding.