NPGCL inks $200m FDI MoU with Chinese firm NGLE

In a significant stride towards sustainable energy production, Northern Power Generation Company Limited (NPGCL) GENCO-III, Muzaffargarh, in collaboration with Ningbo Green Light Energy (NGLE) (Private) Limited, China, has formalised a memorandum of understanding (MoU) worth $200 million in foreign direct investment (FDI).

Facilitated by the Special Investment Facilitation Council (SIFC), this MoU aims to convert an existing thermal power plant into a state-of-the-art 300-MW Solar Power facility.

According to the details, it is expected to yield 400 million units of cost-effective electricity using solar energy. This transformative project would slash production costs from PKR 45 to PKR 14 per unit.