MESSAGE FROM CEO
Mobilizing and generating affordable and environment-friendly energy resources is one of the key challenges for any nation in today’s world. Today the top priority for Pakistan is Energy and Power Generation. Presently, Out of around 162 million population only 65-70% has access to electricity.
To Enter into power generation business is one of the diversified decision of Nishat Group with the vision to enhance its Investment into Energy Sector. Nishat Power Ltd. (NPL) a public limited company was incorporated in February 2007 under the Companies Ordinance for setting up power plant under the Power Policy 2002 on Build, Own and Operate (“BOO”) basis. Its a 200 MW Combined Cycle Power Plant based on Reciprocating Engine Technology. The primary fuel of the Plant is Residual Furnace Oil (“RFO”) and its uninterrupted supply is guaranteed by SHELL Pakistan. The Plant Configuration is eleven (11) proven Engine sets of type 18v46 manufactured by WARTSILA of Finland and eleven (11) generating sets, One (1) Heat Recovery Steam Turbine with generator.As per the Power Purchase Agreement, the NTDC has contracted to purchase the total net generation capacity of 195.26 MW produced by NPL for a period of 25 years at US cents 12.1253 per KWh. As the plant will operate on residual furnace oil, a Fuel Supply Agreement (“FSA”) has been signed between the Company and Shell Pakistan Limited for a period of ten years after the commencement of commercial production.The entire plant, machinery and equipment required for the project has been procured from Wartsila Finland Oy. Whereas, Wartsila Pakistan (Private) limited has been appointed for the construction, erection, installation testing and commissioning of the entire project. We have also awarded Wartsila Pakistan an Operations & Maintenance Contract for our Plant.The total cost of the project including interest during the construction period is around PkR17.704 billion.
Major Consideration of the Project were:
The Project would offer significant relief locally in the transmission system of Lahore, as it would bypass long transmission lines and potential stepdown transformer bottlenecks. There is currently no significant power generation inside this area
The plant generation would be consumed very close to the generation site, thus also reducing substantial transmission losses
The Project has been finalized and commissioned on a fast-track basis within 18 months as a power generation plant based on reciprocating engine single fuel RFO fired technology
It is hoped that NPL’s power project, the RFO based power plant under Power Policy 2002, shall serve as role model for others to follow.