ISLAMABAD - Sapphire Wind Power Company (SWPCL), a subsidiary of Sapphire Group, has secured LOI from Alternative Energy Development Board (AEDB) for the development of 50 MW wind power project in Jhimpir District Thatta, Sindh. According to a press release issued here on Monday, the company has completed the project feasibility study and received the generation license and tariff from NEPRA under Upfront tariff regime. SWPCL has signed the EPA with CPPA and implementation Agreement (IA) with AEDB in February 2014. The Company has achieved all the requisite milestones of Letter Support (LOS) and today the project has achieved the Financial Close.

The Project is expected to achieve Commercial Operation Date (COD) in December 2015.

The estimated project cost of 50MW is US $ 123 million. The financing structure of project is 70% debt and 30% equity. The entire debt of the project is financed by OPIC, USA.