Pakistan Plans Massive 500MW Floating Solar Power Project in Sindh
Pakistan has announced plans to develop a massive 500-megawatt floating solar power project at Keenjhar Lake to boost renewable energy production and reduce dependence on imported fuel.
According to officials, the project will be established in Sindh with an estimated investment of around $243.63 million under Pakistan’s clean energy expansion strategy.
The floating solar project is expected to generate nearly 861.91 gigawatt-hours of electricity annually with a projected capacity factor of 19.6 percent.
Authorities revealed that the electricity produced from the solar facility will be supplied to K-Electric through a long-term power purchase agreement.
Officials say the project is part of Pakistan’s broader efforts to achieve 2030 climate and emission reduction targets while improving energy security.
The government plans to develop the project under the Engineering, Procurement, and Construction (EPC) model through competitive international bidding.
Reports suggest authorities have already received a letter of intent from K-Electric, while the bidding process for EPC contractors is currently underway.
Unlike traditional solar farms, the project will utilize the water surface of Keenjhar Lake, helping avoid land acquisition issues and improving solar panel efficiency through natural cooling.
Energy experts believe floating solar technology can increase electricity production because water helps maintain lower panel temperatures during hot weather.
The location near major industrial zones is also expected to improve electricity transmission efficiency for urban and industrial consumers.
According to project documents, the floating solar facility is projected to offer an internal rate of return of nearly 13.94 percent.
Officials further stated that the expected tariff for electricity generation may remain around 3.98 US cents per kilowatt hour.
The financing structure reportedly includes approximately $182.72 million in debt financing and around $60.91 million in equity investment.
Authorities believe the project will also create new employment opportunities during construction and operational phases, especially in technical and maintenance sectors.
