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GO Energy and STDC sign MoU to set up a 500 MW Floating Solar Project at Keenjhar Lake, Sindh

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GO Energy and Sindh Transmission & Dispatch Company (STDC) today signed a MoU for the transmission evacuation of a 500 MW Floating Solar Project at Keenjhar Lake, Sindh, Pakistan.

The Honourable Syed Nasir Hussain Shah, Minister for Energy, Government of Sindh, was the Chief Guest at the signing ceremony held in Karachi today. Other dignitaries present at the occasion included Mr. Musaddiq Ali Khan, Secretary Energy, Government of Sindh; Mr. M. Saleem Shaikh, CEO of Sindh Transmission & Dispatch Company; Mr. Ammar Ali, CEO, GO Energy, and Mr. Haris Jamil, Director CEO Secretariat, K-Electric.

The 500 MW Floating Solar Project is set to become one of the largest floating solar installations in the world with state-of-the-art solar panels and floating infrastructure designed to withstand the unique challenges of Keenjhar Lake’s environment.

During the construction and implementation period, the project will create thousands of jobs while stimulating economic growth in the region and contributing to Pakistan’s renewable energy industry. This project will help reduce the country’s dependence on fossil fuels by generating clean energy, improving air quality and contributing to a greener, healthier Pakistan.

Speaking at the occasion, Syed Nasir Hussain Shah, Minister for Energy, Government of Sindh emphasized the need for sustainable, renewable and ecofriendly energy. “The Government of Sindh is proud to be part of the 500 MW Floating Solar Project at Keenjhar Lake by providing the conducive environment to encourage investment in the renewable energy industry, reducing dependence on imported fuel and also reducing overall cost of electricity for the people of Sindh. This project will be a major milestone and achievement for the Government of Sindh as we continue to provide full support to make this project operational as soon as possible. “

Located in the heart of Sindh, Keenjhar Lake, offers an ideal environment for harnessing the power of the sun to generate clean and sustainable electricity without utilizing land that can be used for agricultural purposes.  The project will also reduce water evaporation losses by more than 50% for the covered area on Keenjhar Lake which is the major source of fresh water supply to the largest city of Karachi and adjoining areas.

Mr. Musaddiq Ali Khan, Secretary Energy, Government of Sindh, noted, “We welcome GO Energy’s efforts for the development of this innovative 500 MW Floating Solar Project at Keenjhar Lake. This landmark initiative aligns perfectly with our provincial & national goals to expand renewable energy capacity and reduce our carbon footprint. The government is committed to supporting such endeavors that not only bolster our energy security but also create employment opportunities and promote sustainable development in our country. We look forward to collaborating closely with GO Energy to ensure the success of this transformative project.”

This landmark, first of its kind project, is expected to generate more electricity from solar power compared to land based projects utilizing the natural cooling effects of Keenjhar lake’s water body resulting in cheap electricity that will reduce the overall basket rate of the grid, while also safeguarding marine life and reducing our reliance on imported fuel.

Mr. M. Saleem Shaikh, CEO Sindh Transmission & Dispatch Company said, “At STDC we are pleased to be a part of the 500 MW Floating Solar Project at Keenjhar Lake as it represents an innovative approach to integrating renewable energy into KE’s grid. Our team is committed to providing the necessary infrastructure and expertise to seamlessly connect this significant solar power generation capacity to the grid, ensuring a reliable and sustainable energy supply for the people of Karachi and adjoining areas.”

Mr. Ammar Ali, CEO, GO Energy said, “We are excited to embark on this historic journey, in partnership with Government of Sindh for developing a unique and innovate renewable energy project at Keenjhar Lake. Project Bankable Feasibility Study has been completed by Solar Energy Research Institute of Singapore (SERIS) with an extensive experience in floating solar worldwide. Environmental approvals are at a final stage with SEPA, and EPC bidding process is underway. Tariff approvals are targeted before the end of this year and financial close by early next year. This project underscores our unwavering commitment to combating climate change and driving economic growth through sustainable means. Together with our partners and stakeholders, we are determined to create a brighter, cleaner future for Pakistan.”

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