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Norsk Solar: to build Gharo solar power plant in Pakistan

  • Sector: Energy
  • Date: February 5, 2019

  • Company: Norsk Renewables develops and invests in renewable energy in emerging markets.

Two years after the company was established, Norsk Solar has joined forces with Harappa Solar from Pakistan and Windforce from Sri Lanka to build a 400MNOK solar power plant in Pakistan.

The Dutch financial institution provides loan financing and the power is sold to a national electricity company on a 25-year contract.

New energy is most needed in emerging markets, but it also poses its own transparency challenges, explains Øyvind Vesterdal, CEO at Norsk Solar. Projects tend to have more challenging areas, or a higher risk of corruption. This means that we need to have a strong spotlight on how we and our partners operate in all our projects. We have similar requirements for international loan financing institutions.

Read the full article on Dagens Næringsliv’s news pages here (Norwegian only).