Modern Energy Management (MEM), a specialist in delivering project lifecycle certainty to renewable energy developers, financiers and investors has been engaged to work on behalf of CapAsia’s Islamic Infrastructure Fund (IIF) at two early wind farms in Pakistan.
Under the terms of the contract, MEM, led by founding partner Lars Lund, is providing asset management, human resources and technical advisory services to the private equity fund, which focuses on developing infrastructure projects in emerging Asian markets.
Pakistan has an ambitious wind energy development pipeline and over 1GW of new capacity is scheduled for installation by 2018. With the number of operational wind farms in the country set to more than triple during this period, the market has an opportunity to build on experience gained at its first utility-scale sites, currently in operation in southern Pakistan.
The CapAsia-backed wind projects have been operational since April 2015 and December 2014, respectively. Located in the Sindh Valley area near Karachi, each project consists of 20 Nordex N-100 2.5MW turbines and represents a total of 50MW installed capacity.
In order to support the project sponsors during the first years of operation, MEM is making use of its unique international expertise developing, building and operating renewable energy projects in emerging markets to provide valuable project management and technical advice to the senior team running the wind farms.
In doing so, Lars and the MEM team will help to ensure that both wind farms continue to deliver steady returns to project investors throughout their lifetime and set a market-wide standard for operational performance.
“As two of the first utility-scale wind farms in Pakistan, Modern Energy Management considers these flagship projects of critical importance to Pakistan’s renewable energy initiative,” said Lars Lund, Director, Modern Energy Management. “We are honoured to contribute to the team and help oversee the success of these projects.”