IB VOGT intends 100MW solar plant

Jul 30, 2020 12:55 PM ET
  • F1 Solar PK has actually looked for a generation license for a 100MW solar energy plant proposed to be established in Jamshoro Sindh at an estimated price of $83.4 million, a declaration said on Wednesday.

The primary enroller of the project, IB VOGT GMBH means to be a significant gamer in establishing projects in the power market with particular emphasis on development of renewable energy projects through investment in efficient and also lucrative projects.

IB VOGT has actually developed 2 subsidiaries, which are the major investors in F1 Solar PK including IBV Lasbela Holdco 1 Limited and also IBV Lasbela Holdco 2 Limited, both developed in the United Kingdom under the legislations of England as well as Wales.

There has actually been a massive rise in the demand of energy due to commercial advancement and population growth, in contrast to enhancement in energy production. Supply of power is, consequently, far less than the real need, resultantly situation.

As a result of poor energy mix, the majority of the country's generation is coming from thermal gas resources consisting of furnace oil and also high speed diesel, which results in costly generation of 12 USD cents/ KWh generally.