General Electric (NYSE:GE) Renewable Energy joins Hawa Energy on the Hawa Power Project, the fourth 50 MW project in Pakistan to boast the industrial giant’s advanced wind turbines. The wind farm kicks off in the Gharo-Keti Bandar Wind Corridor in Jhimpir, Sindh with eyes on spurring even more renewable energy growth in the region. Power China is implementing this 29, 1.7 to 103 wind turbine-project, taking on the role of engineering, procurement, as well as construction (EPC) contractor.
In addition to the provision of wind turbines, GE will also provide 10 years of operations and maintenance services as part of the contract, making it a one-stop shop for Hawa Power Project. This agreement will encompass technical experience, data-driven insights and industry-leading trouble-shooting practices, smart maintenance and repairs while prioritizing lifecycle costs and guaranteed availability.
Dr. Manar Al Moneef, General Manager of GE Renewable Energy in the Middle East, North Africa and Turkey, said: “GE has a rich heritage of more than six decades of collaboration and partnership in Pakistan, cementing its position as a committed solutions provider to the energy sector. The commissioning of this fourth wind farm and its provision of an additional 50 MW of renewable energy, which serves to create critical capacity that didn’t previously exist, and meet the low-cost and reliable electricity needs of thousands of citizens, is a proud moment for us.”
GE’s 1.7-100/103 wind turbine offers a 47 percent increase in swept area when compared to GE’s 1.6-82.5 turbine, resulting in a 24 percent increase in Annual Energy Production (AEP) at 7.5 m/s. This increase in blade swept area allows greater energy capture and improved project economics for wind developers. GE has been providing advanced wind turbines for the development of wind power plants in the Jhimpir corridor in Thatta district, adding more power to the national grid.
Farman Lodhi, Chief Executive Officer, Hawa Energy, said: “This partnership is built on numerous critical factors, including the exceptional reliability provided as well as the commitment to deliver by GE. All 29 turbines are now online, feeding power into the national grid and can meet the needs of more than 20,000 households. I look forward to seeing this project bridging a part of the power supply-demand gap in the country.”
GE Renewable Energy is one of the world’s leading wind turbine suppliers, with more than 35,000 wind turbines installed globally. GE is focused on supporting Pakistan’s socio-economic growth, with technologies that generate more than 1/3 of the country’s electricity.
Sarim Sheikh, President & CEO of GE Pakistan, Iran & Afghanistan, said: “GE is committed to supporting local developers in Pakistan to build additional wind power capacity in the country. This project is a significant step toward an increase power generation from alternative sources of energy, a supply which is abundant in Sindh. It is a moment of pride for me to see our presence in Pakistan grow from strength-to-strength, especially given the profound impact these types of projects have on local communities.”
The Government of Pakistan has tasked the Alternative Energy Development Board (AEDB) to ensure 5 percent of total national power generation capacity to be generated through renewable energy technologies by the year 2030, following the U.S. Agency for International Development and the National Renewable Energy Laboratory estimates that Pakistan has over 132 gigawatts (GW) of wind energy capacity.
TipRanks exhibits this industrial giant as one splitting Wall Street between the bulls, the bears, and the mostly sidelined. Out of 14 analysts polled in the last 3 months, 2 are bullish on GE stock, 9 remain sidelined, while 3 are bearish on the stock. With a return potential of 4%, the stock’s consensus target price stands at $14.60.