The National Electric Power Regulatory Authority (NEPRA) approved the tariff for the 300MW imported coal-fired power plant in Gwadar on July 26.
CIHC Pak Power, a special-purpose vehicle of China Communications Construction Co., will execute the project at an approved cost of $358 million.
NEPRA approved a levelised tariff of 7.78 US cents, or Rs22.34, per unit for the project. The average tariff for the first thirteen years was determined as Rs23.74 per unit, while the tariff for the remaining duration of the 30-year contract period was determined as Rs18 per unit.
The federal government had approved the project in January this year. The 300MW imported coal-fired power plant is expected to serve as a sustainable source of electricity provision in the port city, which holds central importance in the China-Pakistan Economic Corridor (CPEC) initiative.
On July 24, while speaking at a conference in Islamabad, Chairman NEPRA Tauseef H Farooqi stated that the project will go ahead after approval of its tariff by the Authority.