New IFC Guidebook Contributed to by Eversheds Explains the Solar Market and Opportunity in Pakistan

• Middle East

• Energy and infrastructure - Clean energy

21-01-2016

Eversheds is focused on the Solar market globally and is therefore delighted to announce its contribution to IFC's new guide, A Solar Developer’s Guide to Pakistan available by clicking here. The guide will help investors understand the development and finance process for solar projects in Pakistan, part of ongoing efforts to help address the country’s energy shortfall and boost its capacity for renewables.

The guidebook provides important information for international investors and developers implementing solar projects in Pakistan, outlining development procedures and explaining the legal and regulatory mechanisms around them. It also explains the requirements surrounding the preparation, agreement, approval and implementation of projects up to financial close.

‘The solar market in Pakistan is at a nascent stage,’ said Bryanne Tait, IFC Regional Lead for Energy and Resource Efficiency Advisory in the Middle East and North Africa. ‘Pakistan has tremendous potential to meet its power needs from renewable energy sources and, in particular, solar. We hope this guidebook will help provide the information needed to unlock the country’s solar market.’

Eversheds has worked with AEDB and NEPRA on the bankability of the project documents including the PPA.

In December 2015, Pakistan’s National Electric Power Regulatory Authority announced a new round of solar tariffs valid until June 30, 2016. The guide is designed to help solar developers make use of these tariffs and drive international investor participation in the country’s solar market.

Eversheds is delighted to have contributed to the guidebook, developed as part of IFC’s Middle East and North Africa Renewable Energy program. For more information please visit the IFC website by clicking here.