Which company owns the Karachi energy storage power station in Pakistan

Who owns Karachi Electric Supply Company Limited?

Formerly known as Karachi Electric Supply Company Limited, the power utility is an integral part of one of the world’s most populous cities. In 2009, KES Power Limited, the majority shareholder of KE, put into place a turnaround strategy which has seen investments of over USD 4.1 billion.

Who owns Port Qasim power plant?

The plant is operated by Port Qasim Energy Holding, jointly owned by China’s Power Construction Corporation (51%) and Al-Mirqab Group (49%). Both companies individually invested $521m. The coal power plant is one of the priority energy projects undertaken as part of the China Pakistan Economic Corridor (CPEC) of the Belt and Road Initiative.

Why are Saudi and Pakistani investors battling for control of K-Electric?

For more information about how we use your data, please refer to our privacy and cookie policies. Saudi Arabian and Pakistani investors are battling for control of one of Pakistan’s biggest power companies, a fight that threatens to derail not just reform of K-Electric but also Saudi investment in a country that desperately needs it.

Why is Pakistan trying to privatise the power sector?

The dispute speaks more broadly to the fraught attempts at privatisation of a sector that is key to Pakistan’s development. Private equity group Abraaj, which made an investment of $360mn in 2008, halved transmission and distribution losses to 15.3 per cent, helping power generation keep up with the demands of Karachi’s ballooning population.

What happened to China's coal power plant project?

The coal power plant project achieved financial closure in December 2015 with the Export-Import Bank of China (China EXIM Bank) providing a debt facility. EXIM provided $1.56bn required for construction of the plant.

How much coal does Matiari power plant use a year?

The plant has an annual coal consumption of approximately 4.66 million tonnes (Mt) to 5.20Mt. A 180km-long, 500kV AC transmission line transmits the power generated at the power plant to the Matiari 500kV substation, which further feeds the power to the national grid.