Sinosure

China’s Overseas Investment Insurance – Sinosure

For the majority of projects along the Belt and Road Initiative (BRI) four layers of actors can be identified: Lender, Credit Insurance, Construction Company, and Project Developer. The lenders are often familiar names such as China Development Bank (CDB), Industrial and Commercial Bank of China (ICBC) or the Export-Import Bank of China. The provider of Credit Insurance – Sinosure – however is a rather unknown name despite its wide appreance among the BRI projects. Nevertheless, Sinosure is a significant player in the making of projects along the BRI since it provides a safety net critical to Chinese investors. Therefore, we want take a closer look at the Credit Insurarer Sinosure and its engagement within the BRI.  Continue reading Sinosure

Matiari – Lahore Transmission Line Project

The Matiari-Lahore Transmission Line Project is a 660-kilovolt high-voltage direct-current (HVDC) line that is currently under construction within the framework of the Early Harvest projects of the China-Pakistan Economic Corridor (CPEC). The project is aligned with the coal-fired power projects in the province of Sindh, transferring 4000MW electricity from Thar and Port Qasim to central Pakistan. It is crucial for the evacuation of electricity from this region and the general improvement of Pakistan’s grid structure. It will be the first HVDC transmission line in Pakistan and will consist of 878km. Furthermore, will the project be the first power transmission line in Pakistan financed through the foreign investment as well as through the private sector.

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Kohala Hydro Project

The Kohala Hydro Project is located an the Jhelum River near Muzaffarabad District. The dam site is proposed just upstream of Domel, 174km from Islamabad and will have an installed capacity of 1,100MW. The average annual energy generation of the main power station will be 5.079 billion kWh. The project is part of the China-Pakistan Economic Corridor (CPEC) under the Belt and Road Initiative.

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Three Gorges Second & Third Wind Farm

The first wind farm in Pakistan constructed by China Three Gorges Corporation, Three Gorges First Wind Power Project, which was at the same time the first wind farm to be constructed by a Chinese company, started commercial operation in 2014. Shortly after operation of the Three Gorges First Wind Power Project, a second and third wind farm was decided. Despite, these two wind farms being understood as two separate projects – the Three Gorges Second Wind Power Project and the Three Gorges Third Wind Power Project – they can also be seen as two phases of the Three Gorges Wind Power Project.

The first phase of the project, namely the Three Gorges First Wind Power Project, precedes the Belt and Road Initiative (BRI) and was established on a Build-Own-Operate model with a cost of 130.28 million USD. The second and third phase, the Three Gorges Second and Third Wind Power Project, are affiliated with the early harvest program of the China-Pakistan Economic Corridor.

The two projects, Three Gorges Second Wind Farm and Three Gorges Third Wind Farm, have a designed capacity of 49.5 MW and 33 wind turbines each. For each of the three projects a company was established, the Three Gorges First Wind Farm Pakistan (Pvt.) Ltd., the Three Gorges Second Wind Farm Pakistan Ltd., and the Three Gorges Third Wind Farm Pakistan (Pvt.) Ltd., who are all arms of the Three Gorges Corporation, one of the world’s largest energy companies.

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Thar Engro Coal Power Project (Thar block-II)

The Thar Desert – with 175 billion tons of coal – is home to the 7th largest coal reserves in the world. The Thar Engro Coal Power Project (also known as Thar-II or Thar Coal Block II) will consist of three phases and is located in Tharparkar District, Sindh Province, Pakistan. Phase I consists of an open pit mining project and two 330 MW lignite sub critical coal fired power plants. In Phase II, the mine will be expanded to yield 13.5 million tons of coal and in Phase III, the mine will be expanded to yield 19.5 million tons of coal annually in order to support 3600 MW of power generation. The coal power plant is currently under construction in Block II of the Thar coal field. In total the Thar Power Project will consist of five Blocks. The project is being developed as part of the China – Pakistan Economic Corridor (CPEC) by Sindh Engro Coal Mining Company (a joint venture between the government of Sindh and Engro Corporation) and China Machinery Engineering Corporation under the Belt and Road Initiative.

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Cooperation agreements and MoUs under the Belt and Road Initiative

The Belt and Road Initiative (BRI) is often subject of controversial debates. Something that frequently heats up the minds and ignites political debates are governmental-level bilateral signed BRI-MoUs (Memorandum of Understanding), which not only promise cooperation within the framework of BRI, but also substantiate the legitimacy of the initiative. This was seen last year, when the Australian state of Victoria decided to sign a MoU with China on the BRI. While some stated that signing this MoU is no big deal as the furor over Victoria’s MoU with China overlooks that – in Beijing’s eyes – the BRI is already at work in Australia, neither federal Labor nor the federal government were amused about Victoria’s solo run.

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Quaid-e-Azam Solar Park

Located in the desert area of Lal Sohanra, spanning 2,630 hectares with installed flat-panel PV and a total installed capacity of 1,000 MW, the Quaid-e-Azam Solar Park is one of the worlds largest solar power plant. Being the first utility-scale, grid connected solar power plant of Pakistan, the project consists of three phases (Phase I – 100 MW, Phase II – 300MW and Phase III – 600MW). The Solar Park in the long run is expected to play a critical role in attempting to bridge the supply demand gap that Pakistan is facing.

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UEP Wind Farm

The UEP Wind Farm is one of five Wind Farms developed under the China-Pakistan Economic Corridor (CPEC) of the Belt and Road Initiative. With an installed capacity of 99 MW it is the largest wind power project developed under CPEC. Like most other wind projects in Pakistan, the UEP Wind Farm is located in Jhimpir, which is part of the so-called “Gharo-Jhimpir wind corridor”, a 180 km stretch of coastal land with high wind power production potential.

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BRI Factsheet Series – Sachal Wind Farm

In September 2017, Pakistan’s National Electric Power Regulatory Authority released the information that the share of wind power in the overall energy mix had increased by 0.46 per cent to 1.23 per cent. This brings the country closer to reach its 2030 target of 5 per cent wind-power of its overall electricity output. An important component of this wind power expansion is the Sachal Windfarm Project, a wind farm, developed on 275 hectare of land, with a total installed capacity of 49.5 MW. The project is located in the Jhimpir wind corridor in the Thatta District, Province of Sindh, being developed under the China-Pakistan Economic Corridor (CPEC) of the Belt and Road Initiative.

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Dawood Wind Power Project

The Dawood Wind Power Project is a wind farm developed on 1,720 acres of tidal flats in the Province of Sindh. This is the first China-backed wind farm in Pakistan. The project is being developed under the China-Pakistan Economic Corridor (CPEC) of the Belt and Road Initiative.

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