Another worthwhile achievement of Al-Shafi Group of Companies is its bagasse based cogeneration power project of 40MW namely Kashmir Power (Pvt) Limited.
The Project will be situated at Shorkot, District Jhang. adjacent to Kashmir Sugar Mills Limited. The Project is being developed simultaneously under captive and independent power producer (IPP) mode and has been awarded an upfront tariff (feed-in tariff) as per the Government of Pakistan’s Framework for Power Co-generation 2013 Bagasse and Biomass as an addendum to the Renewable Energy Policy 2006 issued by Alternative Energy Development Board (“AEDB”).
Once operational, Kashmir Power (Pvt) Limited will sell the generated power to Kashmir Sugar Mills Limited and will also feed-in the national grid of National Transmission and Dispatch Company Limited (“NTDC”) via Faisalabad Electric Power Company (“FESCO”).
The project is in advanced stages of its completion. All regulatory requirements like power generation license, issuance of tariff and energy purchase agreement have been fulfilled and soon the civil works for installation of the plant would be started.