Jaguar Overseas Limited (JOL), a New Delhi based global Project Engineering-Procurement-Construction (EPC) company, announced it is constructing a 10MW solar power project in Kandahar, Afghanistan, which is also the country’s first tariff based solar power plant.
The project is supported by the United States Agency for International Development, (USAID), and Da Afghanistan Breshna Sherkat (DABS), the national utility company of Afghanistan.
The project aims to support 1.15 million people residing in the Kandahar province.
The project is being developed by Dynasty Oil & Gas Private Limited (DOGPL), a wholly owned subsidiary of Jaguar Overseas Limited headquartered in New Delhi.
JOL has signed a 15-year Power Purchase Agreement with (DABS), an independent and autonomous company in Afghanistan entrusted to operate and manage electric power generation, import, transmission, and distribution throughout Afghanistan on a commercial basis.
DABS will purchase power produced by JOL at a pre-defined rate for the next 15 years extendable up to 25 years.
Deepak Mathur, chief executive officer, Jaguar Overseas Limited, said, “The successful completion of this project will not only help in the growth of Kandahar but will also provide an impetus for improving the business climate through the availability of low cost power in the region. This will create an environment that aids the establishment of new industries in the region.”
USAID, which provides the largest bilateral civilian assistance program to Afghanistan, has spent almost $17 billion on development programs in the country since 2002. It partners with the government and the people of Afghanistan to ensure economic growth led by the country’s private sector.
Michael McCord, Acting USAID/Afghanistan Mission director, said, “We strongly believe that promotion of the private sector is the key to ensure further development of Afghanistan’s energy sector. We would continue to encourage more private/public investments in Afghanistan which will lead to economic growth, security and prosperity for the Afghan people”.