Islamic, Asian Banks Finance 100-MW Pakistan Wind Project

Law360, New York (May 22, 2012, 2:02 PM EDT) -- The Islamic Development Bank and Asian Development Bank have agreed to chip in to a $133 million financing framework to develop two wind power projects with a combined 100-megawatt capacity in power-starved Pakistan, where steep energy shortages sparked protests earlier this month.

The arrangement, announced Saturday, is one of several cropping up in the renewables-rich country, suggesting it could be on the cusp of a major influx of alternative energy investments. Pakistan's power supply has dwindled due to its reliance on increasingly scarce fossil fuels....
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