The Abraaj Group to Acquire Majority Stake in Jhimpir Power (Asia)
Posted On: 25 Jan 2017 | Source: The Abraaj Group
Global growth markets investor The Abraaj Group has agreed to acquire a majority stake in Pakistan-based Jhimpir Power (JPL) from Asia- and MENA-focused renewable power developer and investor Burj Capital. JPL wholly owns a 50 megawatt wind power project in the Jhimpir wind corridor in southeast Pakistan. The project is expected to commence operations in the first quarter of 2018. Financial details of the transaction were not disclosed.