Karachi June 29 2021: Board of Directors of Fauji Fertilizer Bin Qasim Limited has approved the sale of company’s stake in Foundation Wind Energy - I and II a new FFBL Investment.
FFBL BoD approved sale of its stake for PKR2.73 billion and PKR2.75 in Foundation Wind Energy – I and Foundation Wind Energy – II, cumulating into total consideration of PKR5.5 billion
FFBL Investment:
FFBL has investment of PKR2.46 billion in two Wind Power Plants, Foundation Wind Energy- I Limited (FWE-I) and Foundation Wind Energy- II Limited (FWE-II) of 49.5 MW each. Total project cost of FWE-I was USD125 million and for FWE-II USD124 million with a debt to equity ratio of 75:25. FFBL holds 35 percent shares in each project.
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