By SKM
January 06, 2025
ISLAMABAD: Pakistan with the help of China will complete the biggest ever nuclear power plant of 1200 MW at Chashma in 81 months at the cost of Rs1.125 trillion. To this effect, the government of Pakistan has initiated the construction of the project.
PAEC has disclosed this in its petition submitted with Nepra, also available with Exclusivewaves.com.pk. The Pakistan Nuclear Regulatory Authority (PNRA) has already issued a license to the Pakistan Atomic Energy Commission (PAEC) to build unit 5 at the Chashma Nuclear Power Plant (C-5), which will be Pakistan’s largest nuclear plant with a capacity of 1,200 MW. The cooperation agreement for C-5, a Hualong One (HPR1000) reactor, was signed with China in 2017.
Now in the petition, PAEC has pleaded for levelised tariff of Rs16.7354 (5.97 cents) per unit in its petition for 40 years for the project of Chashma Nuclear Power Plant-5 (C-5) of 1,200 MW.
Nepra has admitted the petition under which the project will be completed in 81 months at a cost of Rs1,124.842 billion with equity of 19 percent and debt of 81 percent. The PAEC petition sought the tariff of Rs19.8268 per unit for 1-12 years and Rs9.6320 per unit for 13-40 years and this is how the levelised tariff would be at Rs16.7354 per unit.
The cost of the Rs1,125 billion of the project includes EPC cost of Rs965.835 billion, non-EPC Rs69.469 billion and IDC (interest during cost) Rs89.538 billion.
The Return on Equity has been sought at 14.50 percent per annum. The redemption of equity has been assumed in 28 years from 13-40. The debt repayment period would be of 12 years with a grace period of 8 years. The interest rate on the 81 percent financing that China is to provide stands at 3 percent. The loan will be provided at an exchange rate of Rs280 against one US dollar, Rs38.50 against one RMB, and RMB7.27 against one US dollar. The C-5 will have a 90 percent plant factor.
PAEC in its petition asked for the two-part tariff structure comprising Energy Purchase Price (variable) and Capacity Purchase Price (fixed) on take or pay basis. The overnight capital cost has been estimated at $3081 per kW.
The country has two nuclear power plant (NPP) sites containing six operating units, constituting a total electricity generation capacity of 3,262 MW.
One site is in the Punjab province, near the city of Mianwali, called the Chashma Nuclear Power Generating Station (CNPGS) and houses four units C-1, C-2, C-3 and C-4, all based on a 300 MW pressurised water reactor (PWR) design.
The second site is near the city of Karachi in the Sindh province, and is called the Karachi Nuclear Power Generating Station (KNPGS). Two identical plants at KNPGS, KANUPP-2 and KANUPP-3, are based on a 1,100 MW advanced PWR design.
A 137 MW pressurized heavy water reactor (PHWR) design unit named KANUPP-1 at KNPGS is being decommissioned, after completing 50 years of operation. Ends
