By the second quarter of 2021, Renewable energy company Three Gorges First (TGF) Wind Farm Private (Pvt) Limited (Ltd) a subsidiary of China Three Gorges to be listed on the Pakistan Stock Exchange (PSX).
This is being considered the first one for listing on the PSX by the Chinese Company. According to the sources, Three Gorges First (TGF) listing would have been carried out in the second quarter of 2020 but due to the coronavirus crisis, it was delayed and the plan was postponed. The company is now planning to complete the listing by the second quarter of 2021.
Read more: 10 new IPOs at PSX on the cards: Asad Umar
CSAIL is an investment holding company formed by state-owned China Three Gorges Corporation (CTG), the largest Chinese clean energy group and the world’s largest hydropower group in terms of owned and equity-based installed capacity worldwide and CTG’s subsidiary China Three Gorges International Corporation (CTGI). China Three Gorges that has been poised to list its subsidiary on PSX had been formed to invest in clean energy projects in the South Asian region with a current focus on Pakistan. PSX
However, CSAIL’s mandate includes but is not limited to acquisition, development, construction, owning, and operating renewable energy projects. The shareholders of CSAIL include International Finance Corporation (IFC) of the World Bank Group and Silk Road Fund (SRF), a Chinese sovereign wealth fund.
Moreover, there are 6 separate energy projects in Pakistan of the company under which 4 come under the China-Pakistan Economic Corridor (CPEC) and two are independent.
The CPEC projects of the company include two large hydropower projects, the 1,100MW Kohala Hydropower Project and the 720MW Karot Hydropower Project, both located on Jhelum River, and two wind power projects that include 100MW Three Gorges Second and Third Wind Power Projects.
Whereas Non-CPEC projects include, the aforementioned Three Gorges First Wind Farm and 640MW Mahl Hydropower Project, also located on Jhelum River.
