Pakistan has signed a two hundred million MOU with a Chinese firm to convert a thermal plant to solar power. The project will upgrade an existing thermal power plant to a 300 MW solar power plant through the Special Investment Facilitation Council (SIFC). The project will generate 400 million units of electricity per year at a significantly lower cost, reducing the cost from forty five rupees to fourteen rupees per unit. The project will eliminate the need for Heavy Fuel Oil (HFO). It is estimated to save forty four million dollars annually due to reduction in import bills, offering attractive returns to stakeholders. Source: Radio Pakistan