Pakistan continues to draw interest from international companies looking to setting up large-scale renewable energy projects. Vestas Wind TurbineDutch wind energy equipment Vestas Wind Systems has announced plans to set up 1 GW of wind energy capacity in the Punjab province of Pakistan. Company officials have signed a letter of intent to develop the first phase of the Quaid e Azam Wind Park, which will have an installed capacity of 250 MW. The project will eventually be expanded to 1 GW capacity. Vestas has announced that it will seek to raise funding worth $2.2 billion to complete the 1 GW wind energy park. The Quaid e Azam Wind Park is expected to be implemented in the same lines as the Quaid e Azam Solar Power Park, which also envisages an installed capacity of 1 GW. Several international companies are currently working on wind energy projects in Pakistan. The Alternate Energy Development Board (AEDB) announced last year that over 40 wind energy projects are in various stages of development and are likely to contribute around 2,050 MW capacity to the national grid by 2017–2018. Currently, 28 projects with a cumulative capacity of 1,396 MW are under construction, of which 9 have achieved financial closure and 14 are under various stage of project development.