Pakistan pursued the renewable energy policy to minimize the cost of energy per kWh as well as dependence on costly imported oil. Jhimpir site is termed as wind corridor and has tremendous proven wind power potential. The site is hosted for the first installed wind power plant. The aim of paper is to investigate the performance and levelized cost of energy of a wind farm. The methodology covers assessment of wind characteristics, performance function and levelized cost of energy model. The measured mean wind speed was found to be 8 m/s at 80 m above the ground level. The average values of standard deviation, Weibull k and c parameters, obtained using entire data set, were found to be 2.563, 3.360 and 8.940 m/s at 80 m. Performance assessment including technical, real availability and average capacity factor was found to be 97, 90 and 34.50%, respectively. It is evident that the power coefficient dropped if wind speed crosses the rated power. So it can be concluded that the efficiency of wind turbine decreased by increased wind speed. Tip speed ratio shows that a wind turbine operating close to optimal lift and drag will exhibit the performance level. Wind turbine performs better at the wind speed between 6 and 10 m/s. The estimated average levelized cost of energy was US $0.11371 and US $0.04092/kWh for 1-10 and 11-20 years, respectively. This makes it competitive in terms of low production cost per kWh to other energy technologies.