ISLAMABAD: The country’s renewable energy sector has secured more than $3 billion foreign investment during the last one year.
Alternative Energy Development Board (AEDB) Chief Executive Officer (CEO) Amjad Ali Awan revealed this while talking to APP. He said, “Due to the potential, robust policy framework, lucrative tariff structures and bankable security documents, Pakistan has become a choicer investment destination for private investors.”
He said the government was taking pragmatic steps to harness the available renewable energy potential, diversify its energy mix and ensure energy security and sustainable development in the country. He observed that owing to the promotion and development of RE technology in the country, a record investment has been witnessed in just one year, revealing the interest of investors in this sector.
The CEO said that detailed resource assessment of wind, solar and biomass was carried out in the country through ESMAP’s (World Bank) assistance. Ground installations for measuring of solar irradiation have also been made in several parts of the country, he added.
Amjad said that the AEDB has issued over 25 Letter of Interest (LoI) to various solar projects having 663 MW accumulative capacity so far adding that all these projects would attain commercial operations date (COD) by 2018.
The Punjab government has also issued LOI for 600 MW projects so far while the financing for 300 MW solar power project has already been done. The CEO said Quaid-i-Azam solar park was already operational and has been supplying 100 MW electricity to the national grid system while 300 MW more would be added to the system by 2016. The park would generate total 1000 MW by 2017, he said.
He said AEDB was also pursuing 35 solar PV power projects of cumulative capacity of approximately 1111.44 MW On-Grid Solar PV power plants.
Three solar power projects of cumulative capacity of “300 MW” have signed EPA and IA and were under construction, he said. These projects included M/s Appolo Solar Pakistan Ltd (100 MW), M/s Crest Energy Pakistan Ltd (100 MW) and M/s Best Green Energy Pakistan Ltd (100 MW) located all at Quaid-e-Azam Solar Park, Bahawalpur.
Amjad Awan said that some six IPPs, with a cumulative capacity of “47.84 MW,” have also obtained Letter of Support (LOS) from AEDB and were expected to achieve Financial Closing by December 31.
The projects included M/s Access Electric Pvt (10 MW), Pind Dadan Khan, M/s Bukhsh Solar Pvt (10 MW) Bahawalpur, M/s Sanjwal Solar Power (5.04 MW) Sanjwal, M/s Safe Solar Power Pvt (10.28 MW) Bahawalpur, M/s Access Solar Pvt (11.52 MW), Pind Dadan Khan and M/s Blue Star Hydel Pvt (1 MW) Pind Dadan Khan.
