Federal Water and Power Minister Naveed Qamar has directed Alternative Energy Development Board (AEDB) to swiftly process pending cases of wind power projects and give the go-ahead to them so that the projects could be set up.
The minister also asked AEDB to finalise standards for an energy purchase agreement for wind power projects. He issued the directives while presiding over 21st board meeting of AEDB here on Friday.
He said the new alternative and renewable energy policy would supplement the government’s open door initiatives for private investment and attract investors to the sector.
Earlier in a presentation, participants of the meeting said the draft of Alternative and Renewable Energy (ARE) Policy 2011 had been submitted to the Council of Common Interests (CCI) for approval. The draft had been prepared in consultation with all relevant stakeholders and the provincial governments.
They said upfront tariff had been determined initially for the first 1,500 megawatts to be generated by wind mills and would be examined after the target capacity was booked or after December 2012, whichever came first.
Another benefit of the upfront tariff was to encourage investor efficiency, starting from best sites, adopting state-of-the-art technology and accelerating project execution. The upfront tariff regime would lead to a market-based mechanism after production of 1,500 megawatts with the option of auctioning licences for wind power projects.
Published in The Express Tribune, October 16th, 2011.
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