Renewable energy: Sector attracts billions in investment

ISLAMABAD:

The renewable energy sector has attracted foreign investment of over $3 billion during the last year, indicating investment potential of this sector.

“Due to the potential, robust policy framework, lucrative tariff structures and bankable security documents, Pakistan has become a choice investment destination for private investors,” said Alternative Energy Development Board (AEDB) Chief Executive Officer Amjad Ali Awan.

“Detailed resource assessment of wind, solar and biomass was carried out in the country through ESMAP’s (World Bank) assistance,” said Awan. “Ground installations for measuring of solar irradiation have also been made in several parts of the country.

“AEDB has issued over 25 Letters of Interest (LOI) to various solar projects with cumulative capacity 663 megawatts,” said Awan, adding that these projects would attain commercial operations by 2018.

Published in The Express Tribune, December 5^th, 2015.

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