Canadian investors keenly following PTI govt policies

Power minister briefs envoy on renewable projects and investment potential of sector

ISLAMABAD: The Power Division is in the process of finalising Integrated Generation Expansion Plan (IGXEP) for the national grid, which will regulate future energy demand and supply with most affordable and feasible power projects, said Federal Minister for Power Omar Ayub Khan.

During a meeting with Canadian High Commissioner Wendy Gilmour on Tuesday, the minister informed that the National Transmission and Dispatch Company under the Power Division is working on the plan

He said that the IGXEP will ease out things for future generation with exact demand and supply forecast along with location that is where to install the power plants, nature of fuel, and availability of evacuation system and most importantly the affordability of prices.

The federal minister briefed the Canadian high commissioner on the renewable energy projects and investment potential of the power sector. He highlighted that the government is looking forward to increase dependence on indigenous energy resources and bring it up to 80% by the year 2030.

He said that the share of renewable energy alone will be increased from the current 2,500MW to around 8,000MW; which is 20% by the year 2025 and 20,000MW, which is 30% of the total energy mix by the year 2030.

He said that together with hydel resources, the share of renewable energy will become 60% by the year 2030, which will not only increase dependence on indigenous resources but will also result in saving huge amounts of foreign exchange.

Khan further added that the government has for the first time introduced competitive bidding for new renewable energy projects that will contribute to bringing down the electricity prices in the country. He said that the power sector in its sub-sectors - generation, distribution, and transmission - offers an $80 billion market.

The Canadian envoy appreciated the initiative that the government of Pakistan is pursuing utilisation of indigenous resources for electricity generation.  

Published in The Express Tribune, February 5^th, 2020.

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