PHOTO: REUTERS
It was revealed in a meeting between a delegation of Vestas, led by Danish Ambassador Rolf Holmboe, and Federal Minister for Power and Petroleum Omar Ayub Khan. Special Assistant to Prime Minister on Petroleum Nadeem Babar and Power Division Secretary Irfan Ali were also present in the meeting.
The delegation was briefed about the targets set in the new renewable energy policy in order to boost the share of renewable resources from 4% to 30% and it also ensured transparency by introducing a competitive bidding regime.
The minister was told that the Danish company had decided to explore the possibility of establishing a manufacturing facility in Pakistan along with transfer of technology.
Jhimpir project starts producing wind energy
The minister outlined the broad parameters of the new renewable energy policy and said by 2030 the country would have around 20,000 megawatts from the renewable resources.
Khan emphasised that not only local utilisation of the renewable energy-related machinery - like wind turbines - would be a profitable investment for global companies, but Pakistan could also serve as a base for exporting the machinery to different countries of Central Asia and Africa, where a huge untapped potential existed for renewable resources.
He highlighted that Pakistan offered special incentives for setting up renewable energy equipment manufacturing units. At the same time, Special Economic Zones also provide investor-friendly packages, which can be explored by the Danish company.
The minister lauded Danish envoy Holmboe for showing keen interest in boosting clean and green energy production in Pakistan.
Published in The Express Tribune, February 7th, 2020.
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