South Korea has planned to invest in solar power projects to produce 300 megawatts of cheaper electricity.
Leading a delegation, Concentrix Solar Chief Executive Officer Dr Choi Moon-sok said this in a meeting with Water and Power Minister Naveed Qamar here on Wednesday.
The CEO said the company would first set up a 50MW project in eight to 10 months and would be generating 300MW in three years. The projects will be both off-grid and on-grid and mostly will be established in Sindh.
In the beginning, he said, the Prime Minister’s House would be converted to solar power, which would be a gift from Korea to Pakistan. The PM House will run on solar power within three to four months and will be off-grid, backed by batteries, he added.
Chandka Medical College, Larkan and Civil Hospital, Hyderabad are already being shifted to solar technology with a Korean loan. Speaking on the occasion, Qamar encouraged investors to invest in solar projects as an upfront tariff will be announced soon.
In other incentives, the government has already exempted solar panels and other related equipment from sales tax and customs duty. It has initiated a solar water pumping project for the agricultural sector and introduced solar water heater with the help of donors.
Qamar assured the delegation that the government would support and facilitate Korean investors willing to pour money into solar power projects.
Published in The Express Tribune, May 3rd, 2012.
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