January 24, 2019: Minister for Power Omar Ayub Khan has welcomed the Danish investors for their firm commitment to participate in bidding process for Renewable Energy projects.
He made these remarks during a meeting with a delegation of Danish Renewable Energy investors led by Danish Ambassador to Pakistan Rolf Michael Hay Pereira Holmobe in Islamabad on Thursday.
The bidding for Renewable Energy projects has been planned by the government in 3rd or 4th quarter of current year after approval of the Renewable Energy Policy by competent forum.
Omar Ayub Khan appraised the delegation that Pakistan's upcoming new Renewable Energy Policy is aimed at contracting affordable energy projects at massive scale to increase its share in the overall energy mix from the existing 4 percent to 20 percent till 2025 and 30 percent till 2030.
He said that Power Division is also working on a proposal for consideration of Cabinet for clearance of Renewable Energy Projects. He said the Government is also working on opening the Power Sector as multi-buyer and multi-seller market which will offer huge investment opportunities in all its areas.
The Minister apprised the participants that only utilization of indigenous resources like water, sun, wind and then coal can ensure affordability of power since other sources are largely depended on international markets fluctuations.
Chairman Prime Minister's Task Force on Energy Nadeem Babar who was present during the meeting informed the participants that the Task force is working on finalization of country's energy demand scenario for longer duration of 25 years with full-fledged energy plan for transparent transaction at all levels.
He said that the Government policy in this regard will be based on three principles of availability, affordability and security of energy.
Speaking on the occasion, the Danish Ambassador expressed his satisfaction over the Government plans and said that Danish Investors are closely and keenly following the growing power sector of Pakistan.
He said Danish companies will participate in the Renewable Energy projects bidding process since Danish technologies are amongst top most in the world in these sectors.