Govt actively promoting development of renewable energy projects in country
November 14, 2022
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November 14, 2022: The government is actively promoting and facilitating the development and deployment of renewable energy projects in the country to meet electricity demands of consumers.
According to Power Division, the development of renewable energy based power generation projects is being pursued in Independent Power Producers mode through private sector investors under government policies.
It said that a total of 51 renewable energy projects of 2634 megawatt capacity have been completed and are supplying electricity to the national grid. Several other initiatives are also being taken for fast-track development of renewable energy projects.
The Power Division said the government is encouraging utilization of solar energy technology at consumer ends across domestic, commercial, and industrial sectors.
It said in order to facilitate the domestic consumers in installation of solar system, the government has already set in place a financing scheme for renewable energy through the State Bank of Pakistan. As per the scheme, concessional loans at the rate of six percent interest are being provided by the commercial banks under different categories.