Minister for Power Division Mr. Ali Zafar termed renewable energy as the future for Pakistan’s electricity sector and emphasized on the need towards sustainable development of renewable energy sector in the country.
He said this during a briefing on the renewable energy sector at Alternative Energy Development Board (AEDB) here on Wednesday. Wind and solar power are now aggressively being deployed throughout the world and Pakistan needs to tap its huge resources of wind and solar since these resources of power generation are not only environmental friendly but they are now amongst the most economical sources of power generation as well, he said.
Increasing share of renewable energy will lessen Pakistan’s dependence on imported fuels thus ensuring energy security and saving foreign exchequer, he added. The minister resolved that the bottlenecks impeding the development of renewables shall be removed.
CEO AEDB briefed that the installed capacity of renewable energy will reach 2000 MW by the end of this year. He further apprised that significant investment is available in the wind and solar power sectors and 2000 MW capacity can be added through these technologies in the national grid at tariffs lower than all other sources in next 2-3 years, which can also replace the expiring thermal power plants.
The Minister directed to initiate RE zoning for identification of new zones for development of renewable energy projects in the country.
The Minister also stressed on the need to promote wind and solar power based net-metering in different segments of consumers especially amongst the commercial and industrial setups. He directed to engage Chambers of Commerce for initiating net metering based installations in commercial and industrial sectors. In order to promote net-metering amongst general consumers and making it within their financial reach, the Minister directed to launch concessional consumer financing through National Bank of Pakistan under the State Bank of Pakistan RE Re-financing scheme.
The Minister appreciated the initiative of establishing Pakistan German Renewable Energy Forum (PGREF) to promote renewable energy applications at all levels, offer a forum for interested stakeholders from Pakistan and Germany for the exchange of knowledge, promote cooperation, partnerships, training and education on RE&EE between the public and private sector and development of policies, projects, businesses and activities.
The Minister informed that the MOU for establishment of PGREF would be signed very soon with the German side.