LONDON, Oct 22 (APP):British-Pakistani Chief Executive Officer (CEO)/president of PETRA Global Energy Group (United Kingdom,), Sheikh Rehman has called for exploiting rich potential of renewable energy resources of Pakistan to overcome growing energy shortages in the country.
Talking to APP, here on Monday, he said that Pakistan could attract huge investments in energy sector including the alternative and renewable energy resources by further creating conducive investment environment to the investors for the socio-economic development of Pakistan.
Foreign investors were keen to invest in various sectors of economy including energy sector in Pakistan provided
them conducive business environment and facilities, he remarked.
He said that Pakistan could overcome its existing power shortage by exploiting its rich energy resources
including hydel, solar, waste-to-energy wind and other resources.
Highlighting the technology of waste-to-energy from the waste was the process through which, he said that it was the heat generated from the primary treatment of waste or processing of waste into a fuel source.
Sheikh Rehman urged the overseas Pakistanis and other foreign investors to take benefit from the solar, waste-to-energy and hydro generation projects being offered in Pakistan.
He said that waste-to-energy generation has great potential in the world including Pakistan.
He said that his PETRA Energy group has planned to install a 120MW waste-to-energy project in Ghana, while it
could also wanted to make investment in this filed in Pakistan too.
He lauded the services of Alternate Energy Development Board (AEDB) of Pakistan for attracting foreign investments in the renewable energy resources and emphasized for further activating/accelerating the role of the board for the benefit of the country.
He also commended the services of Dr Basharat, former CEO of AEDB, a foreign expert in energy sector, and demanded that he should be re-appointed as its CEO for the benefit of the country.
It may be mentioned here that Alternative Energy Development Board (AEDB) was the sole representing agency of the Federal Government that was established in May 2003 with the main objective to facilitate, promote and encourage development of Renewable Energy in Pakistan and with a mission to introduce Alternative and Renewable Energies (AREs) at an accelerated rate.
The administrative control of AEDB was transferred to Ministry of Water and Power in 2006. The Government of Pakistan has inter alia mandated AEDB to:-
–Implement policies, programs and projects through private sector in the field of ARE
— Assist and facilitate development and generation of ARE to achieve sustainable economic growth,
–Encourage transfer of technology and develop indigenous manufacturing base for ARE Technology,
–Promote provision of energy services that are based on ARE resources,
–Undertake ARE projects on commercial scale (AEDB Act 2010).
The Federal Government established AEDB as a statutory organization by announcing and promulgating the AEDB Act in May 2010. The Act bestowed upon AEDB the authorities and the responsibilities for the promotion and development of AREs.