ISLAMABAD, Nov 20 (APP):Minister for Power Division Omar Ayub Khan on Wednesday said that around 8,000MW and 20,000MW clean, environment-friendly and cheap Renewable Energy (RE) would be added to the system by 2025 and 2030 respectively under the new Alternative Renewable Energy Policy 2019 approved by the federal cabinet.
Addressing at a press conference with Special Assistant to Prime Minister on Petroleum Nadeem Babar here, the minister said that share of clean and green energy would be enhanced to 60-65 per cent of total energy mix by 2030.
The policy aimed at substantively reducing electricity prices in the future, he added.
The minister said that the RE sector alone has over $40 billion investment opportunities adding that $700 million investment was pouring in 12 wind energy projects.
The government initiatives would not only help reduce electricity prices in future, but also boost industrial activities resulting surge in exports and create employment opportunities in the country, he said.
Omar said that under the policy, solar panels and wind turbine would also be manufactured in the country and for which negotiation was under process with foreign companies.
He said the Pakistan Muslim League Nawaz (PML-N) government had killed all RE projects in order to pay way for setting up expensive LNG projects.
Regarding power sector performance, the minister said, the power sector revenue jumped to record Rs229 billion. Giving the breakup, he said out of total, Rs111 billion was collected through system efficiency by curbing power theft and remaining Rs118 billion through tariff determination.
Nadeem Babar said for the first time, the RE policy draft was prepared after consultation with all stakeholders including public, experts, provinces and international agencies. It would be one of the best RE policy as cost plus tariff and upfront tariff etc has completely been eliminated adding that contract would be awarded through open and transparent bidding, he said.
He said special focus was also given in the policy for manufacturing of solar panels and wind turbine locally. As many as three companies including Danish has shown interest in manufacturing wind turbine in Pakistan, he added.
He said the government would identify point or place for setting up the projects.
Replying to a question, the minister said the RE policy would be sent to Council of Common Interest for endorsement and it aimed at reducing electricity prices.
To another question, he said around 80 per cent feeders have been cleared from power pilferage and work for remaining feeders were under process.
No amount was paid for settlement of Karkey power plant issue adding that the disputed was resolved with the help of Turkish President Recep Tayyip Erdogan, he said.
To a question, Nadeem Babar said that no capacity charges would be paid to RE projects.
Secretary Power Division Irfan Ali was also present on the occasion.