New renewable energy policy to help reduce carbon foot prints: Omar Ayub

ISLAMABAD, Mar 13 (APP):Pakistan’s new renewable energy policy would help reduce carbon footprints drastically by increasing its share to 30% from existing 4% by year 2030, Federal Minister for Power Omar Ayub Khan said Wednesday.

During a meeting with European Union Ambassador Jean-Francois Cautain here, the minister said, and together with hydel resources the clean and green resources share for electricity generation would cross 60%. Chairman Prime Minister’s Task Force on Energy, Nadeem Babar was also present during the meeting.

The minister apprised that government had planned increasing share of renewable energy to 30% till year 2030.

The share of hydel component in energy mix is also near 30% that will mean that by year 2030, more than 60% of the country’s electricity will be from clean and green resources.

Pakistan is going to drastically reduce the carbon foot prints with these measures, he added.

He further apprised that in April this year, seminar on energy conservation was being planned, thus on one side the government was promoting clean and green energy while on other the energy conservation which would help to further reduce the carbon emissions.

Pakistan per capita energy consumption pattern is indicating high demand in the near future offering huge investment opportunities in power generation, transmission and distribution with competitive return on investment.

Omar Ayub Khan said that Pakistan’s per capita energy consumption was around 500 KW almost 700 KW less than the region, while 2400 KW less than China and more than 7000KW less than developed countries.

He added that this shows that the demand would grow exponentially not only of the existing consumers due to better economic growth but also due to the economy’s take off. This offered best opportunities to the investors to gain maximum return, he said.

Nadeem Babar informed the Ambassador regarding the four pillars of energy policy of the present government that includes availability, affordability, sustainability and responsibility.

The EU Ambassador appreciated the steps taken by the present government. He said that investors in EU were closely following Pakistan energy markets.

He said that EU was organizing renewable energy workshop in May for Pakistan.

He appreciated the government efforts to reduce carbon footprints.