ISLAMABAD – Power Division is in the process of finalizing IntegratedGeneration Expansion Plan (IGXEP) for the national Grid which will regulatefuture energy demand and supply with most affordable and feasible powerprojects.
This was revealed by Federal Minister for Power and Petroleum, Omar AyubKhan in a meeting with Canadian High Commissioner MS. Wendy Gilmour hereTuesday, said a press release.
Briefing regarding the IGXEP, the Federal Minister said that NationalTransmission and Dispatch Company under the Power Division was working onthe plan.
He said that the plan would ease out future generation with exact demandand supply forecast along with location i.e. where to install the powerplants, nature of fuel (renewable or other sources), availability ofevacuation system and most importantly the affordability of prices.
The Federal Minister while briefing the Canadian High Commissioner on therenewable energy projects and investment potential of Power Sector saidthat the Government was looking forward to increase dependence onindigenous energy resources and bring it upto 80% by the year 2030.
He said that the share of Renewable Energy Alone from current 2500 MW wouldbe increased to 8000MW that was 20% by the year 2025 and 20000 MW approx.that was 30% of total energy mix by year 2030.
He said that together with Hydel Resources, the share of Renewable Energywould become 60% by the year 2030 that would not only increase dependenceon indigenous resources but also result in saving of huge amount of foreignexchange.
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Omar Ayub Khan further informed that Government has for the first timeintroduced competitive bidding for new renewable energy projects that wouldcontribute in bringing down the electricity prices in the country.
He said that Power Sector in its Generation, Distribution and Transmissionsub-sectors offered $ 80 billion market.
Ms. Wendy Gilmour appreciated the plan that Government was pursuing forutilization of indigenous resources for electricity generation. She termedthe plan as “Excellent”. She said that Canadian Investors were keenlyfollowing the Government Policies and considering various options.
Secretary Power Division, Irfan Ali was also present during the meeting.
