ISLAMABAD – Minister for Power Omar Ayub Khan has invited the DanishCompanies for investing in manufacturing of solar panels and wind turbinesin Pakistan.
He said this in meeting with Ambassador of Denmark Rolf Holmboe who calledon him in Islamabad on Friday.
The Minister said Pakistan’s New Renewable Energy Policy will bring in goodopportunities for their good returns due to transparent policies of the PTIgovernment.
Omar Ayub Khan said the policy is unanimously approved by the AlternativeEnergy Development Board where all provinces have highest levelrepresentation.
The Minister while acknowledging the lead role of Denmark in clean andgreen energy at the global level said that Pakistan too has embarked upontaping huge indigenous potential of renewable energy.
The new Renewable Energy Policy, which will soon be presented to Council ofCommon Interest for its final approval and implementation, has setambitious targets in this regard.
He said that by year 2025 the current share of 4% of Renewable Energy inoverall energy mix will be enhanced to 20% while by 2030 a target ofincreasing the same to 30% has been set in the policy, which is around20000MW.
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He said that government is expecting gradual decrease in the electricityprices as the new projects with lowest per units cost starts its production.
Omar Ayub Khan apprised the Danish Ambassador that with lowering ofelectricity cost businesses are bound to take benefit hence overalleconomic activity will get a boost with thousands of new job creation.
The Danish Ambassador while appreciating the government’s commitment toraise the share of renewable clean and green energy share to 60% includinghydel component, said that the new policy is more transparent as itprovides a level playing field for all.
He said that Denmark is ready to offer capacity building modules forPakistani expert in the renewable energy. He informed the Minister thatDenmark is getting renewable energy at a very low per unit price. Hefurther informed the Minister that Danish companies are closely followingdevelopments in Pakistan in the field of renewable energy and they areready to take part in the competitive process.
