Pakistan launches four new solar projects with capacity of 250 MW

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Pakistan launches four new solar projects with capacity of 250 MW

The federal Minister for Energy (Power Division), Omar Ayub Khan, has announced the financial closing of four solar projects with a cumulative capacity of 250 MW.

He addressed the financial closing ceremony and said,

We celebrate the achievement of the financial closing of the 100MW solar project of Zhenfa Energy Ltd. and 150MW (3×50 MW) solar projects by SCATEC and NIZAM Energy.

Minister Khan revealed that the cost-per-unit of one project is Rs. 3.73 and the cost-per-unit of the remaining three is Rs. 3.66. ------------------------------

He also announced that a $148 million investment is being made in Pakistan due to the projects, and claimed that it will result in the production of more than 945 gigawatt-hours (GWh) of electricity annually.

The minister opined that renewable energy technologies have grown in the last decade, and expressed hope for the country to be able to produce cheap electricity by incorporating clean and cheap renewable energy (RE) that would aid its sustainable economic growth. ------------------------------

The minister said that even though Pakistan has utilized the immense potential of renewable energy resources, the development has been slow as no targets had been set in the initial policy.

He also commended the companies and the Alternative Energy Development Board (AEDB) for achieving the financial closing of four solar projects in a short time.