The federal Minister for Energy (Power Division), Omar Ayub Khan, hasannounced the financial closing of four solar projects with a cumulativecapacity of 250 MW.
He addressed the financial closing ceremony and said,
We celebrate the achievement of the financial closing of the 100MW solarproject of Zhenfa Energy Ltd. and 150MW (3×50 MW) solar projects by SCATECand NIZAM Energy.
Minister Khan revealed that the cost-per-unit of one project is Rs. 3.73and the cost-per-unit of the remaining three is Rs. 3.66.——————————
He also announced that a $148 million investment is being made in Pakistandue to the projects, and claimed that it will result in the production ofmore than 945 gigawatt-hours (GWh) of electricity annually.
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The minister opined that renewable energy technologies have grown in thelast decade, and expressed hope for the country to be able to produce cheapelectricity by incorporating clean and cheap renewable energy (RE) thatwould aid its sustainable economic growth.——————————
The minister said that even though Pakistan has utilized the immensepotential of renewable energy resources, the development has been slow asno targets had been set in the initial policy.
He also commended the companies and the Alternative Energy DevelopmentBoard (AEDB) for achieving the financial closing of four solar projects ina short time.
