By Muhammad Luqman
Investors from Denmark have agreed to participate in bidding process for renewable energy projects , being initiated during third quarter of the year 2019.
“ Renewable energy projects in Pakistan is a great opportunity for foreign investment ,“ says Danish ambassador in Rolf Michael Hay Pereira Holmobe who called on Pakistan’s energy minister Omar Ayub Khan at the head of a delegation of energy investors in the capital , Islamabad, according to a statement of energy ministry.
Pakistan has recently announced incentives for the renewable energy projects including the solar panels production units.
Omar Ayub Khan told the delegation that Pakistan’s upcoming new Renewable Energy Policy is aimed at contracting affordable energy projects at massive scale to increase its share in the overall energy mix by 20% till 2025 and 30% till 2030 from the existing 4%.
He said that Power Division is also working on proposal for consideration of Cabinet for clearance of Renewable Energy Projects which were stalled due to previous government decision in order to gain the confidence of investors in the sector. “Government is also working on opening the Power Sector as muti-buyer and muti-seller market which will offer huge investment opportunities in all its areas,” Omar Ayub Khan said.
The Federal Minister said that only utilization of indigenous resources like water, sun, wind and Thar coal can ensure affordability of power since other sources are largely depended on international markets fluctuations.
The Danish Ambassador expressed his satisfaction over the Government plans and said that Danish Investors are closely and keenly following the growing power sector of Pakistan. He informed that Danish companies will participate in the Renewable Energy projects bidding process since Danish technologies are amongst top most in the world in these sectors.