The Pakistan government is continuously making efforts to attract foreign investment in the renewable energy sector.
The Balochistan government has signed a Memorandum of Understanding with Kuwait-based Company Ener Tech to set up solar power plants ranging from 50 MW to 500 MW in Quetta, Baluchistan. The projects would be set up in phases.
There are vast prospects of making investment in energy, livestock and other sectors in Baluchistan and EnerTech is keen to make investments in these sectors, Ener Tech Chief Executive Abdullah Almatari said.
This announcement came just a week after Pakistan’s National Electric Power Regulatory Authority (NEPRA) published the new Feed-in-Tariff (FITs) for large-scale PV and wind installations.
The Pakistan’s government strategy to attract foreign investment in the renewable energy sector particularly solar has so far yielded positive results. According to the Alternative Energy Development Board (AEDB) foreign investors poured $3 billion over the last year into the renewable energy sector in Pakistan. Majority of this investment came from China.
The Alternative Energy Development Board (AEDB) recently reported that as many as 35 solar PV power projects are at various stages of development. These projects shall have cumulative installed capacity of 1,111 MW. Also, according to AEDB, 40 wind energy projects are in various stages of development and are likely to contribute around 2,050 MW capacity to the national grid by 2017-18.