Pakistan is expected to see a sharp jump in operational solar power capacity over the next few years as several project developers have signed pacts to set up projects.
The Alternative Energy Development Board (AEDB) has 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.
The largest of these projects will come up at the Quaid-e-Azam solar power park. The project currently has 100 MW operational capacity. Apollo Solar Pakistan, Crest Energy Pakistan and Best Green Energy Pakistan are working on 100 MW solar power capacity each. These projects are expected to be commissioned by the end of this year. The total capacity of Quaid-e-Azam solar power park will thus increase to 400 MW against planned capacity of 1,000 MW.
Six other developers have been issue letters of support for development of products with cumulative capacity of 47.84 MW. The ADEB has also issued letters of intent for development of 25 projects with combined generation capacity of 663 MW. These projects are expected to be operational by 2018.
Additionally, the government of Punjab province has also issued letters of intent for projects with 600 MW capacity, of which 300 MW capacity has already secured financing.
Several European and Chinese companies have already invested in Pakistan’s renewable energy market. Foreign investors poured over $3 billion into the renewable energy sector in Pakistan over the last year.