Pakistan’s government is fervently advancing the cause of Alternative Renewable Energy (ARE) technologies, with a specific focus on solar power.
Pakistan, working with the US Agency for International Development (USAID) via the Power Sector Improvement Activity (PSIA), has arranged a high-profile roadshow in Dubai as a calculated attempt to support its renewable energy sector. The objective is to attract possible investors for a large-scale 600 MWp photovoltaic (PV) solar power project situated near Kot Addu, Muzaffargarh.
Pakistan’s government is fervently advancing the cause of Alternative Renewable Energy (ARE) technologies, with a specific focus on solar power. With the remarkable technological strides in solar energy and its cost plummeting over the past decade, solar power has emerged as one of the most economical sources of energy on a global scale.
The escalating prices of oil, liquefied natural gas (LNG), and coal in the international markets have escalated the costs of electricity generation through imported fuels. This has been a strain on Pakistan’s foreign exchange reserves. To counteract the repercussions of soaring conventional fuel prices, the Pakistani government has greenlit various initiatives under the Framework Guidelines for rapid solar PV deployment in 2022.
One such initiative is geared towards replacing costly imported fossil fuels with solar PV-based power projects, primarily executed through competitive bidding. The maiden 600 MWp solar PV undertaking under this initiative is slated for development in Kot Addu, Muzaffargarh, Punjab through an international competitive bidding process.
The call for bids has been disseminated through local and international newspapers, and private sector investors and stakeholders are being apprised of the opportunity.
Recognizing the magnitude of this first stride towards augmenting Renewable Energy (RE) in the national grid and meeting Pakistan’s ambitious RE generation targets for the next 8-10 years, it’s deemed prudent to present it as an international event. This will enable major global energy players to participate.
In alignment with this vision, the Private Power and Infrastructure Board (PPIB), in conjunction with the Power Division, has orchestrated a Roadshow in Dubai, UAE. This event has two primary objectives: to market Pakistan’s inaugural RE Project for international competitive bidding, i.e., the 600 MWp solar PV project in Kot Addu, Muzaffargarh, Punjab, and to promote energy investments in Pakistan’s power sector, especially in renewable resources.
The event is anticipated to draw key energy players, international financial institutions, major Multi-National Companies (MNCs), investment banks, equipment suppliers, contractors, private investors, government officials, and other pertinent stakeholders. Participation from the Middle East and South East Asia is anticipated, along with identified and targeted potential investors from the US and the European Union.
Sources indicate that USAID and PSIA have given their preliminary agreement to support the event, covering the major expenses. Any additional expenses, if required, will be met by the PPIB.
Attendees at the proposed Dubai Roadshow include GoP delegates Jameel Ahmad, Governor State Bank of Pakistan; Waseem Mukhtar, Chairman NEPRA; Shah Jahan Mirza, Managing Director PPIB; and Rihan Akhtar, Chief Executive Officer, CPPA-G.