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World Bank and IFC to assists in renewable energy projects in KP, Balochistan

World Bank and IFC to assists in renewable energy projects in KP, Balochistan

Government of has taken decision to call competitive bidding for the renewable energy power generation in future

World Bank and International Finance Corporation (IFC) are fascinated to assists the Wind and Solar Power Generation projects Khyber Pakhtunkhwa and Balochistan.

Pakistan government is working on the proposals to set up a renewable energy institute to identify the country’s energy potential and launch policy initiatives to capitalize on the resources.

A high-level was held in Islamabad, where Federal Minister for Power Division Sardar Awais Ahmed Khan Leghari met with a World Bank delegation including Vice-President WB for South Asia Annette Dixon and International Finance Corporation Vice-President for the region Snezana Stojakovic.

Federal Minister for Power Division further said Power Division is also working on indigenous resources mobilization for the establishment and sustainability of the Renewable Energy Institute.

IFC Vice President Snezana Stoijkvic said that IFC was keen in tapping the renewable resources of Wind and Solar Power Generation in Balochistan and Khyber Pakhtunkhwa and in this regard their teams would coordinate with the Power Division and all other stakeholders.

The delegation informed that amendments in the  NEPRA Act is in Upper House of the  Parliament and with its finalization, the power sector will be more open for the investor kicking the electricity as commodity trade at the distribution level.

The Minister also invited the World Bank and IFC to consider investing in laying the ABC cables in the distribution network, which will greatly help in reducing the line losses and controlling theft.

Ms Annette Dixon also expressed her organization’s willingness in supporting the power division in the formulation of a new energy policy and national electricity plan as well as the modernization of transmission lines.

According to energy experts in 2018 power production is expected to go up to 33,124MW, the share of hydroelectric power will be 30%, furnace oil 18%, LNG 16%, local natural gas 12%, imported coal 10%, renewable energy 8%, nuclear power 4% and local coal 2%.

Minister for Power Division Awais Leghari also invited the World Bank and IFC to consider investing in laying the ABC cables in the Distribution network which will greatly help in reducing the line losses and controlling theft. He said that the payback time for ABC cables in just 9 months.

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