The government is planning to invest in clean energy. Wind turbines and solar panels are the next big source of energy in the near future but its high costs are making people reluctant to invest.
Pakistan’s head of energy task force said,” we are planning to increase its renewables by more than four times by adding as much as 7 gigawatts to bring its total to 8-9 gigawatts by 2025”. Through this investment, Pakistan will be able to expand its capacity to about a fifth of its total output. He also added that “the new energy policy that targets lifting the country’s total generation capacity by 40% to 42-43 gigawatts is expected to be approved within a month”
Pakistan has been able to cover its deficit by adding 10 gigawatts of volume over the past six years, in order to eradicate the shortage of electricity in metropolitan cities. These projects were financed by China as part of its belt and road initiative.
The government is planning to auction the tender for building renewable capacity yearly, starting from December. It was reported that last year 41% of power generation was from imported fuels, which resulted in higher costs.
Through this initiative, Pakistan will be able to reduce its cost of imported fuels.
