‘US to promote new private sector to invest in clean energy generation’

WASHINGTON: The United States intends to promote new private sector to invest in Pakistan’s clean energy generation, transmission and distribution to help the country meet its energy needs, Richard Olson, Special Representative for Afghanistan and Pakistan, has said.
Speaking at the concluding session of the two-day US-Pakistan Clean Energy Business Opportunities Conference, the ambassador said the event was one of the first outcomes of the US-Pakistan Clean Energy Partnership, which Prime Minister Nawaz Sharif and President Obama announced in Washington in October. “The partnership is the next step in our support for Pakistan’s energy sector. We are off to a great start,” he added.
The conference was attended by Minister for Water and Power Khawaja Mohammad Asif and Petroleum Minister Shahid Khaqan Abbasi. The ambassador said that developing Pakistan’s energy sector was one of the top priorities of Prime Minister Muhammad Nawaz Sharif’s government.
Olson said that he was convinced that clean energy solutions, including renewable sources like the wind and solar energy, geothermal, hydro and natural gas, were not only the best hope for resolving Pakistan’s energy crisis but also an assurance that our children could enjoy a cleaner and healthier future.
“Prime Minister Sharif’s attendance this week at the COP21 conference in Paris demonstrates Pakistan’s commitment to doing its part in the global campaign to manage climate change,” he added.
Olson said that clean energy was an integral part of this effort, and Pakistan’s embrace of renewable energy sources could enable it to play a leadership role on global environmental issues.
He said that public investment in energy infrastructure and power generation was essential, adding that the private sector investment in this sector was also crucial. “The more space the private sector has to contribute in the energy sector, the more quickly the energy crisis can be resolved.”
He said the Sapphire Group’s investment in wind power was a great example of public-private partnership in Pakistan’s renewable energy sector. The 50-megawatt Sapphire wind power plant project at Jhimpir was made possible by collaboration between the Pakistan government, private sector investors, OPIC and USAID, and American and multinational companies.
Private corporations from three nations came together and worked swiftly to conceptualise, construct, and complete this renewable power project ahead of schedule, he added.
After 14 months, the power plant was completed, and it began commercial operations on November 23, providing critical electricity to millions of residents of Sindh province. This year, a US company played a critical role in establishing the infrastructure that enabled Pakistan to import liquid natural gas for the first time.
Another US company provided the crucial component for Pakistan’s liquid natural gas-fired power plant deals, a turbine. The focus of the conference was on the tools that are available to help the private sector further unlock Pakistan’s energy potential.
The ambassador said that Prime Minister Sharif’s government had taken many steps over the past two-and-a-half years to improve the investment climate in Pakistan. “Now is the moment to build on the progress that has been made by strengthening the regulatory environment and expanding the space available to the private sector in the energy sector,” he said.
Nothing speaks to the US companies louder than another US company that has had a positive business experience in Pakistan. A number of these success stories are already contributing to Pakistan’s energy sector — more can be cultivated through the US-Pakistan Clean Energy Partnership.