KARACHI: K-Electric (KE) has showcased its efforts to establish 640 MW of renewable energy across its service territory, aiming to achieve a 30 percent share of renewable energy generation in its mix by 2030, the company said on Monday.
In a roadshow attended by about 100 local and international institutions, KE highlighted its vision to provide affordable and sustainable energy to its growing customer base. While Pakistan contributes less than 1 percent towards global carbon emissions, a combination of macroeconomic and environmental factors is accelerating the energy sector’s increased induction of renewable energy which would simultaneously enable access to affordable and sustainable energy for a growing customer base.
The governments of Balochistan and Sindh are collaborating with KE to allocate land for its solar projects with capacities of 150 MW and 270 MW respectively. In addition, a 220 MW hybrid (wind and solar) project at Dhabeji, Sindh is also part of the bidding program.
Since privatisation, KE has invested heavily in driving efficiency across its value chain, providing the impetus for Karachi and adjoining areas to grow into a bustling megalopolis. In this period, KE has reduced transmission and distribution losses by half from 34 percent to 15 percent, while doubling its customer base and power consumption.
"Looking to FY30, KE predicts a 30 percent growth in its customer base driving a power demand of 5,000 MW, which it intends to fulfill with induction of power based on indigenous fuel and renewable sources such as solar, wind, and hydel," the company said in the statement. Moonis Alvi, KE’s CEO said the local and international interest in the company's projects is a testament to KE’s acceptability as a power purchaser.
"We are committed to taking care of our responsibility, and to support the government in balancing the sustainable induction of energy with its long-term affordability," Alvi said. "In this regard we are grateful to NEPRA for their approvals on these projects, and the support from the Governments of Balochistan and Sindh.”
Chief Strategy Officer at KE, Shahab Qader Khan said the upcoming projects will not just prepare the company for the future but define it. "We foresee robust demand and growth in our service area, necessitating the addition of renewable energy projects. With a 100-year legacy behind us, we look forward to the next 25 years with our partners to be marked with many milestones.” He shared."
These 640 MW projects are incorporated in KE’s Power Acquisition Programme (PAP) which showcases the long-term addition of efficient electricity into the generation mix. This is complemented by a $2 billion investment plan in transmission and distribution infrastructure, which entails the use of modern technology and equipment to position KE as a utility of the future.