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October 14, 2016

ET Energy to setup solar power plant

Business

 
October 14, 2016

KARACHI: ET Energy Fateh Jang has approached the National Electric Power Regulatory Authority (Nepra), seeking generation licence for a 50MW solar power generation facility proposed to be setup in Attock, Punjab with a cost of $61 million.

ET Energy Fateh Jang is a wholly-owned subsidiary of ET Energy Company Limited, which is a part of the ET Solar Group.

A renewable energy policy has been created by the Pakistan government to encourage the private sector to invest in the development of renewable energy solutions.

While two years of crashing prices for oil, natural gas, and coal triggered dramatic downsizing in those industries, renewables have been thriving. Clean energy investment broke new records in 2015 and is now seeing twice as much global funding as fossil fuels.