Renewable energy share to be raised to 30pc by 2030: Omar

ISLAMABAD: Federal Minister for Power Omar Ayub Khan has said the government is working on renewable energy policy to harness immense potential in solar, wind and hydel resources and have good opportunities for investments.

Government is considering increasing the share of renewable energy in the overall energy mix to 20 percent till year 2025 from the existing four percent share. It would further be increased to 30 percent by year 2030, having vast potential of investment and earnings on it.

The minister stated this during his meeting with Chinese Ambassador Yao Jing in Power Division. Secretary Power Irfan Ali was also present in the meeting.

Omar Ayub while acknowledging the important position of CPEC energy projects said that these are symbol of deep rooted relations between the two countries based on mutual respect. He said that these relations are further strengthening with each passing day. He said that Power Division is extending all out support to the Chinese and other investors in the power sector and their various issues are being resolved on priority basis.

While talking about huge investment potential in the solar panel market, smart meters and other distribution and transmission system equipment including anti-fog insulators in Pakistan, the minister said that Chinese investors can take full benefit of these opportunities.

The Chinese ambassador while reiterating China’s commitment to further boost the existing ties between the two countries said that power sector has been the prime and most important areas of CPEC. He said that Chinese investors are closely following Pakistan’s power sector policies and are keen to invest in the renewable energy.

The minister also apprised the Chinese ambassador about the current anti-theft campaign by the government which is gaining very good results. He also briefed him regarding initiation of Smart Meters projects in various distribution companies and invited the Chinese investors for manufacturing the same in Pakistan.