AEDB signs accords for 560MW renewable energy projects

ISLAMABAD: In view of the vision of the GoP to increase the share of renewable energy to at least 30 percent by year 2030, the Alternative Energy Development Board (AEDB) has executed Implementation Agreements with 11 IPP wind power projects on behalf of the government.

The cumulative capacity of these wind projects is 560 MW and these projects would provide more than 1.8 billion units of clean energy annually. An investment of approx. $700 million (Rs108.9 billion) will be brought into Pakistan as soon as these projects achieve the financial closing next week. These projects are envisaged to come online by year 2021.

During the signing ceremony, AEDB CEO Dr Rana Abdul Jabbar appreciated the efforts made by the private sector in bringing the clean & cheaper electricity to the consumer of Pakistan. He was of the view that the increased share of renewable energy in the overall generation-mix will not only bring down the overall basket tariff but will also help in reducing the import bills of Pakistan. Further, the huge investment coming in the field will also help in achieving the economic growth of Pakistan.