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January 26, 2020

NEPRA awards generation licences to two solar power plants

Business

January 26, 2020

KARACHI: The National Electric Power Regulatory Authority (NEPRA) has awarded generation licences to two solar power plants being setup in Balochistan with a cumulative generation capacity of 112.2MW, a statement said on Saturday.

Licences have been given to P&G Energy (Private) Limited, a subsidiary of of Vogt GmbH Germany, for its 62.2MW solar power plant in Gwadar; and Enertech Boston Solar (Private) Limited, a subsidiary of Kuwait-based Enertech Holding Company Limited, for its 50MW solar power plant in Pishin.

According to NEPRA, the proposed projects will result in optimum utilisation of the renewable energy in Balochistan, which is untapped, resulting in pollution-free power.

“It is pertinent to mention that solar is an indigenous RE resource and such resources should have a preference for the energy security. There is a global trend of reduction in the prices of PV Cells, which results in lower tariffs as is evident from various determinations of the authority,” NEPRA noted in its determination

“These lower tariffs will result in reduction of the overall basket price, which will be beneficial to the public at large.”

The sustainable and affordable energy is a key prerequisite for the socioeconomic development of any country.

In fact, the economic growth of any country is directly linked with the availability of safe, secure, reliable and cheaper energy supply. In view of these reasons, the authority considers that for sustainable development, all indigenous power generation resources, including renewable energy must be developed on priority basis.

Recently, the world market for RE technologies has seen a sharp decline in terms of prices, making these technologies very attractive and cost effective for electricity generation. Further, there are developments in the sector, which are paving the way to address the intermittency issues of these technologies.

NEPRA is of the view that there is a worldwide trend to increase the share of RE in the energy mix of any country, and it is very likely that the government of Pakistan will also be considering to increase the share of RE substantially in the coming years.