RE projects under CPEC stressed

ISLAMABAD: There is need for exploring potential of renewable energy through green financing guidelines of China Pakistan Economic Corridor (CPEC), urged energy experts on Saturday, saying China’s potential in renewable energy (RE) generation could potentially drive a massive shift in Pakistan’s energy sector.

"This can also serve as a viable solution for Pakistan’s energy crisis, which has been deepening over the years," experts from energy and development sector said this during a capacity building workshop on green financing guidelines for CPEC energy projects, organised by Sustainable Development Policy Institute (SDPI).

Speaking on the occasion, managing director Private Power and Infrastructure Board, Shahjahan Mirza, highlighted that currently 400 megawatts (MW) electricity was being generated in the country through rooftop solar panels.

“Soon, 9 off-grid districts in Balochistan will be solarised through public private partnerships,” he informed.

Hasan Daud Butt, CEO, Khyber Pakhtunkhwa Board of Investment & Trade (KP-BOIT) was of view that CPEC could provide stimulus to country’s economic growth. It could be done through infrastructure development, improving intra-national connectivity and by creating opportunities for investment and employment, he stated.

“However, the youth of the country face low skill development and low productivity challenge, which reduces their job prospects in the CPEC projects,” he highlighted. Vaqar Ahmed, Joint Executive Director, SDPI, termed green financing guidelines critical to design a pathway for achieving nationally determined contributions targets of the country.