Renewable energy sector attracts billions in investment

STAFF REPORT ISB: The renewable energy sector has attracted foreign investment of over $3 billion during the last year, indicating investment potential of this sector in the country.

“Pakistan has become a choice investment destination for private investors mainly due the potential, a robust policy framework, lucrative tariff structures and bankable security documents,” said Alternative Energy Development Board (AEDB) Chief Executive Officer Amjad Ali Awan while talking to media.

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He said that detailed resource assessment of wind, solar and biomass was carried out in the country through ESMAPs (World Bank) assistance, he said.

“Ground installations for measuring of solar irradiation have also been made in several parts of the country,” he asserted.

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He revealed that the AEDB has issued over 25 Letters of Interest (LOI) to various solar projects with cumulative capacity 663 megawatts.

He added that these projects would attain commercial operations by 2018.

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