Prime Minister Shehbaz Sharif has given in-principle approval for setting up 2000 MW solar power projects in the public sector.
In this connection, a meeting was held here on Thursday to discuss the transformation of fuel-powered power plants to solar energy.
The meeting was apprised that the work to select the location for the new solar-powered power plants in the country has been started. In this regard, a place near Muzaffargarh has also been identified where a 600 MW solar-powered power plant will be constructed.
The meeting was also informed that the framework and tariff for investment in the solar energy sector is being worked-on. In this regard, National Electric Power Regulatory Authority (NEPRA) is in consultation with other organizations. Alongside, the details of the Investor’s Conference, held on 14th September, were also shared with the participants.
PM, while speaking on the occasion, highlighted that solarization projects of the incumbent government will eradicate Pakistan’s dependence on expensive fuel-fired projects, ultimately saving foreign exchange reserves. He also mentioned that the government is looking to develop solar projects of 10,000 MW in the country.
He highlighted that under the government’s solarization plan, tube wells meant for agricultural activities across the country would also be shifted to solar energy on a priority basis.
PM was of the view that solar energy’s utilization could aid in solving the inherent problems in power systems, including line losses, increase in circular debt, and theft of electricity. He also shared that the government will provide a sovereign guarantee to the companies investing in the solar energy sector.