Business Recorder/21-11-2019

ISLAMABAD: The Federal Minister for Power Division, Omar Ayub Khan said that around 8,000MW and 20,000MW clean, environment-friendly and cheap renewable energy (RE) would be added to the system by 2025 and 2030 respectively under the new Alternative Renewable Energy Policy 2019 approved by the federal cabinet. Addressing a press conference with the Special Assistant to Prime Minister on Petroleum Nadeem Babar, the minister said that the share of clean and green energy would be enhanced to 60-65 per cent of total energy mix by 2030. The policy aimed at substantively reducing electricity tariffs in future, he added. The minister said that the Renewable Energy sector alone has over $40 billion investment prospects, adding that $700 million investment is pouring in 12 wind energy projects. The government initiatives would not only help diminish electricity prices in future, but also lift industrial activities resulting in a surge in exports and increased employment opportunities in the country, he said. Ayub said that under the policy, solar panels and wind turbines would also be manufactured in the country and for which negotiations are under process with foreign companies.