ISLAMABAD, Oct 26 (APP): Caretaker Federal Minister for Energy, Muhammad Ali opened the proceedings of the roadshow in Dubai for a 600 MW solar PV project in Punjab.
In his virtual speech, he informed the participants of the roadshow about the investment opportunities in Pakistan and the measures the government is taking to increase the share of renewable energy in the overall generation mix, said a press release issued here Thursday.
He said the government is also taking concrete steps to reduce the existing circular debt, outsourcing the management of Distribution Companies, tracking theft, recovering electricity bills, and strengthening transmission/distribution networks.
The roadshow comprised a high-level delegation led by the Managing Director, PPIB which included Chairman NEPRA, CEO CPPA and officials from USAID.
This is the first project planned to be developed in Kot Addu, Punjab through an international competitive bidding process under the government initiative of substituting expensive imported fossil fuel.
The Project will not only help reduce the overall generation cost but also help to arrest the drain of precious foreign exchange spent on the import of fossil fuel. A total of 6000MW is targeted to be developed under the said initiative.
The roadshow was well participated by both local and international investors, lenders, manufacturers, suppliers, contractors and power sector consultants.
