In a groundbreaking move, the Sindh government, in collaboration with the World Bank, has unveiled plans to invest $100 million in renewable energy initiatives, focusing on solar and wind power. This strategic partnership aims to generate approximately 300 megawatts (MW) of electricity, targeting the reduction of greenhouse gases and the mitigation of natural disaster impacts in Pakistan.
Seminar Highlights: ‘Significance of Renewable for Karachi & Export Industry: Cost of Inaction’
During a seminar held in Karachi, titled ‘Significance of Renewable for Karachi & Export Industry: Cost of Inaction,’ Mehfooz Qazi, Director of Alternative Energy for the Sindh Government, shared comprehensive details of this collaboration. The seminar, a joint effort by Renewables First and the Policy Research Institute for Equitable Development (PRIDE), emphasized the urgency and importance of sustainable energy solutions.
Expanding Horizons: Diverse Projects for Low-Cost Energy Solutions
In addition to the World Bank-funded projects, the Sindh government is progressing on ambitious plans, including the setup of 500 MW solar power projects, 400 MW hydrogen power projects, and waste-to-energy projects. These initiatives form part of a broader strategy to provide low-cost energy solutions, addressing the country’s ongoing struggle with inflation.
Strategic Alliances: Affordable Land and Collaborations with K-Electric Energy
Mehfooz Qazi highlighted the government’s policy to offer affordable land for renewable energy projects and emphasized ongoing collaborations with K-Electric, Karachi’s primary electric supply company. K-Electric’s establishment of two wind energy projects in the Hub area and utilization of the wind corridor in Gharo further solidifies the commitment to sustainable energy development.
Analyst Insights: Shifting Focus for Substantial Savings
Insights from Hammad Ali, an analyst at Renewables First, emphasized the potential savings of up to $4.51 billion over seven years if K-Electric shifts its focus from thermal power generation to renewable sources. The current reliance on thermal power has resulted in significant financial losses, prompting a call for strategic transitions to renewable energy adoption.
Critical Perspectives: Advocacy for Planning and Transparent Market Mechanism
Former NEPRA chairman, Tauseef Farooqi, criticized the lack of planning in Pakistan’s power sector and advocated for a competitive, transparent market mechanism under the Competitive Trading Bilateral Contracts Market Programme. These perspectives highlight the need for strategic planning and transparent market mechanisms in the country’s power sector.
Global Pressures and Urgency: Net Zero Pakistan’s Perspective
Somanul Haq, Programme Director of Net Zero Pakistan, discussed the pressure on Pakistan’s export industry from global supply chains and the increasing demand for Renewable Energy Credits (RECs). This discussion emphasized the urgent need for sustainable energy solutions to align with global standards and demands.
