KARACHI: Pakistan’s energy crisis is a complex issue that affects daily life badly. The causes included geopolitical issues, natural disasters, rising demand, and infrastructure limitations. However, there is hope for a sustainable solution through renewable energy integration and privatisation of Distribution Companies (Discos).
In a recent webinar, K-Electric's CEO, Syed Moonis Abdullah Alvi, shared the company's strides in adding 640 MW of renewable energy capacity to the local grid. He stated, “In the last two to three years, we have enhanced our footprint by around 0.2% to 0.3%.”
Alvi also mentioned that the company aims to reach a generation target of 30% renewable by 2030, reducing reliance on imported fuel as part of its 7-year investment plan.
Alvi expected that by 2030, KE’s projected demand will reach 5000 MW alongside a growing customer base expected to reach approximately 5 million. He said, “This is a relatively new domain, renewable energy, for us to function in, but we are committed to making strides within it at as practical a cost as possible.”
Alvi noted that privatising distribution companies has been demonstrated as the most effective path forward, and investments in solar will simply be enhancements to the existing power system.
He also mentioned that KE filed its requirements with regulators for generating power from solar and wind sources two to two-and-a-half years ago.
Alvi believed that Pakistan's power mix is probably among the best in the world. Renewable energy will be added to the grid through competitive bidding, and the company has held a pre-bid conference and issued advertisements for pre-qualifications.
Alvi expressed hope for the future, saying, “It is my hope that even in the future, once the industry becomes privatised, that the focus remains on the tenets of sustainability and renewable power.”
The webinar concluded with a unanimous agreement on the need for cooperation and alignment among all stakeholders to address Pakistan's energy challenges. The shared goal is to create a sustainable and resilient power industry, ensuring a bright and green energy future.
Copyright Business Recorder, 2024
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