Power Division is in the process of finalising Integrated Generation Expansion Plan (IGXEP) for the national grid which will regulate future energy demand and supply with most affordable and feasible power projects.
This was revealed by Federal Minister for Power and Petroleum Omar Ayub Khan in a meeting with Canadian High Commissioner Wendy Gilmour at his office, here on Tuesday.
Secretary Power Division Irfan Ali was also present during the meeting.
Briefing the High Commissioner regarding the IGXEP, the minister said that National Transmission and Dispatch Company under the Power Division is working on the plan.
He said that the plan will ease out future generation with exact demand and supply forecast along with location ie where to install the power plants, nature of fuel ie renewable or other sources, availability of evacuation system and most importantly the affordability of prices.
The minister while briefing the High Commissioner on the renewable energy projects and investment potential of Power Sector said that the government is looking forward to increase dependence on indigenous energy resources and bring it up to 80% by the year 2030.
He said that the share of Renewable Energy Alone from current 2500MW approx. will be increased to approx. 8000MW that is 20 percent by the year 2025 and 20000MW approx. that is 30 percent of total energy mix by year 2030. He said that together with Hydel Resources, the share of Renewable Energy will become 60% by the year 2030 that will not only increase dependence on indigenous resources but will also result in saving of huge amount of foreign exchange.
The minister further informed that government has for the first time introduced competitive bidding for new renewable energy projects that will contribute in bringing down the electricity prices in the country. He said that power sector in its generation, distribution and transmission sub-sectors offers $ 80 billion market.
Gilmour appreciated the plan the government of Pakistan is pursuing for utilization of indigenous resources for electricity generation. She termed the plan as "excellent". She said that Canadian Investors are keenly following the government policies and considering various options.
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