Federal Minister for Water and Power, Dr Musadik Malik has said that Pakistan has great potential of renewable energy and managers should formulate such policies to attract the investors in this sector by facilitating them. The Minister said that Alternative Development Energy Board (AEDB) should play its role as one window facilitator and to work for bringing investment for the renewable energy projects.
He made these words while presiding over 27th board meeting of AEDB here on Thursday. The Board approved six-month extension in letter of support to M/s Hydro China Dawood power. The Board also decided to set up a committee to negotiate with Government of Sindh regarding an issue of sub-lease of allocated land for 50 MW wind project.
The Minister also asked AEDB to take up matter with Nepra on up front tariff policy for wind project especially on capacity factor recently announced by Nepra. On the proposal for extension of LOIs to all the investors for fast track development of wind project, the meeting directed AEDB to submit the proposal on case-to-case basis with valid reasons in the next sitting of the Board.
Earlier, the CEO AEDB informed the meeting that the Cabinet has extended the renewable energy policy for another five years. ECC has also approved the policy framework for co-generation Bagasse Based Energy projects. The Minister while concluding the meeting also asked the CEO, AEDB, to give a detailed presentation on co-generation of bagasse energy projects so that LoIs to be issued to interested investors. The Minister stressed the need to link the performance for promotion of employees and ask for submission of AEDB regulations to the next meeting of the Board on 7th May 2013.-PR