Germany keen to invest in renewable energy power projects

ISLAMABAD: Germany has expressed its keenness to invest in the renewable energy power projects in Pakistan.

Ambassador of Germany to Pakistan, Dr. Michael Koch on Friday called on the Federal Minister for Water and Power, Raja Pervez Ashraf and discussed various matters of mutual interest and investment opportunities in water and power sector in Pakistan to enhance bilateral cooperation between the two countries.

The Minister while welcoming the ambassador briefed him on the current energy situation and said that all the resources are being utilized to mitigate the load shedding by December 2009. He said that private sector power projects and rental power projects are being installed to meet the current power shortfall of 3000 MW. He said that the government is focusing on hydel, solar, wind, coal based power generation for future projects to produce affordable electricity for it consumers as a long term planning. He said that the government has also decided to change its energy mix for cheaper power generation. Mr. Ashraf also informed him that two small wind power projects have been set up initially and giving inviting investors for renewable energy projects. The government is also planning to shift tube wells to renewable energy. He said that number of villages have been electrified in Sindh through solar and soon will be electrified in Balochistan through solar. He also said that it is being planned to shift all the street lights in the country from national grid to solar energy. German technology is reliable in the world and will support Pakistan in this regard. The Minister said that Alternative Energy Development Board will coordinate with the German companies interested to invest in the renewable energy projects. Pakistan will provide maximum facilities through its liberal and incentive based policy to the investors and they will get good returns like other German companies working in Pakistan, he assured.

Earlier, the ambassador thanked the Minister and expressed the keen to invest in the renewable energy power projects in Pakistan. He said that German companies are already working in the various water and power sector projects and has also expertise in the renewable energy projects. He asked for details of the projects identified for renewable energy in Pakistan. He said that a German delegation would like to visit Pakistan to explore venues in the renewable energy projects which is a cheap source of power generation. The ambassador remains some time with the minister and also discussed other matters of mutual interest. ENDS.