A press release issued by NEPRA has revealed the launch of a renewable power project in the province of Balochistan. According to the statement, the National Electric Power Regulatory Authority (NEPRA) has granted a generation license to Enertech Pakistan to establish a 50-megawatt solar power project to be built in Pishin, Balochistan.
The power project is to be built on a ‘Build, Own, Operate and Transfer (BOOT) basis and will be the first renewable Independent Power Producer (IPP) project in Balochistan.
The company which will be at the helm of this project, Enertech Holding, is wholly owned by the National Technology Enterprises Company (NTEC), a fully owned subsidiary of Kuwait Investment Authority (KIA). KIA is the largest sovereign wealth fund of the State of Kuwait and happens to be one of the oldest in the world.
In his comments on the development, the chief executive officer of Enertech Pakistan, Yasser Malik said that his company was committed to harnessing the renewable potential of Balochistan. He added that the goal of such a project was to develop Balochistan into a renewable energy hub of Pakistan.
Yasser said that Enertech would continue its partnership with the government of Balochistan on other initiatives pertaining to energy independence, food security and infrastructure development.
He added that such projects would lead to an increase in local employment and aid economic growth whilst improving the socio-economic conditions in the province.
The project is a positive development in the backdrop of global warming and climate change. Pakistan is considered to be one of the world’s most vulnerable victims of climate change. A report released by Germanwatch, a public policy group, stated that Pakistan is among ten countries who would be affected most by climate change.
In light of such a scenario, the project will aid Pakistan in not only fulfilling its energy needs, but it would allow Pakistan to do so in a renewable manner that could reduce the effects of climate change on the country to some extent.
The power project is to be built on a ‘Build, Own, Operate and Transfer (BOOT) basis and will be the first renewable Independent Power Producer (IPP) project in Balochistan.
The company which will be at the helm of this project, Enertech Holding, is wholly owned by the National Technology Enterprises Company (NTEC), a fully owned subsidiary of Kuwait Investment Authority (KIA). KIA is the largest sovereign wealth fund of the State of Kuwait and happens to be one of the oldest in the world.
The press release issued by NEPRA appreciated the role of Balochistan Chief Minister Jam Kamal Khan in attracting investment for Balochistan. It stated that the chief minister’s efforts send a positive message to global investors.
In his comments on the development, the chief executive officer of Enertech Pakistan, Yasser Malik said that his company was committed to harnessing the renewable potential of Balochistan. He added that the goal of such a project was to develop Balochistan into a renewable energy hub of Pakistan.
Yasser said that Enertech would continue its partnership with the government of Balochistan on other initiatives pertaining to energy independence, food security and infrastructure development.
He added that such projects would lead to an increase in local employment and aid economic growth whilst improving the socio-economic conditions in the province.
The press release touted the project as being in line with Prime Minister’s vision of a Green Pakistan where renewable energy would have a 30 percent share in total energy production by 2030.
The project is a positive development in the backdrop of global warming and climate change. Pakistan is considered to be one of the world’s most vulnerable victims of climate change. A report released by Germanwatch, a public policy group, stated that Pakistan is among ten countries who would be affected most by climate change.
In light of such a scenario, the project will aid Pakistan in not only fulfilling its energy needs, but it would allow Pakistan to do so in a renewable manner that could reduce the effects of climate change on the country to some extent.