Danish companies to compete in bidding process for renewable energy projects   

ISLAMABAD: A delegation of Danish renewable energy investors led by Danish ambassador to Pakistan Rolf Michael Hay Pereira Holmobe called on the Federal Minister for Power Omar Ayub Khan and expressed their keen interest in the bidding process for renewable energy projects.

Federal Minister for Power Omar Ayub Khan welcomed the Danish investors for their firm commitment to participate in bidding process for renewable energy projects which the Pakistan Tehreek-e-Insaf (PTI) government is planning in 3rd or 4th quarter of current year after approval of the renewable energy policy by competent forum.

According to a statement released from the ministry, Omar Ayub Khan appraised the delegation that Pakistan’s upcoming new renewable energy policy was aimed at contracting affordable energy projects at massive scale to increase its share in the overall energy mix by 20% till 2025 and 30% till 2030 from the existing 4%.

He said that power division was also working on proposal for consideration of cabinet for clearance of renewable energy projects which were stalled due to previous government decision in order to gain the confidence of investors in the sector.

The minister said that the government was also working on opening the power sector as muti-buyer and muti-seller market which will offer huge investment opportunities in all its areas.

He also apprised the participants that only utilization of indigenous resources like water, sun, wind and then coal can ensure affordability of power since other sources are largely depended on international markets fluctuations.

The Danish ambassador expressed his satisfaction over the government plans and said that Danish Investors were closely and keenly following the growing power sector of Pakistan.

He informed that Danish companies will participate in the renewable energy projects bidding process since Danish technologies are amongst top most in the world in these sectors.