‘Govt actively promoting development of renewable energy projects’

ISLAMABAD: The federal government was actively promoting and facilitating the development and deployment of renewable energy projects in Pakistan to meet electricity demands of consumers, Power Division said.

In a statement, the Power Division said the development of renewable energy-based power generation projects was being pursued in Independent Power Producers mode through private sector investors under government policies.

It said that a total of 51 renewable energy projects of 2634 megawatt capacity have been completed and are supplying electricity to the national grid. Several other initiatives are also being taken for fast-track development of renewable energy projects.

The division further said the government was encouraging utilization of solar energy technology at consumer ends across domestic, commercial, and industrial sectors.

It said in order to facilitate domestic consumers in installation of solar systems, the government has already set in place a financing scheme for renewable energy through the State Bank of Pakistan.

As per the scheme, concessional loans at the rate of six percent interest are being provided by the commercial banks under different categories.