Under the CCoE decision, renewable energy projects
would be accepted only through competitive bidding for specific generation
capacities. The new policy was now in final stages, had been supported by
lending agencies and could not be held back to accommodate 2006 policy
investors who could be considered separately and on examination of their
cost-benefit analysis.
The provinces and other private stakeholders wanted
the new policy to accommodate those past investors after having spent a lot of
time and money in the new policy as had been the case in all the past power
policies and petroleum policy to allow existing investors to adopt new regime
with cost plus tariff formula subject to certain conditions.
It was assumed that provinces would be left with no
option but to raise objections over the new policy when it was taken up for
approval at the level of Council of Common Interests (CCI). A dispute at the
ultimate forum under the constitution to adopt the policy could have negative
repercussions unless the projects awarded by provincial governments under the
independent power producer (IPP) mode were covered in the new policy to
safeguard the interests of the provinces.
The new
renewable energy policy had been developed in the light of
present day situation when the technologies on one side were fast developing
while on other side the cost was continuously going down. Country’s electricity
basket is hugely tilted towards thermal imported fuels and emphasized that the
new policy envisages increasing the share of renewable energy from around 4 per
cent to 20pc by year 2025 and 30pc by year 2030.
Underscoring the importance of renewable resources and
their optimal utilization for generation of electricity, he said that from the
prospect of attaining energy security and decreasing the impact of current
thermal generation on environment, Pakistan needed to develop and harness to
the maximum level its indigenous renewable energy resources.
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