21 Per Cent Growth In RW Forecast In Next Eight Years

ISLAMABAD, Jan 4 (UrduPoint / Pakistan Point News - 4th Jan, 2023 ) :As many as 21 per cent growth in renewable energy (RE) has been forecast in next eight years till 2030.

Sources told APP here that as per the forecast, the total generation from wind, solar and bagasse would be enhanced from from 2949 megawatt (MW) to 13,686 MW during the said period.

Sharing details, they said the share of solar would wind would be over 5000 MW, solar 7,932 MW and 749 MW bagasse. The government has revised these forecasts based on stronger policy support and ambitious climate targets announced for COP 26, i.e. Alternative Renewable Energy (ARE) Policy (30% share of solar and wind), Indicative Generation Capacity Expansion Plan (IGCEP), National Electricity Policy 2021, and Nationally Determined Contributions (NDCs) (60% capacity share of renewables and hydro by 2030.

They said in terms of tariff determination of renewables, the current cost of generation from different sources show that renewables were becoming increasingly competitive with conventional fossil fuel-based sources.

The current generation mix included wind and solar with much higher older tariffs of Rs 25.25/kWh and Rs 24.41/kWh and latest plants with tariffs as low as Rs.16.20/ kWh and Rs.19.14/kWh.

They said the tariffs determined by NEPRA for wind power plants in the last decade have reduced from Rs.12.77/kWh to Rs.6.39/kWh.

Pakistan's energy mix witnessed an offtake of renewables over the past decade. Renewables contribute about 4 per cent of total power sector generation while wind alone contributes more than two-thirds of renewables generation.

Energy generated from solar and wind jumped from almost zero in 2011 to 4,320 GWh of electricity units in 2021.

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