NEPRA Approves K-Electric’s Power Acquisition Program For FY 2024-2028

NEPRA approves K-Electric’s power acquisition program for FY 2024-2028

K-Electric (KE) has secured approval from the National Electric Power Regulatory Authority (NEPRA) for its power acquisition programme (PAP) for the period FY 2024-2028

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th May, 2024) K-Electric (KE) has secured approval from the National Electric Power Regulatory Authority (NEPRA) for its power acquisition programme (PAP) for the period FY 2024-2028.

This approval represents a pivotal development in KE’s strategy to enhance the reliability and sustainability of power supply in Karachi, said a press release issued on Monday.

KE’s submission of the PAP on March 20, 2023, outlined a comprehensive plan to ensure a stable power supply by integrating renewable energy, local fuel, and power off-take from the National Grid. This ambitious programme aligns with the NEPRA approved IGCEP 2022-2031, National Electricity Policy 2021 and the National Electricity Plan 2023-2027.

A significant focus of the approved plan is the integration of renewable energy. KE aims to add 1,282 MW of renewable energy, including solar and wind projects, by 2030. This includes a notable 270 MW solar PV project in Karachi and a 200 MW hybrid plant near the Dhabeji Grid Station. These projects are expected to significantly contribute to the city’s energy mix, promoting sustainability and reducing the carbon footprint.

Moonis Alvi, CEO of K-Electric, expressed his appreciation for NEPRA’s decision, stating, “We welcome the decision by NEPRA on our Power Acquisition Program, providing us a clear roadmap for the next 5 years.

Integrating clean energy is vital to driving a sustainable energy ecosystem, balancing affordability with reliability.

Over the past few months, we have been garnering a great deal of global interest on our 640 MW renewable energy projects, which indicate the repute that KE enjoys as a brand. This decision enables us to invest in innovative, sustainable technologies, ultimately contributing to the betterment of Karachi and ensuring a brighter future for its residents.”

Additionally, the PAP includes capacity addition on local coal which will diversify the energy mix and reduce reliance on imported fuels.

The PAP also details KE’s agreements to import additional power from the National Grid which will also improve grid utilization, benefitting the regulated consumers as well as the sector at large.

This approval marks a significant milestone for KE as it endeavors to meet the growing energy needs of Karachi while promoting sustainability through increased reliance on renewable energy sources. The successful implementation of this

plan is expected to drive the city’s economic growth and provide a reliable and sustainable power supply to its residents and businesses.