Saudi Arabia Company ACWA Likely To Invest $ 4 Bln In Renewable Energy Sector: National Assembly Told

Saudi Arabia company ACWA likely to invest $ 4 bln in renewable energy sector: National Assembly told

Minister for Power Division Omar Ayub Khan Monday informed the National Assembly that Saudi Arabia power producing company ACWA Power will invest around $ 4 billion in country's renewable energy sector

ISLAMABAD, (UrduPoint / Pakistan Point News - 13th Jan, 2020 ) :Minister for Power Division Omar Ayub Khan Monday informed the National Assembly that Saudi Arabia power producing company ACWA Power will invest around $ 4 billion in country's renewable energy sector.

Responding to various questions during question hour, he said, "Saudi Arabia ACWA Power Company will invest about $ 4 billion on renewable energy sector in the Balochistan province".

He said that generation of cheap electricity utilizing indigenous renewable energy resources including wind, solar, waste to energy biomas was amongst the top priorities of the government.

He said that Alternative Energy Development board (AEDB) had been pursuing the development of alternative and renewable energy based power generation projects through private investors under the Renewable Energy Policy 2006 on IPP mode.

Significant progress had been made in exploiting the wind, solar and biomass / bagasse potential available in the country and several power generation projects based on these resources were operational and many were in the pipeline, he added A new Alternative Renewal Energy Policy 2019 had been formulated by the government that had already been approved by the Federal cabinet and submitted for approval from CCI. The policy targets increasing the share of alternative energy in the energy mix up to a level of 20% by 2025 and 30% by 2030.

The scope of the policy also included development of waste-to-energy projects in the country utilizing municipal solid waste. He said that international and local companies could install waste to energy projects.

The minister said that the tariff had been modified in phases as determined by the NEPRA but the present government had protected the interest of domestic consumers by upto 300 units.

He said that the previous government had not taken any steps for enhancement of rates from 2016 as per tariff structure.

He said that the present government was forced to increase the tariff to reduce the buildup of circular debt increasing at the rate of Rs 30 billion monthly.

It was now reduced to 21 billion per month till June 30. The government was determined to bring the circular debt to zero by the end of current year.

He said that no loadshedding was being carried out on 80 per cent feeders across the country. He clarified that load management was only being carried out in the areas where line losses were high. The present government had initiated a drive to improve recoveries and check power theft.

Parliamentary Secretary for Petroleum Khial Zaman Orakzai while responding to a question related to his ministry said that petrol was reportedly being sold openly through dabba stations especially in rural areas which was illegal. Action against such illegal stations fell in the domain of Chief Inspector of Explosive (CIE) alongwith local / District Administration under the Petroleum Rules, 1937 read with Petroleum Act, 1934, he added.

He said that SSGC had reported that the company was ensuring uninterrupted gas supply and adequate pressures to Quetta, Mastung and Kalat.

The company repeatedly removed the illegal connections from supply and distribution pipelines but the people again reconnected their illegal connections.

He said that from these illegal connections, gas was not only being stolen but due to crude type of puncturing of the company's main pipeline gas leakages were occurring. Furthermore, the company was undertaking pressure profiling on daily basis but the local people were also damaging the Company's Pressure Regulator Stations at Kadkucha and Khaliq Abad.