President for promoting alternate energy means
25 October, 2012
ISLAMABAD: President Asif Ali Zardari said on Wednesday that the government was committed to promote alternate means of energy production to reduce dependency on conventional modes and simultaneously save the environment from further degradation due to burning of fossil fuels.
He was talking to a delegation of DACC Power Generation Company, a subsidiary of US-based DACC Global that provides alternative energy solutions internationally, at Aiwan-e-Sadr here.
The delegation, headed by Doug Melvin, President DACC Global, comprised other members including Arnd Spinger, Joseph Steinfeldt, Mark Lohoff, Adnan Hameed, Zafar Ahmed and Nasir Waseem.
Spokesperson to the President, Senator Farhatullah Babar while briefing about the meeting said that DACC Solar Power Generation Company (DPGC) was pursuing development of a 50MW solar power project in Punjab, production of bio-fuel and installation of solar water pumps in the country.
He said the President while welcoming the delegation appreciated their interest and investment in the alternate energy sector.
The President highlighted huge investment opportunities available in the country in the alternate energy sector and said abundant sunshine and wind corridors offered great opportunities to the investors for harnessing this clean and efficient source of energy.
The President said energy shortage had been one of the major challenges faced by the country at present. He said the government was according highest priority to facilitating the investors undertaking business ventures in this sector.
He also recounted various incentives being offered to foreign investors in the energy sector. He said Pakistan offered 17 percent return on investment (RoI) for renewable energy projects which is one of the highest in the world.
He said NEPRA was working on up-front tariff for solar power projects which would further incentivize setting up of solar power plants in the country.
The President also mentioned special control rooms in the Ministry of Water and Power and various offices of power distribution companies for monitoring and coordination purposes. He said all efforts were being undertaken to avoid bureaucratic delays and to address the issues related to supply and distribution of power on spot basis.
The President assured the company of all possible facilitation in its business ventures in Pakistan. He also expressed the hope that the company will construct more solar projects in other parts of the country too, which will greatly help in meeting the energy demand of the country. The delegation thanked the President for meeting and expressed keen interest in further expanding their business in the country.
Senator Farhatullah Babar, Chairman Intellectual Property Organization of Pakistan Hameedullah Jan Afridi, Secretary to President Maj (r) Haroon Rashid, Secretary Water and Power Ms. Nargis Sethi, CEO Alternative Energy Development Board Arif Allauddin and other senior officials were also present during the meeting.