Fozia Azam

A 21% growth in renewable energy has been forecast in the next eight years till 2030, according to a document available with WealthPK. As per the forecast, the total generation from wind, solar and bagasse would be enhanced from 2,949 megawatt to 13,686MW during the said period.

The share of wind would be over 5,000MW, solar 7,932MW and bagasse 749MW. 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.

In terms of tariff determination of renewables, the current cost of generation from different sources shows that renewables are becoming increasingly competitive with the conventional fossil fuel-based sources.The current generation mix includes wind and solar with much higher older tariffs of Rs25.25/kWh and Rs24.41/kWh and latest plants with tariffs as low as Rs16.20/ kWh and Rs19.14/kWh.

The tariffs determined by the National Electric Power Regulatory Authority (NEPRA) for wind power plants in the last decade have dropped from Rs12.77/kWh to Rs6.39/kWh. Pakistan’s energy mix has witnessed an offtake of renewables over the past decade. Renewables contribute about 4 percent of total power sector generation, while wind alone contributes more than two-thirds of renewables generation. The energy generated from solar and wind jumped from almost zero in 2011 to 4,320 GWh of electricity units in 2021.

Credit : Independent News Pakistan-WealthPk