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Thursday, May 30, 2024

WAPDA & Al Maktoum’s private office join hands for solar power development in Pakistan

The MoUs aim to create a cooperative framework between the Private Office and WAPDA, facilitating collaboration and exploration of investment opportunities in Pakistan's energy sector.

Water and Power Development Authority (WAPDA) and the Private Office of Sheikh Ahmed Dalmook Al Maktoum have signed two strategic memorandum of understanding (MoUs) for the development of a floating solar power project of up to 1000MW on existing water reservoirs and the rehabilitation, upgradation, and capacity enhancement of four hydro power projects in Pakistan.

Chairman Lt. Gen. Sajjad Ghani (Retd) of WAPDA and Sheikh Ahmed Dalmook Al Maktoum expressed their mutual interest and enthusiasm to collaborate on future, long-term projects in Pakistan’s energy sector, with a specific focus on developing renewable energy solutions.

The MoUs aim to create a cooperative framework between the Private Office and WAPDA, facilitating collaboration and exploration of investment opportunities in Pakistan’s energy sector, particularly focusing on WAPDA’s small hydro power projects.

Read more: CPEC’s first hydropower plant in Pakistan begins full operations

Both parties have agreed to collaborate on upgrading and rehabilitating hydro power projects in Renala, Rasul, Chichokimalian, and Nandipur.

The parties have mutually agreed to collaborate in assessing the technical and economic feasibility of these projects, as well as formulating an implementation plan.

The parties conveyed their intention to promptly approach the National Electric Power Regulatory Authority (NEPRA) to seek a tariff structure for floating solar power projects. This step aims to facilitate the investments outlined in the MoUs and provide necessary support for the planned ventures.

Read more: Milestone achieved as Karot Hydropower begins operations

Pakistan is in dire need of abundant and cost-effective energy due to a significant energy deficit of around 4,000MW. This shortage has led to consumers experiencing power outages lasting 2-3 hours. Therefore, there is an urgent requirement for substantial investment in Pakistan’s affordable energy sector.

The rise in line and recovery losses indicates that increased power generation leads to additional losses.