Nepra Chairman, Tauséf H. Farooq, stated on Friday, that the National Regulatory Authority for Electric Power (Nepra) plans in the next 10 years to increase its renewable energy footprint to 30 percent from the present total capacity of 3pc in Pakistan by more than 35,000MW. Attend a live “Pakistan’ webinar
Tauseef H Farooqui, president of the NEPA, addressed the first worldwide conference and display on solar energy. This was recommended by the National Electric Power Regulatory Board.
He asked solar firms to develop new power solutions to power households with 30% of the Pakistani population without electricity.” Creates a unique method for supplying these off-grid individuals with power since it is an enormous untapped market for your electricity,” said Farooqui.
Renewable energy from the rooftops of their home in Lahore is silently being embraced by middle-class families. The rooftops with ranges of solar panels have recently become increasingly prevalent in prosperous towns in big cities as homemakers come up against the trend.
But this is not driven by worldwide worries over increased emissions of greenhouse gases or environmental damage; the change is simply driven by growing energy prices and power cuts, which are refusing to go away despite the surplus capacity generated in the nation in the past five years.
IH&SMEFD’s Director of the State Bank of Pakistan (SBP), Dr. Mian Farooq Haq, said that in2016, the central bank launched a financial system to assist climate change concerns and to encourage the development of renewables.
There are still several funding possibilities for a wide range of organizations and people, from Rs 400 million to Rs6 billion. By February 2021, funding was granted to more than 500 projects for about Rs36bn,” he added.
