Prime Minister Shehbaz Sharif officially approved the construction of solar power projects of 2000 megawatts in the public sector in order to generate low-cost and environment-friendly electricity.
The premier gave the approval while chairing a meeting and overseeing a high-level examination of the nations 10,000 MW solarization project.
The country will make economical and environmentally beneficial electricity because of the solarization initiative, the prime minister addressed the event. He added that through this project, the nations reliance on expensive fuel-fired projects will be reduced, ultimately conserving vital foreign currency.
Moreover, the proposal envisages that agricultural tube wells would be shifted to solar energy in order of priority in all four provinces.
The distribution and line losses, electricity theft, and a surge in circular debt may all be solved by using solar energy, PM remarked.
He added that the government would provide sovereign guarantees to the businesses investing in solar energy. Besides, the transition of the states fuel-powered power facilities to solar energy was comprehensively explained to the gathering.
The meeting was also told that an investors conference on investments in the countrys solar energy sector was conducted earlier this month, during which the representatives of investment companies from local and foreign states, including the United Arab Emirates, Saudi Arabia, China, and Qatar, expressed a strong interest in investing in Pakistans solar energy sector.
Furthermore, the process for choosing the countrys new solar power plants location had begun, the meeting was informed, and a location close to Muzaffargarh has also been chosen for the construction of a 600 MW solar power plant.
Additionally, plans for solar-powered 11 KV feeders are being developed.
The meeting was apprised that Alternate Energy Development Board, NEPRA, Central Power Purchasing Company, and other organizations are now consulting on the framework and tariff for investment in the solar energy industry.
In this regard, Shehbaz Sharif ordered to further improve the timelines so that the electricity generated from solar energy can be included in the national grid at the earliest.