Pakistan holds huge potential in renewable energy, requires reforms to tap it: IRENA

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ISLAMABAD: Pakistan possesses huge potential in the realm of renewable energy, but lacks a clear target in this sector, said the International Renewable Energy Agency (IRENA) based in Abu-Dhabi.

In a detailed overview of the country’s renewable energy landscape, IRENA said the country needs to raise its energy security and bolster its energy access, reported Dawn.

IRENA said in its report ‘Renewables Readiness Assessment’ Pakistan requires converting political ambition into something which can be comprehended by investors and demanded a clear target to be set in this regard.

The report stressed the importance of establishing a clear target with a fixed commitment to renewable energy portfolio standards, which would be more productive due to being decreed by law and guarantee its measurability.

Such development would provide confidence to investors they wouldn’t be endangered in wake of political climate changes in the country.

According to IRENA’s determination, Pakistan would need to enact an act ratified by the parliament which would help in designating of renewable energy portfolio standards to distribution utilities.

Furthermore, IRENA’s determination found out Pakistan has an economic and technical hydropower potential of around 60 gigawatts (GW).

Also, the report highlights Balochistan and Sindh has a 50GW of theoretical wind potential.

IRENA projected around 25 million tons of biomass feedstocks from agricultural residue and biomass feedstocks could be made available annually for power generation purposes.

Pakistan’s installed capacity of renewable and alternative energy sources in 2013 stood at 0.2 percent, which now had risen to 5.2 percent of total installed capacity in 2018, said Minister for Power, Awais Ahmed Khan Leghari in IRENA’s report.

Current policy reforms, regulatory changes, investment incentives and infrastructure development are focused on the provision of cheap, clean and uninterrupted electricity supply with a share of renewable energy rising slowly over time.