ISLAMABAD: Federal government was actively promoting and facilitating development and deployment of renewable energy projects in Pakistan to meet electricity demands of consumers, Power Division said.

In a statement, Power Division said development of renewable energy-based power generation projects was being pursued in Independent Power Producers mode through private sector investors under government policies.

It said that a total of 51 renewable energy projects of 2,634 megawatt capacity have been completed and are supplying electricity to national grid. Several other initiatives are also being taken for fast-track development of renewable energy projects.

Division further said government was encouraging utilisation of solar energy technology at consumer ends across domestic, commercialand industrial sectors.

It said in order to facilitate domestic consumers in installation of solar systems, government has already set in place a financing scheme for renewable energy through State Bank of Pakistan.

As per scheme, concessional loans at rate of six percent interest are being provided by commercial banks under different categories.

Published in The Daily National Courier, November, 14 2022

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.