Pakistan’s $100 Billion renewable energy investment plan is aimed at transitioning to green energy future.
Pakistan requires $100 billion in investments to fully implement its renewable energy policies, aimed at promoting renewables, cutting carbon emissions, and transitioning to a sustainable energy future.
Federal Minister for Power Awais Ahmad Khan Leghari briefed the Senate’s Standing Committee on Climate Change, explaining the roadmap to generate 60% of the country’s electricity from renewable sources by 2030, which will need $50 billion. This is a central part of Pakistan’s climate change strategy and its shift from fossil fuels.
An additional $18 billion will be necessary to support the National Energy Efficiency & Conservation Authority’s (NEECA) plans, which include infrastructure development and incentives for electric vehicles (EVs).
The committee met to assess Pakistan’s climate strategy, focusing on renewable energy, electric vehicles, and water scarcity. Leghari emphasized the economic burden of expensive petroleum imports and noted that 55% of Pakistan’s electricity is currently generated from eco-friendly sources, with plans to increase that to 88% in the future.
The government’s introduction of a “Wheeling Policy” aims to enhance green energy production and trade, while special discounted tariffs will further support environmentally friendly initiatives, according to the Minister for Power.
The country’s first electric vehicle (EV) policy, which includes reducing electricity tariffs from Rs71 per unit to Rs39.70, is a major step toward sustainability. Pakistan plans to shift its petrol-powered motorcycles and diesel-powered tube wells to electric power, addressing the $6 billion annual petrol import bill.
Pakistan is also working on financing options to support the shift to electric vehicles and introducing new building codes to reduce energy waste, along with a program to replace inefficient fans.
Pakistan plans to install 3,000 EV charging stations by 2030, but only eight have been established so far. Although over 1,000 individuals have registered to set up new stations, Rehman urged faster progress and called for banks to introduce EV financing to improve accessibility.
The closure of five high-emission furnace oil power plants (2,500 MW capacity) was praised for saving billions of rupees and reducing pollution. With freshwater reserves depleting, particularly in Sindh and Balochistan, Senator Rehman highlighted the need for solar-powered irrigation to replace harmful drip irrigation systems.
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