Minister for water and power, Syed Naveed Qamar, said government will soon announce feed-in tariff for coal and solar power projects to meet the rising energy requirements of the country. The minister said this while presiding over Board of Directors meeting of the Alternative Energy Development Board (AEDB). He said to attract investors in renewable energy sector a new incentive laden alternative energy policy is being finalised. He said draft policy will be sent soon to Council of Common Interests for approval. He directed AEDB and the ministry to finalise the policy as soon as possible. He said government has set a target of generating 1500 MW from wind power generation by 2013 and procedure has been simplified for investors in order to achieve the target. It has also been ensured that investors will get land lease in the wind corridor without any delay after completing the formalities.
He said the country has wind power potential of more than 300,000 MW which needs to be explored. Government is attaching high priority to this sector and will facilitate investors in this respect. . The meeting was informed that about wind projects with a potential of 100MW were under construction phase in Sindh. Meeting was informed that Three Gorges Corporation of China has started construction of 50 MW wind project while Zorlu Energy of Turkey has completed all formalities for their project. The signing ceremony with Zorlu will be held shortly. Another signing with Chinese company for their second project will be held.
