Pakistan invites Chinese companies to invest in renewable energy to cut reliance on fuel imports

ISLAMABAD: Pakistan’s ambassador to China has invited Chinese companies to invest in the country’s renewable energy and offshore wind sectors, state-run media reported on Monday, as Islamabad seeks to cut its reliance on expensive fuel imports amid its prolonged energy crisis.
Pakistan has suffered from an energy crisis that stems largely from a gap in the country’s energy supplies and electricity demand, with the South Asian country’s reliance on expensive energy imports drains its resources and triggers inflation.
According to National Electric Power Regulatory Authority’s (NEPRA) 2022 yearly report, Pakistan’s total installed power generation capacity is 43,775 MW, of which 59 percent of energy comes from thermal (fossil fuels), 25 percent from hydro, 7 percent from renewable (wind, solar and biomass) and 9 percent from nuclear energy resources.
“Pakistan’s Ambassador to China, Khalil Hashmi has said that Pakistan has a natural advantage for renewable resources of energy with its long coastline of over one thousand kilometers,” Radio Pakistan reported. “He invited Chinese investors to explore the opportunities available in Pakistani offshore wind industry.”
The Pakistani envoy was speaking at a seminar titled “High-Quality Development of Offshore Wind Power Supply Chain” at the Chinese city of Fuzhou, Radio Pakistan said.
He appreciated China’s rapid advancements in the offshore wind industry sector, underlining the need for enhanced bilateral cooperation by strengthening technology exchanges, infrastructure development and regulatory support, the state broadcaster said.
Pakistan’s power minister last month met his counterpart from Iran and Chinese energy officials to discuss enhanced cooperation in cross-border energy on the sidelines of the Third Belt & Road Ministerial Conference held in Qingdao, China in October.
The Pakistani minister also held separate meetings with Yao Huan, vice president of Power China and Ni Zhen, the general manager of Energy China, in Qingdao. During the meeting, Leghari conveyed Pakistan’s desire to modernize power dispatch and transmission systems, aimed at cutting lines and other losses, the power ministry had said.