13.7 C
October 21, 2019
Business Latest Top Stories

Danish cos to invest in renewable energy projects in Pakistan

ISLAMABAD: Danish energy firms have expressed their keen interest to invest in renewable energy projects in Pakistan.

The companies will participate in in the bidding process for renewable energy projects which will be held in the current fiscal year.

The bidding will be conducted in the third or fourth quarter of the current fiscal year after approval to the renewable energy policy.

Federal Minister for Power Omar Ayub Khan while talking to a delegation of Danish investors said that the proposed renewable energy policy envisaged contracting affordable energy projects at massive scale to increase its share in the overall energy mix by 20 percent till 2025 and 30 percent till 2030 from the existing four percent.

A delegation of Danish investors led by Ambassador to Pakistan Rolf Michael Hay Pereira Holmobe called on the minister at his office.

Nadeem Babar, Chairman of the Prime Minister’s Task Force on Energy, told the delegation that the task force is working on the finalisation of the country’s energy demand scenario for 25 years with a full-fledged energy plan for the transparent transaction at all levels.