Syed Marwan Shah

The Board of Investment (BoI) is seeking applications for renewable energy generation at multiple locations in Balochistan to ensure the supply of sustainable power to industrial and commercial consumers, reports WealthPk.

The implementing agency will be the Alternative Energy Development Board and the preferred mode of investment will be: finance, build, operate, and own. The project, estimated to cost Rs2.5 billion, will take two years to complete.

In a discussion with WealthPK, an official of the Board of Investment (BoI) said Pakistan – a populous country of over 220 million people – is a rapidly developing economy, so its energy requirements are likely to be considerable. Since the country has historically been a net energy importer, it is experiencing serious energy shortages, he added.

‘’There is a need for Pakistan to initiate a long-term, sustained transition towards the use of renewable energy – an abundant resource whose considerable potential has yet to be harnessed in a meaningful way. An adequate and uninterrupted power supply to industrial and commercial consumers is essential for future economic and industrial development in Balochistan,’’ the official said.

Balochistan is rich in renewable energy resources that need exploration for sustainable development and to meet its future economic and industrial development needs.

According to WealthPK research, the BoI’s initiative will also help end the country's dependence on imported fossil fuels which consume sizable foreign exchange reserves and contribute to the country’s circular debt.

The research also indicates that solar radiation in Balochistan is the highest compared to other parts of Pakistan, with an average daily solar radiation of 5.9-6.2 kWh/m2 on an annual basis. Approximately, 40 percent of Balochistan's land area receives direct solar radiation with a potential energy output of more than six kilowatt-hours per square meter per day.

An average daily global insolation of 19 to 20 MJ/m2 is recorded for the province with an annual mean sunshine duration of 8-8.5 hours. As far as the solar energy potential is concerned, these values are among the highest available in the world.

In addition to the long sunshine hours, Balochistan is also blessed with a high rate of wind speed. A significant amount of wind power can be generated in Pakistan, especially in the southern regions of Balochistan, where wind speeds range between 7 and 8 m/s along the 1,000 kilometres of coastline. A potential capacity of 122.6GW per year is estimated for wind energy, more than twice the country's current level of energy production.

Credit : Independent News Pakistan-WealthPk