Monday, February 26, 2024

Pakistan signed an agreement with Germany on the €8.1 million renewable energy project

The energy sector has seen a considerable increase in cooperation between Pakistan and Germany, Federal Energetic Minister Hammad Azhar remarked.

The Minister acknowledged the recently signed €8,1 million implementation agreement for the GIZ Pakistani Renewable Energy and Energy Efficiency II (REEE-II) project with German Ambassador Bernhard Schlangheck.

“A crucial milestone in Pakistan’s energy transformation is the new renewable energy policy agreed upon by the Council of Common Interests,” he stated. “The policy will lead to a significant shift in electricity generation to renewable sources.”

He has explained that the renewable energy component in the whole energy mix would rise from 6% by 2025 to 20% and from 30% by 2030.

A German envoy was informed by the Minister of the numerous ongoing projects started by the government in the energy industry.

He stated that a fresh problem in the energy industry was a physical increase of around 20 percent in consumer demand and over 15 percent in industrial electricity use.

“Our objective is to significantly enhance the transmission and distribution infrastructure to meet generation capacity needs,” he said.

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