Germany, Pakistan launch renewables partnership
Germany and Pakistan have announced a landmark new partnership to develop renewable energy projects.
The German Ambassador to Pakistan confirmed that the two countries will collaborate on renewable energy and will establish a forum to enhance knowledge sharing and cooperation between public and private sector stakeholders.
Germany has been a partner in the development of clean energy infrastructure in Pakistan for a number of years and the new partnership will focus on financial and technical assistance for hydropower projects.
Germany will also assist with the formulation of policy and regulations to support the renewable power sector in Pakistan.
Pakistan has a largely untapped renewable energy potential and has only recently started attracting investments from international investors, mainly from China and European.
Foreign investors committed over $3 billion into the renewables sector in Pakistan over the last year and the Alternative Energy Development Board stated that letters of interest have been issued for 25 solar power projects with a total potential capacity of 663 MW.
The provincial government of Punjab province has also issued letters of intent for 600 MW of solar power capacity.