ISLAMABAD: In a groundbreaking development, the United Arab Emirates (UAE) on Sunday committed a substantial investment package to expedite the adoption of sustainable energy solutions in Pakistan, further strengthening their bilateral relations.
The Water and Power Development Authority and the private office of Sheikh Ahmed Dalmook Al Maktoum inked two important Memorandum of Understanding (MoUs) to start strategic projects in Pakistan’s energy sector.
The first MoU focuses on installing a floating solar power project of up to 1000 Mega Watt on existing water reservoirs, while the second is aimed at rehabilitating, upgrading, and boosting the capacity of 4 hydropower projects, namely Rasul, Chichokimalian, Renala, and Nandipur.
Under these accords, the parties will assess the technical and financial feasibility of the projects and make an implementation plan.
Moreover, they intend to promptly approach the National Electric Power Regulatory Authority to get a tariff structure for floating solar power projects. This measure is crucial in facilitating the required investments outlined in the MoUs and providing assistance for the planned ventures.
Long-term Energy Projects
Lt. Gen. Sajjad Ghani (Retd), Chairman WAPDA, and Sheikh Ahmed Dalmook Al Maktoum expressed their shared interest and enthusiasm for collaboration on long-term projects in the energy sector of Pakistan, particularly stressing the development of renewable energy solutions.
The MoUs established a cooperative framework between WAPDA and the Private Office, facilitating collaboration and exploration of investment avenues, especially in WAPDA’s small hydropower projects.
The Private Office’s portfolio encompasses a range of publicly and privately held group companies, which primarily operate in fields such as energy (both conventional and renewable), LNG, oil infrastructure, commodity trading, agriculture, and healthcare.
