Federal Minister said this while presiding over 22nd meeting of Board of Directors of Alternative Energy Development Board (AEDB) held on Wednesday.
He said that the country has wind power generation potential of more than 300,000 MW which needs to be explored. The government is attaching high priority to this sector and will facilitate the investors in this respect.
He said that in order to attract the investors, a new incentive based alternative energy policy is being finalized. The draft policy will be sent soon to the Council of Common Interest for approval.
He also directed the AEDB and the Ministry to complete the work on new policy at the earliest. The meeting was informed that three Gorges Corporation of China has started construction of 50 MW wind farm while Zorlu Energy of Turkey has completed all the formalities for their project.
The meeting was told that the signing ceremony with Zorlu will be held shortly while another signing with Chinese company for their 2nd project will be soon. It was also informed that about 100 MW wind farm project in the construction phase in Sindh province. The AEDB is facilitating the investors and providing all assistance to them.
Meanwhile, the meeting approved various cases of wind farm projects.
Naveed Qamar said that as the government has announced upfront tariff for wind energy projects, the upfront tariff will also be announced for Coal and solar power generation to generate cheaper electricity and to meet the future requirements.
It has also been ensured that the investors will get land lease in the wind corridor without any delay after completing the formalities.
Federal Minister for Water and Power said that the government is utilizing all the resources to reduce the power shortages and various steps have been taken in this regard during the last four years.