Business Recorder/07-02-2020

ISLAMABAD: The Danish wind turbine manufacturer Vestas -the world’s largest wind turbine maker, representing over 16 percent of the world wind turbine market -has shown keen interest in establishing Wind Turbine factory in Pakistan and started groundwork for exploring the feasibilities. This was revealed in a meeting of delegation of Vestas Company led by Danish ambassador Rolf Holmboe with Federal Minister for Power and Petroleum Omar Ayub Khan. Special Assistant to the Prime Minister on Petroleum Nadeem Babar and Secretary Power Division Irfan Ali also participated in the meeting. The meeting was informed that the keeping in view the targets set by new Renewable Energy Policy for enhancing the share of Renewable Resources from four percent to 30 percent and ensuring transparency by introducing competitive bidding regime, the company has decided to work on exploring further the establishment of manufacturing facilities with transfer of technology. The minister explained to the delegation various broad parameters of the new Renewable Energy Policy. He said that by year 2030, the country would be having around 20,000MW from renewable resources. He said that not only the local consumption of renewable energy related machinery like wind turbines etc would be a profitable investment for global companies but Pakistan could also serve as base for exporting the same to countries like Central Asia and African countries where there was a huge untapped potential of renewable resources.