CPEC 2022: Chinese green investment on rise

(By Yasir Habib Khan):-

CPEC 2022 is going to be wound up with spillover opportune in Pakistan’s green energy landscape underpinning the nation’s plan to boost the share of its electric power that comes from renewable to 30 percent by 2030.

During the culminating year, China-Pakistan green electricity romanticism has blossomed that helped CPEC energy-mix momentum gain perpetuality igniting the ongoing spark and future projects in the sphere of hydro, wind, solar, and others will transform Pakistan environment outlook. Anchoring Pak-China new green corridor announced in 2022, green electricity bond between the two nations will also support Pakistan to meet its Climate targets and UN sustainable development goals.

When renewable energy is talk of the town across the world, Belt & Road Initiative of China is  not behind in contributing towards green revolution. On similar lines, CPEC energy investments from China are now focusing on green energy. It won’t be an exaggeration if we say that 2022 brought a new era in Sino-Pak cooperation in renewable energy, as we have witnessed extremely encouraging signs in green energy sector between the two friendly nations.

Until now, renewable energy sources make up a very minor fraction of Pakistan’s overall power generation mix. According to a recent report of the National Electric Power Regulatovry Authority, the installed capacity for wind and solar accounts for roughly 4.2% (1,831 MW) and 1.4% (630 MW) of a total of 43,775 MW, respectively.

China is already the biggest investor in green energy in Pakistan. Currently, out of the $144 million in foreign investment in solar PV plants in Pakistan, $125 million is from China, accounting for nearly 87% of the total.