Pakistan has put a hold on its ambitious 300MW floating solar power project, which was planned for installation on the Tarbela and Ghazi Barotha hydropower reservoirs. Despite being one of the most cost-efficient and environmentally beneficial energy solutions in the region, the government has asked the World Bank to pause the project’s preparation due to shifting energy priorities and its exclusion from the Indicative Generation Capacity Expansion Plan (IGCEP) 2024-2034.
Key Points:
1. The project’s tariff of 2.98 US cents per unit would have been the region’s lowest, offering substantial savings and a 42% economic rate of return (51% with environmental benefits).
2. Floating solar was seen as a solution to reduce reliance on inefficient thermal power plants, promising annual savings of over $72 million in foreign exchange.
3. The decision reflects broader challenges in Pakistan’s energy sector, including imbalances between grid demand and off-grid generation.
While the decision marks a step back for renewable energy expansion, the government stated it might revisit the project once its long-term energy strategy is finalized. This highlights the complexities of balancing energy transition goals with immediate infrastructural and economic realities.
https://tribune.com.pk/story/2517513/govt-drops-300m-floating-solar-project#google_vignette