World Bank Advises Pakistan to Invest in Solar and Wind Energy

World Bank Advises Pakistan to Invest in Solar and Wind Energy – stating in the reportt, it’s estimated that Pakistan could save up to $5 billion over years.

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As per the recent suggestion by the World Bank, Pakistan must start investing in solar- and wind-generated power sources.

This would result in an inexpensive production of electricity, greater energy security, a reduction of carbon emissions, and saving up to $5 billion over the next 20 years.

The study by the World Bank reviewed that Pakistan has enormous potential to generate solar and wind power.

The World Bank Country Director for Pakistan, Najy Benhassine in this regard said:

A large and sustained expansion of solar photovoltaic and wind power, alongside hydropower and substantial investments in the grid, is both achievable and desirable,

Such an initiative would lead to immediate and long-term economic and environmental benefits. It would enhance the security of supply as well as positioning Pakistan at the forefront of the global energy transition. We stand ready to support Pakistan in achieving the goal of affordable, reliable power for all by 2030.

The report further said that in response to the study from the WB, Dr. Khawaja Riffat Hassan, Managing Director, National Transmission & Despatch Company said:

We understand that for achieving the renewable energy targets set through Alternative and Renewable Energy Policy 2019, we need to make sufficient investments in the transmission system, including modern automation and control systems and a reliable forecasting system,

We are convinced that with political commitment, investment in technical capacity and planning tools, and flexibility on the part of existing operators and investors, Pakistan is in a strong position to reap the benefits of greater reliance on our indigenous resources of solar and wind.

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