Pakistan Targets $100 Billion Investment for Green Energy Revolution
ISLAMABAD: Pakistan is set to attract $100 billion in investments to drive its ambitious green energy transition, aiming to expand renewable energy, cut carbon emissions, and build a sustainable energy future.
Federal Minister for Power Awais Ahmad Khan Leghari, while briefing the Senate Standing Committee on Climate Change, outlined a roadmap requiring $50 billion to generate 60 percent of the country’s electricity from renewable sources by 2030. This shift is critical to reducing Pakistan’s reliance on expensive fossil fuel imports and mitigating the impacts of climate change.
An additional $18 billion is earmarked for initiatives under the National Energy Efficiency & Conservation Authority (NEECA), including infrastructure upgrades and incentives for electric vehicles (EVs). The Wheeling Policy, aimed at facilitating private sector participation in renewable energy production, sale, and distribution, is expected to accelerate this transition.
“We are not just focusing on electricity generation but also its efficient use, along with special discounted tariffs to support green energy policies,” said Leghari. He highlighted that 55 percent of Pakistan’s electricity already comes from eco-friendly sources, with plans to increase it to 88 percent in the future.
Electric Vehicles and Energy Efficiency
Pakistan’s first electric vehicle policy is a game-changer, reducing EV charging tariffs from Rs71 per unit to Rs39.70. The transition of 30 million motorcycles, which consume $6 billion worth of petrol annually, to electric power is a priority. Additionally, diesel-powered tube wells will be converted to solar and electric alternatives.
However, concerns were raised about Pakistan’s slow EV production. Senator Sherry Rehman pointed out that only 60,000 EVs have been produced against a 600,000-unit target, while EV charging infrastructure remains severely underdeveloped—only eight charging stations have been installed, despite a goal of 3,000 by 2030. She urged banks to introduce EV financing and called for an expedited expansion of charging networks.
The closure of five costly, high-emission furnace oil power plants (2,500MW capacity) was praised for saving billions of rupees and reducing pollution. Meanwhile, water scarcity remains a pressing issue, with Sindh and Balochistan facing severe shortages. Rehman emphasized solar-powered irrigation as a sustainable alternative to inefficient drip irrigation systems.
With ambitious renewable energy and efficiency policies, Pakistan is positioning itself as a leader in green energy development, working towards economic stability and environmental sustainability.
Story by Israr Khan
