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50,000mw power by ‘30: IEEEP for putting energy projects shares on bourses

50,000mw power by ‘30: IEEEP for putting energy projects shares on bourses

KARACHI: The Institution of Electrical and Electronics Engineers Pakistan (IEEEP) underscored the need for floating shares of energy projects in the stock market to collect the requisite funds for energy projects.

Institution of Electrical and Electronics Engineers Pakistan (IEEEP) President Engineer Mohsin M Syed made the suggestion while addressing 35th Annual Convention/ AGM of IEEEP here. ICI Pakistan Chief Executive and founding member of IEEEP Eng Shafiq A Siddiqi was the chief guest at the ceremony.

The IEEEP chief pointed out that the country was faced with a minimum shortage of 10,000 megawatts. “We should plan generation of cost effective 50,000MW electricity by 2030 to provide electricity to connect 45 percent of the country’s population who are off the line so far.”

Solar energy, he said, was an option in which every Pakistani could participate by installing 1-5 kilowatts in their homes. “This can remove 3,000 megawatts of load from distribution network which will be given to the industry adding that this will create jobs. Similarly agriculture tube wells from 15-20 kilowatts can be converted to solar energy and 200,000 tube wells can spare another 3,000MW from the distribution system benefiting the former by reducing the input cost of water.”

He also suggested that projects like 6,000MW to 10,000MW could be set up at Keti Bander where initially imported coal could be used and gradually replaced by Thar coal. He suggested that there was a need to study the use of three-phase electricity meters for homes.