Danish Companies Eye Renewable Energy Investment In Pakistan
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Companies from Denmark are the latest to express interest in developing renewable energy assets in Pakistan, which is struggling to meet the rising electricity demand and is looking at all possible solutions. Such a scenario provides significant advantage to early movers.
Helle Nielson, the Embassy of Denmark Charge d’affaires in Pakistan, stated in a meeting with the Pakistani Minister of Water and Power, Khawaja Muhammad Asif, that Danish companies are looking for opportunities to invest in renewable energy infrastructure in Pakistan. Danish companies are interested in developing solar, wind, and biomass-based power plants, in addition to waste treatment plants. The minister also shared the vast reserves of untapped renewable energy resources available in the country.
Large swaths of wasteland and desert in the eastern and south-eastern part of the country hold immense potential for development of large-scale solar power projects. The province of Balochistan also holds significant renewable energy resources, while wind energy resources along the province’s coastline remains untapped.
Several foreign companies have expressed interest in investing in Pakistan’s renewable energy sector. Chinese companies, however, maintain a huge lead in the regard, and are those developing Pakistan’s largest solar power plant – the 1 GW Quaid-e-Azam Solar Park. Other Chinese companies, including Ming Yang Wind Power, China Three Gorges Corporation, Goldwind, and HydroChina Investment Corporation, are working to set up wind energy projects across the country.
German wind turbine manufacturer Nordex has been supplying turbines in Pakistan since 2010, while Norwegian company Scatec Solar and South Korea’s CK Solar Korea have also announced plans to set up large-scale solar power projects in the country.
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