Experts Call For Refining Conditions To Attract Chinese RE Investors

KARACHI: Industry experts on Monday called for improving conditions to attract the interest of Chinese renewable energy investors, while highlighting challenges such as delayed payments, regulatory issues and security concerns.

The experts discussed redirecting Chinese investment in Pakistan's energy sector from coal to clean energy during a webinar organised by Renewables First, a think tank for energy and environment. The theme of the webinar was “Accelerating Chinese Renewable Energy Investment in Pakistan.”

The webinar brought together local and Chinese audiences, including industry experts, stakeholders and government representatives, to explore opportunities within Pakistan’s renewable energy market.

During the webinar, speakers shared insights on regulatory and policy frameworks needed to attract greater Chinese investment in the renewable energy sector.

NEPRA Chairman Tauseef Farooqi underscored Pakistan’s enormous potential to scale up its renewable energy share. “We are very upbeat about the potential of Chinese investment in the renewable energy sector. Our Chinese friends have a lot to benefit from the potential of RE in Pakistan,” he remarked.

He also emphasised that Chinese investors have a pivotal role to play in supporting Pakistan’s journey to privatise distribution and modernise transmission and distribution, while adding cost-effective solar and wind power to the country’s electricity mix.

Alternative Energy Development Board CEO Shah Jahan Mirza highlighted Pakistan’s immense renewable energy potential and the significant role Chinese investors could play in its development. He noted Pakistan’s ambitious targets of adding 14,000MW of wind and solar to the grid over the next 10 years and encouraged Chinese participation in the country’s RE market.

Xiaohui Ma of Golwind, a leading global wind turbine supplier, noted that while Pakistan’s regulatory framework and incentives are favourable, the wind power industry faces challenges, including curtailment from offtakers and unannounced moratoriums on the import of renewable energy equipment, which have hampered operations.

Ma urged the government to focus on both wind and solar PV as complementary technologies and to develop ambitious plans and frameworks for both in tandem to maximise their benefits for Pakistan.

NA Zuberi stressed the need for a streamlined project development process and removal of barriers through close collaboration and effective stakeholder engagement to attract more foreign investment. He also highlighted the importance of private sector investment in transmission and distribution to facilitate greater RE integration.

“There remains a greater need for inclusivity and gender diversity in the RE market,” pointed out Tara Dawood, Chairperson of Ladies Fund. She encouraged women’s participation in the RE sector and urged developers to ensure their voices are heard within decision-making processes.

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