Amidst the prevailing power crisis in the country, the Water and Power Development Authority (WAPDA) and Sheikh Ahmed Dalmook Al Maktoum’s private office from the United Arab Emirates (UAE) have joined hands to undertake strategic projects in Pakistan’s energy sector. This collaboration, marked by the signing of two significant Memorandum of Understanding (MoUs) on Sunday, aims to address the energy challenges and propel sustainable development in the nation.
Developing a Floating Solar Power Project on Existing Water Reservoirs
One of the MoUs focuses on the development of a cutting-edge floating solar power project, which is set to generate up to 1000MW of clean energy. This ambitious initiative will utilize the vast surface area of existing water reservoirs in Pakistan. By harnessing the potential of solar energy through this innovative approach, the project aims to contribute significantly to the country’s power generation capacity while reducing reliance on traditional sources.
Rehabilitating and Upgrading Hydro Power Projects
The second MoU aims at rehabilitating, upgrading, and enhancing the capacity of four key hydro power projects: Renala, Rasul, Chichokimalian, and Nandipur. These projects hold great potential to provide clean and sustainable energy to Pakistan. Through strategic investments and modernization efforts, WAPDA and Sheikh Ahmed Dalmook Al Maktoum’s private office seek to optimize the performance of these hydro power projects, ensuring their long-term viability and contributing to the country’s energy security.
Assessing Feasibility and Formulating Implementation Plan
Under the agreements, WAPDA and the private office will collaborate closely to assess the technical and economic feasibility of the proposed projects. By conducting comprehensive studies and analyses, they will determine the viability and potential challenges associated with each initiative. Additionally, the parties will work together to formulate a detailed implementation plan, outlining the necessary steps and timelines for project execution.
Seeking Tariff Structure for Floating Solar Power Projects
Recognizing the significance of attracting investments to support the planned ventures, WAPDA and the private office intend to promptly approach the National Electric Power Regulatory Authority (NEPRA) to seek a favorable tariff structure for floating solar power projects. By establishing an appropriate tariff framework, they aim to incentivize investments and facilitate the deployment of cutting-edge solar technologies in Pakistan. This step is crucial to unlocking the full potential of floating solar power projects and achieving the desired energy transition.
Shared Interest in Renewable Energy Solutions and Long-Term Collaboration
Lieutenant General (Retd) Sajjad Ghani, Chairman of WAPDA, and Sheikh Ahmed Dalmook Al Maktoum expressed their shared interest and enthusiasm for collaboration on long-term projects in Pakistan’s energy sector. Both parties are committed to developing renewable energy solutions that will drive sustainable growth and address the pressing energy needs of the nation. This partnership will serve as a platform for knowledge exchange, technology transfer, and fostering innovation in the energy sector.
Expanding Investment Opportunities in WAPDA’s Small Hydro Power Projects
The MoUs establish a cooperative framework between Sheikh Ahmed Dalmook Al Maktoum’s private office and WAPDA, facilitating collaboration and exploration of investment opportunities, particularly in WAPDA’s small hydro power projects. Leveraging the private office’s extensive portfolio, which spans various sectors including energy (both conventional and renewable), infrastructure, LNG, oil and commodity trading, healthcare, and agriculture, the collaboration aims to attract substantial investments and accelerate the development of Pakistan’s energy infrastructure.
Demonstrated Commitment to Pakistan’s Energy Sector
Sheikh Ahmed Dalmook Al Maktoum’s private office has already showcased its dedication to Pakistan’s energy sector through various investments. Notably, their involvement in the Oracle Energy Green Hydrogen project highlights their commitment to advancing renewable energy technologies in the country. Furthermore, the private office has recently formed a joint venture with AD Ports Group, focusing on the operation and management of Karachi Gateway Terminal Limited, thus expanding their engagement in the infrastructure sector. These initiatives underscore the private office’s long-term commitment to contributing to Pakistan’s sustainable development.
In conclusion, the collaboration between WAPDA and Sheikh Ahmed Dalmook Al Maktoum’s private office marks a significant step towards overcoming the ongoing power crisis in Pakistan. By harnessing renewable energy sources and revitalizing existing hydro power projects, this partnership aims to enhance the country’s energy infrastructure, foster sustainable development, and pave the way for a more resilient and greener future.