K-Electric to Enhance Renewable Energy Mix Between FY24-FY30

K-Electric aims to increase transmission and distribution infrastructure while maximizing the use of renewable and indigenous resources under its Power Acquisition Program (PAP) for the financial year 2023-24 to 2029-30.

The National Electric Power Regulatory Authority (NEPRA) today concluded a public hearing on K-Electric’s Power Acquisition Program (PAP) for FY2024 to FY2030.

The key objective of the Power Acquisition Program is to develop a long-term capacity expansion plan for KE’s service territory and meet the energy demand in a reliable and sustainable manner while maximizing the use of renewable and indigenous resources.

The Power Acquisition Program was submitted to the regulator in early 2023 and complements KE’s Rs. 484 billion Investment Plan to bolster KE’s transmission and distribution infrastructure. Focused on enabling access to affordable energy for all, the PAP prioritizes a gradual integration of renewable and indigenous power sources up to 2,200 MW.

This includes solar, wind, and hydel projects which will channel electricity towards Karachi under the wheeling regulations prescribed by the NEPRA and Government of Pakistan.

It is anticipated that with a sustained growth of 2 percent per year, Karachi’s peak demand could touch 5,000MW by 2030 and will cater to the power needs of 5 million customers. The company’s efforts are to make the share of renewable energy comprise 30 percent of its generation mix. To actualize these power projects, KE is engaged with various stakeholders including the World Bank, Sindh Energy Department, the Government of Balochistan, and other large-scale power sector developers.

The approval of the Power Acquisition Program is an important step in K-Electric’s Multi-Year Tariff (MYT) process. The company voluntarily filed for a non-exclusive license and submitted separate petitions for its generation, transmission, and distribution businesses in alignment with the best practices and imminent liberalization of the power sector under the CTBCM.

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