Zeeshan Mumtaz
ISLAMABAD: The Asian Development Bank (ADB) has stated in its report that Pakistan needs investment in the energy sector, ranging from $62 billion to $155 billion by 2030.
According to the report published by ADB’s Central Asia Regional Economic Cooperation (CAREC) Energy Strategy 2030, energy investment in Pakistan varies rapidly across the three energy sectors.
These three energy sectors consist of power generation, the energy efficiency sector, which needs relevant investments, and the low baseline energy efficiency sector.
Investment requirements in energy sector
In all these three energy sectors, the largest investments are required to extend and develop the country’s hydropower electricity capacity, ranging from $11 billion to $26 billion.
Investment needs for the wind and solar energy sector are expected to reach around $12 billion in the usual investment scenario, $36 billion investment required in the government-committed scenario, and $57 billion in the green growth scenario within the wind and solar energy sector.
In this way, ADB displays Pakistan’s ambitious plans for enhancing its large renewable and clean energy program.
Investment in Nuclear power generation.
According to Pakistan’s nuclear power generation goals, investments for nuclear facility development and upgradation reaches nearly $12 billion in the routine scenario, an investment expected to reach around $21 billion in the government committed scenario, and investment reaches around $31 billion in the green clean growth scenario within the nuclear power generation
According to the ADB report, developing and upgradation of the power and gas grids and launching advanced energy metering equipment require investments of approximately $13 billion to $14 billion.
