Renewable Energy Projects to go through bidding process

In order to ensure the least cost procurement of renewable electricity, Cabinet Committee on Energy (CCoE) has approved a summary. This includes all new Renewable Energy (RE) projects in an open competitive bidding process. The CCoE met with Federal Minister for Planning, Development and Special Initiatives in the chair at P-Block Secretariat and approved the summary with recommendation on the bidding process. The committee also pondered about the summary presented by the Power Division on the implementation of the CCoE decisions. The august meeting was attended by Minister for Finance, Minister for Energy, Minister for Maritime Affairs, Advisor to PM on Commerce and Industries, chairman Ogra, chairman Nepra, representatives of regulatory authorities, and senior officials of the ministries/divisions also participated in the meeting. The discussion about the all new RE projects in the open competitive bidding process to ensure the least cost procurement of renewable electricity was made. Moreover, the Power Division was also informing the CCoE to prepare a detailed roadmap with milestones for the establishment of RE projects. While including the potential locations and details of the competitive process, new discussion will be accelerated in the next meeting.  The vital discussions about the Petroleum Division were also made while considering the projected natural gas supply in the country for the winter. A number of policy options were presented with efforts to enhance the natural gas supply. The review about the Circular Debt Report October 2021 was submitted by the Power Division and the committee appreciated the sustained reduction in the accumulation of circular debt.