ISLAMABAD                 -             Denmark-based world’s leading manufacturer of wind turbines, Vestas has expressed deep interest in establishing wind turbines factory in Pakistan and has in this regard started ground work for exploring the feasibilities. Pakistan has offered various options to Denmark based company Vestas including to establish wind turbines factory in the CPEC Special Economic Zone. The matter was discussed here in a meeting of delegation of Vestas company led by Danish Ambassador Rolf Holmboe with Federal Minister for Power and Petroleum Omar Ayub Khan here Thursday. Special Assistant to the Prime Minister on Petroleum Nadeem Babar and Secretary Power Division Irfan Ali also participated in the meeting.

The meeting was informed that keeping in view the targets set by new Renewable Energy Policy for enhancing the share of renewable resources from 4% to 30% and ensuring transparency by introducing competitive bidding regime, the company has decided to work on exploring further the establishment of manufacturing facilities with transfer of technology.

The federal minister explained to the delegation various broad parameters of the new Renewable Energy Policy. He said that by year 2030, the country will be having around 20000MW from renewable resources. He said that not only the local consumption of renewable energy related machinery like wind turbines etc will be a profitable investment for global companies but Pakistan can also serve as base for exporting the same to countries like Central Asia and African countries where there is a huge untapped potential of renewable resources.

Omar Ayub Khan apprised the delegation that Pakistan has offered special incentives for establishment of renewable energy equipment manufacturing units. The minister said that special economic zones also provide a complete investor friendly packages which can also be explored by the company. The federal minister appreciated Rolf Holmboe for his keen interest in boosting the clean and green energy in Pakistan. Official sources privy to the meeting said that Denmark based company Vestas’s officials were so much enthusiastic about the venture. When asked about the exact time for launching of the project, the official said that it is related with Alternative Renewable Energy Policy.

As soon the policy will get the approval the first process of auction will start, the source added. After the auctions, the company will be able to get the exact position of the country’s wind turbines market. When asked about the location of the factory, the source said that it will be somewhere in Karachi, where majority of wind power projects are located.