LAHORE - Allocation of funds for energy projects registered increase around Rs10 billion in Punjab’s annual budget for fiscal year 2014-15 to Rs31 billion against Rs20.43 billion during 2013-14.

According to the budget documents, the Punjab government has started the Solar Power Plant near Bahawalpur and the plant is scheduled to generate 100-MW electricity by December 2014. The provincial government has fixed Rs17 billion for the completion of the project from the total allocation of energy projects. The remaining Rs13.43 billion would be utilised on coal based power generation initiatives at six different sites of 1,320MW in Punjab and different bio-mass and hydropower generation projects. Total generation capacity in the province is only 9564MW against its requirement of 14000MW which is increasing at pace of 8 per cent per annum. The provincial government stated that FY 2014-15 will witness a major thrust towards renewable energy sources and energy efficiency and conservation initiatives.