Lahore: The National Electric Power Regulatory Authority (NEPRA) recently granted licenses to two local businesses for establishing solar power plants in Khyber Pakhtunkhwa (KP) and Sindh, a news source reported.
NEPRA approved the generation licenses for two solar power plants of 50 Megawatts (MWs) each. The authority granted a licence to Artistic Solar Energy (Private) Limited for the development of a solar power plant in the Sukkur district. The company is expected to invest USD 45 million in this project.
Siddiqsons Kohat Solar Limited received the second licence for establishing a solar power plant in the Kohat district, with a reported investment of USD 55 million.
NEPRA revealed that these projects would help in the utilisation of untapped renewable energy, along with increasing the share of pollution-free electricity. In a statement issued, the authority said that there was a global reduction in the prices of photovoltaic (PV) or solar cells. It added that this would lead to lower power tariffs — with NEPRA coming to this conclusion through “various determinations”.
The statement added that lower tariffs would decrease the overall basket price of electricity, which would help the public at large. In addition, NEPRA also highlighted the development of native resources — including renewable energy — for power generation to promote sustainable development.