Islamabad: The Water and Power Development Authority (WAPDA) has sought financing from the World Bank (WB) to establish Pakistan’s first 300-megawatt (MW) floating solar power project, news sources reported on April 20. The Floating Solar Project (FSP) is proposed to be installed at the Ghazi Brotha Hydroelectric Power Plant.
It was reported that the WB team of experts will visit Pakistan and will remain here for 10 days for extensive consultations with all stakeholders, such as the Ministry of Water Resources, WAPDA, and the Economic Affairs Division. Following the visit, the World Bank team would provide a feasibility report on the project, detailing the proposed financing structure as well as the estimated Return on Investment (ROI) in the following term.
According to the information published, a 150-MW floating solar subproject would be installed in the Ghazi Barrage headpond, while another of comparable capacity will be installed in the forebay of the current Ghazi Brotha Hydropower plant. The project has been offered as an alternate energy source to traditional coal-based and furnace oil-based power projects.
It is critical to remember that the country’s energy consumption is increasing, with more electricity supply required by 2030. The overall energy required to support industrialisation is estimated to be roughly 54 Gigawatts (GWH). However, renewable energy accounts for only a modest portion of total energy use. According to the research, Pakistan’s installed capacity by the end of 2020 was 39-GWH, which originated from 36% gas resources, 25% hydropower plants, and 18% oil reserves.