Engro Energy, a subsidiary of Engro Fertilizers(one of the biggest manufacturing companies in Pakistan) has decided to participate big time in the growing trend of producing renewable energy. The company will make Pakistan’s first solar-wind hybrid power plant privately that will produce 1 GigaWatt electricity by the year 2025.
Yusuf Siddiqui, the current CEO of Engro Energy, participated in the Annual State of renewable Conference 2022 and announced this new project. He said;
“We are setting up the first private sector run power plant outside of the government’s ambit, The one-gigawatt hybrid power plant (including thermal) will start producing 500 MW in the first phase by the end of 2024 and the remaining 500 MW will start production in 2025, at Jhimpir, Sindh.”
Siddiqui mentioned that the private sectors are not participating in the energy production and supply and the whole nation is dependent on the government for providing electricity. On the contrary, in Europe and America, private companies produce electricity and sell it to the private sector and both parties pay taxes to support the government. This way, some overload from the government is lifted and the economy is also helped. He said;
“The company will produce power on its own and sell it to the private sector. This is what is happening in the US and Europe. At present, the government is the sole purchaser of power nationwide. The plants operating on the government’s guarantee (rate of return) are mounting up...
Read Full Story: https://www.techjuice.pk/engro-is-going-to-install-pakistans-first-solar-wind-hybrid-power-plant-in-sindh/
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