K-Electric to Double Pakistan’s Solar Energy Capacity in Next 2 Years

K-Electric Limited plans to add 640 megawatts of clean energy to its portfolio within the next two years which would double Pakistan’s solar energy capacity, reported Bloomberg. Chief Strategy Officer Shahab Qader Khan said the bidding process for this begins on August 19 (today) and will close next month. The projects will include 200 megawatts of hybrid solar wind generation. Solar energy makes up just 1 percent of the national energy mix, and K-Electric wants to alleviate some of the prevalent burden of electricity bills on residential consumers by reducing the country’s dependence on expensive fuel imports. Looking ahead, K-Electric plans to add 1,200 megawatts of renewable energy over the next five years, while scaling back on costly energy sources like liquefied natural gas and fuel oil. Pakistan currently faces high electricity costs due to heavy reliance on fossil fuel imports. It is pertinent to mention that monthly power bills have surged by 155 percent since 2021 and now exceed rent expenses for many households across the country.