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Korea keen to produce 300 MW from solar energy

Steel News - Published on Mon, 07 May 2012

The News reported that Korea has expressed keen interest to invest in the solar power projects by producing 300 MW in Pakistan in order to explore the solar potential and provide cheap electricity.

Dr Choi moon sok CEO of Concentrix Solar of Korea who called on federal minister for water and power Syed Naveed Qamar along with a four member delegation said that the company plans to set up first project of 50 MW within eight to 10 months while the total duration for 300 MW will be 3 years. The projects will be both off grid and on grid and mostly will be established in Sindh.

He said that the first initiative will be conversion of the Prime Minister House into solar power and it will be a gift from Korea to Pakistan. The Prime Minister House will be converted to solar energy within three to four months and will be off grid backed by batteries. Chandka Medical College, Larkana and Civil Hospital, Hyderabad were already being shifted to solar technology with the Korean loan.

Welcoming the delegation, the minister appreciated Korea for interest to invest in the power sector and said that upfront tariff would be announced soon for solar projects in order to encourage investors in this sector.

Dr Choi moon said that the government has exempted the solar panel and other related equipment from the sales tax and customs duty. The government has initiated solar water pumping project for agriculture sector and solar water heater with the help of donors.

He assured that the Pakistan government will support and facilitate the Korean investors and welcome their investment in the solar power projects.

Source - Thenews.com.pk

(www.steelguru.com)
Posted By : admin on Mon, 07 May 2012
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