ISLAMABAD: The Korean Government is to gift a modern solar power plant to Pakistan to mark forty years of friendly and prosperous diplomatic relations. The project would be established by the Economic Development Cooperation Fund (EDCFG) of South Korea.
In preparation of this event, the Korean embassy in Islamabad has planned to organize an interactive seminar on November 17, 2022 (today) with the theme of “Development Corporation Role of EDCF for promoting renewable energy”.
In Pakistan, around 10.57 per cent of the country’s total installed power generation capacity (in 2020) comes from renewable sources (wind, solar, and biogas) out of which the majority share is from hydroelectricity. As per the vision of the Prime Minister, the aim is to add 20 per cent of renewable energy by the year 2025 and 30 per cent of RE by the year 2030.
The Korean government, placing “climate change response” as one of the key goals of its new energy policy, has re-established the energy mix where the share of renewable energy will be increased to 21.6 per cent by 2030.
In this regard, the Korean government is focusing on the world’s first commercialization of next-generation solar power technology and on advancement of the domestic value chain in the wind power industry while serving as bridge between advanced and developing countries for greenhouse gas reduction and adoption to climate change in various climate negotiations.
Korean embassy has invited officials from the Ministry of Foreign Affairs, Ministry of Energy (Power Division), Economic Affairs Division and representatives of Korean and Pakistani companies specialized in renewable energy projects.
The purpose of the seminar will be to provide a platform where all sides can discuss in a synergetic manner and pave the way forward for a commonly sustainable and greener future of both countries in terms of climate and energy, which is in line with the visions of the Pakistani and Korean Governments.
Copyright Business Recorder, 2022