DM Monitoring
BEIJING: In terms of wind power and photovoltaic power generation, China’s technology and cumulative installed capacity rank first in the world.
China has technology and capital, and Pakistan needs to develop renewable energy. Therefore, there is a great potential for cooperation between China and Pakistan in the field of renewable energy, Cheng Xizhong, Visiting Professor at Southwest University of Political Science and Law said on Sunday. Apart from hydropower and nuclear power, Pakistan’s renewable energy generation accounts for less than 1%. Nuclear power, hydropower and new renewable energy are all conducive to environmental protection, he wrote in an article.
In order to further promote renewable energy development, State Bank of Pakistan has reportedly increased the project financing limit of renewable energy from 1 billion rupees to 2 billion rupees. In addition, State Bank of Pakistan also allows the third category financing to companies specializing in the sale of solar and wind power. This means that these companies do not have to be qualified in accordance with the certification rules of the Alternative Energy Development Board (AEDB).
