February 25, 2013 - Lahore—Punjab Chief Minister, Muhammad Shahbaz Sharif has said that German company AEG is executing 400MW and50 MW solar energy projects in Choolistan and investing Rs.100 billion in these projects which is an excellent gift of PML-N government to the people of Pakistan and Punjab. He said that 50MW project will start generating electricity in June 2013 whereas 400MW project will also be completed within a year.
He said that German company AEG will charge at the rate of 18 cent and sovereign guarantee will be sought from federal government for these projects. The Chief Minister said that Punjab government has also signed two Memorandum of Understandings (MoUs) with German company Energiequelle and Austrian company Andritz Hydro for cooperation in energy sector.
He was talking to media on the occasion of signing ceremony of two Memorandum of Understandings (MoUs) with energy companies of Germany and Austria at Model Town. Secretary Energy on behalf of Punjab government and Helmut Fugemann, Director Sales on behalf of German Company Energiequelle signed the MoU whereas Secretary Energy Punjab and representative of Austrian company Andritz Hydro signed the other MOU.
Special Assistant Zaeem Hussain Qadri, Senator Pervaiz Rashid, Begum Zakia Shahnawaz, MNA Pervaiz Malik and other officials were present on the occasion. Under the agreement, German company will install project of 300 MW solar energy whereas Austrian company will cooperate in hydel power projects.
Talking to media on the occasion, Muhammad Shahbaz Sharif said that vast opportunities of generating energy through coal, hydel and solar exist in Pakistan and Punjab government welcomes the investment by German and Austrian companies in energy sector. He said that Punjab government is serious in executing energy projects speedily. However, it is lamentable that NEPRA has yet not fixed per unit electricity rate for energy projects. Shahbaz Sharif said that he has raised voice a number of times in this regard but no attention was paid to it.
He said that an agreement has been made with German company AEG for producing electricity at 18 cent. He disclosed that federal government was interested to talk on 22 cent but now it has to give sovereign guarantee at the rate of 18 cent. The Chief Minister said that Pakistan is marching towards elections and German company will complete 50 MW solar energy project in June which is a gift for the coming government. Shahbaz Sharif said that he will lay the foundation stone of this project in Choolistan this month.
He said that investment of Rs.100 billion by German company in energy sector is a clear proof of our seriousness in energy sector. He said that the investors are very careful while going to Islamabad that they are not deprived of their wealth but they are investing in Punjab generously which is reflective of trust by investors in policies of Punjab government. Replying to a question, Shahbaz Sharif said that the coming government will have to face big challenge of energy crisis, however, if the people gave an opportunity of service, these challenges will be overcome under the leadership of Mian Nawaz Sharif.