Islamabad, Dec 25: The National Electric Power Regulatory Authority (Nepra) has made significant amendments to its regulations, offering exemptions to renewable energy projects developed under the Inter-Governmental Commercial Transactions (IGCT) Act, 2022, as well as those committed under the Indicative Generation Capacity Expansion Plan (IGCEP) 2021.
The amendments, which were approved by Nepra Chairman Waseem Mukhtar and Members Amina Ahmed and Maqsood Anwar Khan, are designed to streamline the process for foreign-backed renewable energy projects. Notably, the changes aim to support the 600MW solar project by Saudi company ACWA Power in Kot Addu, which is nearing completion under the IGCT framework.
The revisions also address technical challenges faced by stalled projects from the IGCEP 2021, including the Gorkin-Matiltan Hydropower Project, and are expected to benefit around 400MW of renewable energy projects that are already committed.
The formal notification, issued under SRO 2720(I)/2024, outlines the regulatory adjustments and clarifies that certain provisions of the Nepra Act will not apply to these specific projects, either developed under the IGCT Act or committed before the implementation of the amended regulations. However, the amendments did face opposition from Nepra Members Mathar Niaz Rana and Rafique Ahmad Shaikh, signaling differing views on the changes.
These regulatory adjustments are expected to expedite the development of renewable energy in Pakistan by addressing technical and bureaucratic hurdles, particularly for large-scale projects backed by foreign investors.
