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Business Recorder
15 hours ago
- Business
- Business Recorder
Pakistan's solar ‘revolution'
Pakistan, home to 240 million people, faces an energy paradox: surplus generation capacity alongside persistent electricity shortages. Despite an installed capacity of 44,000 megawatts (MW), nearly 40% of households endure over six hours of daily outages, costing the economy $18 billion annually in lost GDP. At the core of this crisis is a dysfunctional system dominated by Independent Power Producers (IPPs), which claim Rs. 900 billion annually in capacity payments, 64% of total costs for underutilized fossil fuel plants. These contracts, which guarantee payments regardless of actual electricity usage, have driven tariffs up by 75% since 2020, making Pakistani industries 35% less competitive than regional peers. Meanwhile, transmission losses of 17–20%, twice the global average prevent surplus power from reaching consumers. Yet, a promising solution lies in plain sight: solar energy. Pakistan's solar potential exceeds 2,900 gigawatt-hours annually enough to power the country 100 times over. However, solar contributes only 4% to the energy mix, despite its potential to deliver 40,000 MW by 2035. The path forward lies in decentralized rooftop systems rather than mega solar parks. Already, over 1,500 MW of rooftop solar has been installed, spurred by a 300% surge in net metering adoption in 2022. Scaling this to 12,000 MW by 2030 could reduce oil imports by $4 billion annually and create 500,000 jobs, according to the International Renewable Energy Agency (IRENA). A 2022 pilot in Punjab showcased the potential: rooftop solar redirected to industrial zones via wheeling agreements cut energy costs by 30% and boosted exports by $500 million. For every 1 MW of installed solar, 25–30 jobs are generated. If export zones adopt decentralized energy, GDP growth could rise by 2–3% annually, drawing foreign investment and expanding value-added exports. Replacing just 10% of fossil energy with solar would cut CO? emissions by 28 million tons annually, the equivalent of planting 650 million trees. Realizing this vision requires a decisive policy action. Redirecting capacity payments toward grid upgrades and rooftop subsidies is vital. Bangladesh's solar home system, which reached 20 million people, and India's 30% rooftop subsidy model provide successful blueprints. Bureaucratic delays remain a hurdle, net metering approvals can take up to six months, while grid modernization will require $3–5 billion. But with 80% of rooftop installations already driven by households and businesses, policy support, not public funding, is the missing piece. The numbers are compelling. A 20% shift to solar could reduce circular debt by Rs. 500 billion annually by 2027, according to IMF estimates. Pakistan's Rs. 2.6 trillion circular debt could instead finance 10 Mangla-sized hydropower projects decentralized solar presents a faster, more cost-effective alternative. As global markets shift toward sustainability, Pakistan stands at a crossroads. Continuing with the broken IPP model risks a deeper economic decline. Embracing decentralized solar could transform rooftops into revenue-generating assets, stabilize the grid, and reignite exports. With over 300 sunny days annually, Pakistan's energy future could be not just stable, but radiant. The current tiered tariff system penalizes higher consumption, hindering industrial growth. Moving to inverted slabs where per-unit costs decline with increased use could save a textile unit, consuming 25,000 kWh/month up to Rs. 375,000. This aligns with global best practices like Japan's 'Negawatt Trading,' where energy efficiency improves without compromising output. Such reforms could cut energy intensity by 12% and boost production by 8%. Smart integration of rooftop solar (targeting 12,000 MW by 2030), hydropower (25% baseload), and IPPs (used for peak loads) through advanced grids is essential. Brazil's smart grid model reduced transmission losses from 17% to 8%, saving $200 million annually, a strategy Pakistan could replicate. Pakistan must also reassess costly, loan-heavy projects like the ADB-funded Kanjhar Lake Floating Solar Park, which risk locking the country into debt and dependency on imported tech. Instead, policies should encourage domestic private investment in rooftop solar and land-based solar parks. Tax holidays for local solar manufacturing, streamlined land acquisition, and deregulated energy pricing can mobilize local capital for scalable, self-reliant projects. Rooftop solar requires no land and offers a 3-5-year payback period. Prioritizing it over flood-prone reservoirs could redirect $3 billion annually from oil imports into the domestic economy. With 80% of rooftop installations already privately financed, improving policy could rapidly accelerate deployment. Fast-tracking net metering approvals to 15 days and offering India-style 30% subsidies could attract $4.8 billion in private investment by 2030. Delaying action could result in $18 billion/year in GDP losses and missed climate targets. A phased rollout of smart meters by 2025, 8,000 MW of solar by 2028 could reduce CO? emissions by 28 million tons by 2030, while curbing circular debt and stabilizing electricity tariffs. Fixed monthly taxes of Rs. 5,000–10,000 on solar households would unfairly burden low-income families and deter adoption. Pakistan must prioritize green industrial zones powered by decentralized solar and equipped with digital grid technologies such as smart metering. Rather than relying on IMF or ADB loans, policies should promote domestic private investment. Tax incentives for renewable-powered industries, simplified project approvals, and ESG mandates for exporters can draw local capital. Emulating China's digital public infrastructure with real-time energy trading and AI-based demand forecasting would empower private players while reducing fossil fuel dependence. Banks should offer 2–3% low-interest loans with flexible repayment plans to enable households and SMEs to install solar systems. With extreme seasonal temperatures above 52°C in summer and below freezing in winter, the demand for energy-intensive appliances is rising. Household-level solar can reduce pressure on the national grid in summer and lower gas use in winter, enhancing energy resilience. To further mobilize capital, Pakistan could issue green bonds for industrial zones, supported by risk-sharing tools like partial credit guarantees. Deregulating energy pricing in solar zones would increase returns, following India's model that attracted $42 billion in private renewable investment since 2020. Globally, green zones in regions like Guangdong, China, have cut emissions by 28 million tons while boosting exports. With circular debt at Rs. 2.6 trillion, empowering private stakeholders through digital innovation and regulatory clarity is the most viable path to energy security, economic revival, and job creation—without adding to fiscal stress. As the fifth most populous country, with over 60% of its population under 40, Pakistan has a demographic edge. This digitally savvy youth is already driving IT exports, which surged in 2023–24. With the right policies, Pakistan could become a hub not only for IT and digital services but also for blockchain development and cryptocurrency mining. By tapping its abundant renewable energy—solar, hydro, and wind - Pakistan can attract global blockchain investments and emerge as a player in the decentralized digital economy. Copyright Business Recorder, 2025
Al Etihad
3 days ago
- Business
- Al Etihad
Tajikistan and UAE united in climate push as Dushanbe hosts glacier summit
29 May 2025 15:34 SARA ALZAABI (ABU DHABI)Tajikistan's Ambassador to the UAE, Ashrafjon Gulov, said that the partnership between the UAE and Tajikistan is becoming a driving force for climate and water diplomacy, as Dushanbe is preparing to host a major international summit on glacier preservation.'When it comes to the water and climate partnership, Tajikistan and the UAE have a common vision in the international arena,' Gulov told Aletihad in an said that the UAE's growing role and experience in shaping global climate policies will be a key asset in achieving the goals of the Dushanbe Glaciers Declaration. The Declaration is set to launch during the International Conference on Glaciers' Preservation, which kicked off in Dushanbe today and runs until June 1.'The UAE's enriched experience will significantly contribute to the advancement of the goals of the Dushanbe Glaciers Declaration, taking into account the country being recognised as a global partner in climate-forward policy, a host of COP28, and a significant global investor in sustainable energy.'Gulov also highlighted the Emirates Polar Programme, which supports scientific research and exploration to address global challenges, and the UAE's role as host of the International Renewable Energy Agency (IRENA), describing both as examples of the country's commitment to sustainability and shared vision has translated into a series of high-level engagements, with the Ambassador pointing out Tajikistan President Emomali Rahmon's participation in COP28 in Dubai, the visit of UAE Minister of Climate Change and Environment, Dr. Amna Al Dahak, to the Dushanbe Water Conference in June 2024, and the joint hosting of a High-Level Event on Glaciers' Preservation by both countries at COP29 in efforts will continue into this week's Dushanbe summit, held as part of the UN-declared International Year of Glaciers' Preservation. According to the Ambassador, the International Conference on Glaciers' Preservation seeks to bring global attention to the urgent need to protect glaciers as essential sources of water, energy, and food security.'By raising the need for glacier preservation, the Conference aims to align glacier preservation efforts with global goals for water availability, energy, and food security,' Gulov explained, adding that it will also focus on mobilising financial and technical resources to support the resilience of mountain communities and the sustainability of ecosystems conference also marks a culmination of Tajikistan's long-running advocacy to put water and climate at the centre of international diplomacy. Ambassador Gulov recalled that President Emomali Rahmon has led several initiatives adopted by the UN between 1999 and 2025, including the International Year for Fresh Water, the Water for Life Decade, the International Year of Water Cooperation, and the current Water for Sustainable Development Decade. The country has also championed the Dushanbe Water Process and launched the UN Groups of Friends on Water and Glaciers, with the goal of building lasting international momentum and coalitions around the protection of these critical home to 60% of Central Asia's water resources, is already witnessing the impact of glacial retreat. Over 1,300 of the country's 14,000 glaciers have disappeared, while the iconic Fedchenko Glacier has shrunk by 44 square kilometres. According to UNEP, more than half of Central Asia's glaciers could vanish by 2050, putting over 64 million people at said the conference will focus not only on scientific solutions like glacier monitoring, remote sensing, and engineering, but also on practical adaptation measures, including sustainable water management and terrace farming.'Sustainable agriculture can help protect mountain ecosystems. Among other practices, terrace farming, tailored to mountainous terrain, improves water management, reduces soil erosion, and preserves cultural heritage. Sustainable agriculture and water management, agri-food systems can help adapt to the climate crisis and increase livelihood resilience.'According to Gulov, concrete outcomes of the conference will include the Dushanbe Declaration on Glaciers, the Dushanbe Appeal, the launch of a Glacier Preservation Coalition, and new public-private partnerships to support climate-resilient infrastructure. The results will be carried into COP30 and the UN High-Level Political on the outcomes of the summit, the UAE and Tajikistan plan to present a united front at COP30, the Ambassador said, calling for the integration of glacier preservation into Nationally Determined Contributions (NDCs), increased climate finance for glacier-dependent regions, and the formal recognition of cryosphere issues within UNFCCC processes.'By presenting a united front at COP30, the UAE and Tajikistan could elevate the discourse on glacier preservation, ensuring it becomes a central component of global climate action,' he added. The partnership is also looking beyond COP30. Tajikistan and the UAE are collaborating closely in preparation for the 3rd UN Water Conference, which the UAE will co-host with Senegal in 2026. Gulov said both countries intend to keep climate and water at the core of their joint diplomatic efforts.
Arabian Business
28-04-2025
- Business
- Arabian Business
UAE and Peru strengthen relations as trade reaches $2.5bn
The UAE and Peru are developing economic and cultural relations as trade between the two nations reaches $2.5bn. Elmer Schialer Salcedo, Minister of Foreign Affairs of the Republic of Peru, emphasised that the relations between Peru and the UAE stand as a successful model of joint efforts to expand cooperation across vital sectors. Salcedo highlighted that bilateral relations began in the 1990s and have since seen significant growth, marked by the opening of Peru's Consulate General in Dubai in 2010. UAE and Peru trade This milestone has now been followed by another major step—the inauguration of Peru's Embassy in Abu Dhabi. He noted that annual trade between the two nations has now reached approximately $2.5bn. , which has led to a robust presence of Emirati companies in the Peruvian market. He stressed that both nations are committed to strengthening and advancing their relations to serve mutual interests. The minister also underlined the importance of establishing a clear and stable legal framework to create a favourable environment for businessmen and investors from both sides. He also stressed the need for transparent regulations that ensure stability and equal opportunities for all. Foreign Minister Salcedo also spoke about the deep cultural ties between the two peoples. He explained that Peruvian culture, influenced by Spanish heritage, has drawn aspects of its worldview from ancient Arab civilisation, as reflected in the presence of numerous Arabic-origin words in the Spanish language. This cultural commonality, he noted, serves as a bridge for greater intellectual and cultural understanding between Peru and the UAE. Regarding prospects for cooperation in technology and science, he praised the UAE's prominent global status in knowledge and academic research, particularly in artificial intelligence. He expressed Peru's keen interest in enhancing cooperation with Emirati institutions to transfer academic excellence to Peru. He also pointed out Peru's significant potential in renewable energy production, particularly in wind and solar energy. He expressed hope for deeper collaboration with the UAE, which hosts the headquarters of the International Renewable Energy Agency (IRENA), to leverage Emirati expertise in developing clean energy projects. Foreign Minister Salcedo extended thanks and appreciation to the UAE leadership, government, and people. He reiterated Peru's strong commitment to further advancing bilateral relations, fostering greater progress, prosperity, and development across areas of mutual interest.
Al Etihad
28-04-2025
- Business
- Al Etihad
US$2.5 billion trade exchange with UAE; working to solidify strategic partnership: Peru's Foreign Minister
28 Apr 2025 17:17 ABU DHABI (WAM)Elmer Schialer Salcedo, Minister of Foreign Affairs of the Republic of Peru, emphasised that the relations between Peru and the UAE stand as a successful model of joint efforts to expand cooperation across vital statements to the Emirates News Agency (WAM), Salcedo highlighted that bilateral relations began in the 1990s and have since seen significant growth, marked by the opening of Peru's Consulate General in Dubai in 2010. This milestone has now been followed by another major step—the inauguration of Peru's Embassy in Abu Dhabi. He noted that annual trade between the two nations has now reached approximately US$2.5 Peruvian Foreign Minister emphasised that this remarkable growth in bilateral ties reflects the dedicated efforts of entrepreneurs from both countries, which has led to a robust presence of Emirati companies in the Peruvian market. He stressed that both nations are committed to strengthening and advancing their relations to serve mutual minister also underlined the importance of establishing a clear and stable legal framework to create a favourable environment for businessmen and investors from both sides. He also stressed the need for transparent regulations that ensure stability and equal opportunities for another context, Foreign Minister Salcedo spoke about the deep cultural ties between the two peoples. He explained that Peruvian culture, influenced by Spanish heritage, has drawn aspects of its worldview from ancient Arab civilisation, as reflected in the presence of numerous Arabic-origin words in the Spanish language. This cultural commonality, he noted, serves as a bridge for greater intellectual and cultural understanding between Peru and the prospects for cooperation in technology and science, he praised the UAE's prominent global status in knowledge and academic research, particularly in artificial intelligence. He expressed Peru's keen interest in enhancing cooperation with Emirati institutions to transfer academic excellence to also pointed out Peru's significant potential in renewable energy production, particularly in wind and solar energy. He expressed hope for deeper collaboration with the UAE, which hosts the headquarters of the International Renewable Energy Agency (IRENA), to leverage Emirati expertise in developing clean energy projects. In conclusion, Foreign Minister Salcedo extended thanks and appreciation to the UAE leadership, government, and people. He reiterated Peru's strong commitment to further advancing bilateral relations, fostering greater progress, prosperity, and development across areas of mutual interest.
Emirates 24/7
14-04-2025
- Science
- Emirates 24/7
Fifty Years On: UAE captivates Expo 2025 Osaka-Kansai, with visionary tale of future-building
After a journey spanning more than half a century, the UAE has returned to make its remarkable presence felt in the heart of Japan, launching its distinguished participation in Expo 2025 Osaka-Kansai, following its initial participation in 1970. Under the theme 'Earth to Ether', the UAE national pavilion opened its doors today to tell the world the story of a nation that transcended the limits of dreams and transformed them into a lived reality. It's an inspiring narrative of deep-rooted cultural origins intertwined with lofty space ambitions, a profound commitment to sustainability, and future-oriented healthcare. The UAE pavilion pulsates with a unique sensory experience, taking visitors on a journey through three captivating stations, where Emirati and global success stories are embodied, and the path of brilliant Emirati talents and international scientists who have left their mark in vital sectors is illuminated. From space explorers to healthcare pioneers and sustainability stewards, these leaders draw inspiration from their rich heritage to serve the future and make a real difference. Inside the pavilion, Nawal Al Hosany, the Permanent Representative of the UAE to the International Renewable Energy Agency (IRENA), shines alongside environmental innovation pioneers, including Yousif Bin Saeed Al Lootah, Executive Director of SS Lootah Group and Chairman of Lootah Biofuels, and Maryam Al Mazrouei, a renewable energy engineer at Masdar. The pavilion celebrates global pioneers in artificial intelligence and hybrid energy, such as the innovative duo Hayk Vasilyan, Maryam Ahmed Hassani, Co-Founders of Hydro Wind Energy, as well as Martin Takáč and Samuel Horváth, machine learning scientists and professors at Mohamed bin Zayed University of Artificial Intelligence. The pavilion highlights the UAE's role in developing leading medical solutions through influential figures such as Dr. Fatima Al Kaabi, Executive Director of the Abu Dhabi Bone Marrow Transplant Programme at the Abu Dhabi Stem Cell Centre Ali Al Loghani, founder of the "Doctor Robot" project, and Dr. Habiba Al Safar, Professor and Dean of the College of Medicine and Health Sciences at Khalifa University, alongside international researchers in bioengineering and biology. Emirati astronaut Dr. Sultan Al Neyadi, Minister of State for Youth Affairs, stands out, surrounded by ambitious young Emirati leaders in the astronomy and space sector, including Mohsen Al Awadhi, Director of Space Missions at the UAE Space Agency, Nora Al Matrooshi, Emirati astronaut - UAE Astronaut Programme at the Mohammed bin Rashid Space Centre, and Moza Al Maalla, a doctoral student in astronomy and astrophysics at Harvard University. This station provides pavilion visitors the opportunity to explore the success stories of these dreamers who have soared with their nation's hopes towards the stars. Follow Emirates 24|7 on Google News.
