ACWA Power Company to invest $ 4 bln in RE sector.

ISLAMABAD -- Saudi Arabia power producing company 'ACWA Power' will invest around $ four billion in country's renewable energy (RE) sector.

The investment would be made mainly in Balochistan by set up solar power plants, sources told reporter here.

They said generation of cheap electricity utilizing indigenous renewable energy resources including wind, solar, waste to energy biomass was amongst the top priorities of the government.

Alternative Energy Development Board (AEDB) had also been pursuing the development of alternative and renewable energy based power generation projects through private investors under the Renewable Energy Policy 2006 on IPP mode, they said.

They said significant progress had been made in exploiting the wind, solar and biomass/bagasse potential...