KE signs multi-party MoU to add indigenous resource-based generation.

ISLAMABAD -- Committed to increasing reliance on indigenous sources of energy production to provide access to affordable energy for all, K-Electric (KE) on Tuesday inked a Memorandum-of-Understanding (MoU) with Government of Sindh (GOS), Oracle Power, and PowerChina for the potential development of 2x660 MW coal-fired power project based on Thar coal.

KE was represented by CEO Moonis Alvi, while Secretary Energy Abu Bakar Ahmed was present from the Government of Sindh, CEO Naheed Memon from Oracle Power and Cheng Qiang from PowerChina, said a press release.

Speaking on the occasion, Sindh Minister for Energy Imtiaz Shaikh stated 'Electricity is a fundamental driver of development and progress, and this collaboration is a big step in this direction. Once operational, this project will immensely benefit the entire province which is why we are committed to provide our full support until its maturity.'

The main objective of the MoU is to provide a collaborative framework for the partnering parties, setting the stage for the establishment of this ambitious power plant.

For KE, this move aligns with the company's forward-looking plan of enhancing its generation through addition of low-cost, indigenous fuel-based power.

The company has shared its vision of adding a total of 2,200 MW to its generation capacity by 2030, and increase its share of renewable energy to 30% of the overall mix.

The inclusion of such generation capacity also aligns with KE's future projections for the city, which envisages a customer base of 5 million using 5,000 MW of electricity by FY30.

CEO KE Moonis Alvi said 'As a company, our ambition and initiatives are towards achieving net zero, and tackling the energy trilemma which balances reliability, affordability and sustainability of energy supply. Our current partnership and our future plans will greatly enable us to reduce our reliance on imported fuels. Moving forward, we are also enhancing our share of renewable energy in the generation mix to provide affordable and sustainable electricity...