PRESS RELEASE | June 29th, 2023
Brussels - On June 9th RELP (formerly GREENMAP)* and the Private Power and Infrastructure Board (PPIB) have signed a Cooperation Agreement under which RELP will work with the PPIB to strengthen the design and the implementation of a national renewable energy (RE) programme aimed at attracting investment and scaling up clean energy generation at competitive prices in the Islamic Republic of Pakistan.
Within this Agreement, RELP will cooperate as an independent partner providing technical support and advisory throughout the design and implementation of a national multi-year RE procurement programme, in coordination with all relevant public entities and government partners.
As part of a joint work plan, RELP will support PPIB in the implementation of the Fuel Substitution Programme and the revision of the auction design package dedicated to a new RE bidding process. RELP will assess the feasibility and possible implementation of innovative programmatic de-risking instruments (such as the International Guarantee Trust Fund for Renewable Energy -iTrust-, currently under development). Also, RELP will support PPIB with new tools such as AREA (Analytics for Renewable Energy Auctions), its digital platform to provide data analytics and insights on various aspects of auctions design and implementation. RELP will support PPIB in the assessment of the short and medium-long term role of the national industry and its potential to effectively supply equipment and/or components for the construction and development of RE projects in the Country.
Throughout the implementation of this project, RELP will work together with PLANETIVE, an advisory firm focused on global climate action and future of energy, based in Islamabad, Pakistan (RELP’s implementation partner).
Both RELP and the Government of Pakistan are committed to fostering an environment conducive to investments and promoting innovation in the national RE sector. The partnership focuses on creating a robust RE ecosystem in Pakistan.
“With this collaboration, we embark on a transformative journey with the government of Pakistan to accelerate renewable energy adoption in the country,” said Sebastian Kind, RELP’s Chairman & CEO. “I am confident that this partnership will bring about significant change in their energy sector. Also, I would like to express my gratitude to PLANETIVE for their contribution in this collective endeavour,” he added.
“The Government of Pakistan is committed to achieve the targets set for increasing the share of renewable energy in the energy mix,” said Shah Jahan Mirza, CEO of PPIB Pakistan. “We believe that our collaboration with RELP would act as a catalyst for Pakistan’s clean energy transition and will stimulate private sector participation and investments in the renewable energy sector”.
About RELP (formerly GREENMAP)
RELP is an impact-driven and independent non-profit organisation. We focus on accelerating the deployment of renewable generation in developing economies by directly supporting governments in the design and implementation of stable regulatory frameworks, competitive procurement processes, and new financial and credit enhancement tools, including program-based guarantees.
We focus on implementation to facilitate bankability, foster competition, and boost the local and foreign investments needed to materialise project installations, local economic and social development, and the reduction of GHG emissions.
The PRIVATE POWER AND INFRASTRUCTURE BOARD (“PPIB”), is a statutory body corporate, established pursuant to the Private Power and Infrastructure Board Act, 2012 (the “PPIB Act”) to, inter alia, develop and implement power projects and related infrastructure in the private sector and on public-private partnership basis, and to promote, encourage and facilitate private sector investment in the power sector, which mandate includes facilitating development and generation of alternative and renewable energy on behalf of the Government of Pakistan.