The Minister of Information said that a fundamental agreement has been signed with IPPs, which is the first major step towards providing cheap electricity to consumers. Two large IPPs groups withdrew, under mutual distrust, and the head of the IPP Advisory Committee (IPPAC), Khalid Mansour, who had led the discussions on the side of electricity producers, resigned. The MoU between the government and ipPs had two key clauses. One requested a reduction in performance, the other referred the issue of “excess profits” to the energy regulator, Nepra, which would review the accounts of the companies to determine whether the profits greater than the tariff allowed had been realized by these companies. It is this clause by which the process of completing the agreement was concluded in rocky waters. If we can make offshore wind cheaper and safer with technologies we already have, we will need a lot of equipment. If capacity increases, the offshore wind supply chain will be under siege as an increasing number of projects are given the green light. It will fight for equipment suppliers to keep up with demand. That is why the agreement set the dollar-rupee rate, and until the end of the agreement, it will remain stable at 148 billion. Each of these companies has now turned away from IPPAC and plans to continue the process of implementing the MOU individually with the government.
“IPPAC is now more or less dead,” said the leader of one of the angry PPIs. In the past, he said, costly agreements have been made with IPPs that weigh heavily on people. This is a sector that feels the weight of a huge opportunity, while looking at whether it can be achieved. Finally, this is a new ground, with even the most experienced offshore experts learning about the work. You wouldn`t be alone if you thought so. These estimates are almost impossible without digitization and automation, which are used in the right way by the right people, both of whom can offer much more than the industry has bugged. No one knows what the offshore industry will look like in 10, 20 or 50 years. However, the technology is available to reach a scale large enough to earn rewards that are no longer found in combustion performance. The waters are ready to host tens of thousands of wind turbines to sustainably fuel our future. That`s our stage.
It recently said an agreement for the production of 100 megawatts from solar power was colored with a company and under that agreement, the cost per unit of electricity would be only 3.7 cents.