France helps Pakistan face energy crisis

[A1Kaid]

Saturday, July 10, 2010

ISLAMABAD: Sibtain Fazal Halim, Secretary EAD, H.E. Mr. Daniel Jouanneau, Ambassador of France to Pakistan, and Mr. Yves Terracol, Country Director of the French Development Agency signed a financing agreement of 20 million euros which corresponds to the first tranche of an Energy Efficiency Investment Programme co-financed by the French Development Agency (AFD) and the Asian Development Bank (ADB) and amounting in total 1.1 billion USD.

The first tranche aims at promoting energy efficiency in residential lighting and consists of the free distribution of 30 million compact fluorescent light bulbs (CFL) to the Pakistani households.

This will help address the current energy crisis in Pakistan by reducing peak demand and give impetus to the promotion of energy efficiency by providing sufficient financing to permit a viable transformation of the lighting market.

In order to guarantee project success, the free CFL bulbs will be of excellent quality, with a lifespan of 10,000 hours, and with specific markings so that they cannot be resold on the market.

The expected fall in energy consumption will not only lower the energy bills of both households and public consumers, but will also lead to a reduction in green house gas emissions of 1 million tonnes of CO2 per year, allowing the country to benefit from 21.2 million euros worth of carbon credits over an eight-year period.

A Financing Framework Agreement (FFA), covering the whole Programme was also signed by the Secretary EAD and AFD Country Director. This Programme has been launched by the Government to help tackle the present energy crisis and prevent future crisis.

Source: France helps Pakistan face energy crisis

[Neo]

Energy efficiency promotion: Pakistan and France sign 20 million euros agreement

ISLAMABAD (July 10 2010): Pakistan and France on Friday signed 20 million Euros agreement to promote energy efficiency in residential lighting and free distribution of 30 million compact fluorescent light bulbs (CFL) to the Pakistani households. The agreement corresponds to the first tranche of $1.1 billion Energy Efficiency Investment Programme co-financed by French Development Agency (AFD) and Asian Development Bank.

Secretary Economic Affairs Division, Sibtain Fazal Halim, Daniel Jouanneau, Ambassador of France to Pakistan and Yves Terracol, Country Director of the French Development Agency signed the agreement. After its implementation, the project is expected to lead to a 1,100 MW reduction in peak demand, thus saving Pakistan 1,315 million Euros in investment that would have been necessary to meet the demand.

The free CFL bulbs will be of excellent quality, with a life span of 10,000 hours and with specific markings so that they cannot be resold on the market. The overall cost of the project is estimated at 61 million Euros, of which 20 million is financed by AFD.

The expected fall in energy consumption will not only lower energy bills of both households and public consumers, but will also lead to a reduction in green house gas emissions of 1 million tonnes of carbon dioxide (CO2) per year, allowing the country to benefit from 21.2 million Euros worth of carbon credits over an eight-year period.

A Financing Framework Agreement (FFA), covering the whole programme was also signed by the Secretary EAD and AFD Country Director. The programme has been launched by the government to help tackle the present energy crisis and prevent future crisis.

As a member of the group of Friends of Democratic Pakistan, France is very sensitive to the welfare of the Pakistani population and is committed to implementing projects providing sustainable development for the Pakistani people. France pledged 300 million Euros during the FODP summit in Tokyo last year.

The exceptional potential of Pakistan in terms of hydropower encourages both Wapda and AFD to jointly engage in other projects in the near future. The rehabilitation of the Jabban power plant in the Khyber Pakhtunkhwa province has already been approved and will be followed by other projects aimed at addressing Pakistan's energy crisis.

Business Recorder [Pakistan's First Financial Daily]