Solar PV Project of 600 MW Re-Tendered in Pakistan
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K-Electric and China Three Gorges South Asia Investment Ltd (CSAIL) have signed a memorandum of understanding (MoU) to explore renewable energy projects, including hydro, across the country, including Azad Jammu and Kashmir.
K-Electric and China Three Gorges South Asia Investment Ltd (CSAIL) have signed a memorandum of understanding (MoU) to explore renewable energy projects, including hydro, across the country, including Azad Jammu and Kashmir.
The MoU was signed by K-Electric CEO Syed Moonis Abdullah Alvi and CSAIL CEO Wang Minsheng. Both companies will also collaborate to create a plan for integrating grid-scale Battery Energy Storage Systems into KE's network.
CSAIL is a subsidiary of the China Three Gorges International Corporation (CTGI), which is the international business platform of China Three Gorges Corporation (CTG), focusing on clean energy investment, development and operation in more than 40 countries. CSAIL has 2.6 GW of generation assets in Pakistan worth over $6 Billion and is actively undertaking investments in hydel, wind, solar, and PV power projects across emerging markets in Asia, Middle East and North Africa.
“This is a milestone moment for Karachi and its customers, and I am very pleased to be present here today,” stated Moonis Alvi on the occasion.
“We are actively working to contribute positively to the country’s ambition to increase share of clean, sustainable, and affordable energy in our mix. It is exciting to be exploring these new frontiers with global giants CSAIL as partners. Their global experience will help take our efforts forward by leaps and bounds, and we look forward to working closely with them. Pakistan is no stranger to climate change, and the time for action is today. Induction of renewable energy is crucial to balance affordability for our customers with the impact on the environment,” he added.
While speaking on the occasion, Wang Minsheng stated that this would be another step by CSAIL toward Cleaner Energy, Better Pakistan. In keeping with the "Belt and Road Initiative" philosophy of innovation, integration, mutual development, and inclusion of local expertise, CSAIL has partnered with K-Electric to provide solutions for low-cost, clean energy, which is the foundation for economic growth in all emerging economies.
He stated that green energy not only helps to solve the problem of climate change, but also provides industrial consumers with a competitive advantage through cost optimization. Given the recent floods in Pakistan, we believe that incorporating renewable energy sources into the country's energy mix is becoming a necessity. We hope that this collaboration produces excellent results for both organizations and leads to the joint implementation of renewable energy projects in Pakistan.
K-Electric and China Three Gorges South Asia Investment Ltd (CSAIL) have signed a memorandum of understanding (MoU) to explore renewable energy projects, including hydro, across the country, including Azad Jammu and Kashmir.
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