Chinese company to establish state-of-the-art three gigawatt solar panel manufacturing plant in Karachi
Newswire
Karachi: In a significant stride towards promoting clean energy and sustainable transportation, Chinese company Sinotec Solar is set to establish a state-of-the-art three gigawatt solar panel manufacturing plant in Karachi.
This ambitious project will not only focus on the production of solar panels but also extend to the manufacturing of industrial batteries and electric vehicle (EV) trucks.
The initiative aims to bolster Pakistan’s energy landscape and foster the growth of green technology.
The foundation for this transformative project was laid with the signing of a Memorandum of Understanding (MoU) to convert an existing thermal power plant into a cutting-edge 300 megawatt solar power facility.
This conversion, backed by foreign direct investment amounting to $200 million, marks a significant shift towards renewable energy solutions in Pakistan.
Meanwhile, Shanghai Electric Group has reinforced its commitment to Pakistan’s energy sector through substantial investments in the Thar Coal Block-1 project.
This move underscores the company’s dedication to enhancing the country’s energy infrastructure.
In tandem with these developments, major oil refineries including Attock Oil Refinery, National Oil Refinery, and Cnergyico Private Limited are undergoing upgrades to comply with Euro-V standards. This upgrade is a critical step towards reducing environmental pollution and improving fuel quality.
The Special Investment Facilitation Council (SIFC) has emerged as a key player in driving improvements within the energy sector.
One of its notable initiatives includes the establishment of an Anti-Theft Task Force to combat electricity theft. To date, the task force has successfully recovered a staggering 95 billion rupees, reflecting its efficacy and the scale of the issue it addresses.
In addressing the perennial challenge of circular debt, concrete measures are being implemented. A comprehensive strategy has been formulated to manage and significantly reduce this financial burden, which has long plagued the energy sector.
Progress is also being made in the realm of solar energy with the successful installation of a one megawatt solar project in Gilgit-Baltistan and a 150 megawatt project in Sukkur. These projects are part of the broader push towards renewable energy adoption across the country.
Adding to these advancements, the Saudi Fund for Development has extended its cooperation in two ongoing hydropower projects in Azad Jammu and Kashmir, further enhancing the region’s clean energy capabilities.
The collective efforts signify a robust and multifaceted approach to transforming Pakistan’s energy sector, aligning with global trends towards sustainability and clean energy.
