Canada MoU with Pakistani province for 1GW of solar

Facebook
Twitter
LinkedIn
Reddit
Email
Foreign companies are interested by attractive upfront tariffs for solar in Pakistan. Flickr: Manalahmadkhan

A Canadian government entity has signed a memorandum of understanding (MoU) with the government of Pakistani province Khyber Pakhtunkhwa (KP) to cooperate on up to 1GW of solar energy projects in the region.

The Canadian Commercial Corporation (CCC) will help facilitate private companies to come in and contract with the KP government to set up renewable energy projects, a source at the trade department at the High Commission of Canada in Pakistan told PV Tech.

Location, project numbers and sizes have not been specified in the three-year MoU.

Discussing the purpose of the agreement, the source said: “The primary reason is that Pakistan is an energy deficient country. Because of that, they introduced policies which are attractive to foreign investors and foreign companies that want to invest in renewable energy.”

He also cited “attractive” upfront tariffs as a reason for various companies from Canada and other regions showing high interest in investing in both the wind and solar sectors in the South Asian country.

As the CCC is a government agency which facilitates government-to-government contracts, it helps private companies enter countries such as Pakistan and provides them with a form of cover if problems arise, added the source.

Last year Pakistan altered its solar feed-in tariff (FiT) rates for projects between 1-100MW capacity. The country also currently has 300MW under construction at the second phase of the project Quaid-e-Azam Solar Park (QASP) in Punjab.

Read Next

PV Tech Premium
September 8, 2022
Canadian module manufacturer Heliene is planning a further buildout of its US manufacturing base following the Inflation Reduction Act (IRA)
August 31, 2022
Inline solar cell measurement equipment specialist Aurora Solar Technologies (AST) has acquired PV equipment specialist BT Imaging for 63 million in common shares and over US$1.2 million in cash.
August 24, 2022
Two Indian state-owned companies, Bharat Electronics and NHPC, have signed a MOU to establish a gigawatt scale solar manufacturing site in India.
August 22, 2022
REC Silicon and Mississippi Silicon have entered into a memorandum of understanding (MOU) that commits the companies to negotiate a raw material supply agreement and help establish a low-carbon and traceable US solar supply chain.
July 27, 2022
Independent power producer (IPP) Scatec has ramped up project development activity after witnessing its earnings fall by nearly 14% year-on-year.
July 25, 2022
Module manufacturer and energy solutions company Hanwha Qcells has landed an agreement with Canadian Premium Sand (CPS) for the commercial offtake of patterned solar glass to support its US PV module production.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)