International solar module manufacturer, Canadian Solar has confirmed to PV Tech that it has signed a memorandum of understanding with the government of Punjab for future solar developments.
The chief minister of Punjab, Shahbaz Shariff, stated on his official Facebook page the Punjab government welcomed the agreement for US$2 billion of investment in a 500MW solar plant, due to be built in two stages of 200MW within one year, and a further 300MW to be complete during two years.
Canadian Solar’s director of investor relations, Ed Job, confirmed the MoU with the Punjab government for Canadian Solar to build solar power plants in Pakistan. In a statement to PV Tech, Job said: “Canadian Solar is committed to working with the Punjab government and we are hopeful that this opportunity will be fully realised. At this time there still is a lot of work ahead of us”.
Job could not confirm the 500MW figure.
He also said Canadian Solar is “delighted with the opportunity” and views this as a “sign of how strong the project business for Canadian Solar can be in many areas of the world”.
Pakistan currently suffers from severe energy shortages and load shedding. Shariff also said that “to achieve the low cost of electricity in the province plans are being made” and that solar and coal energy projects were preferred.