Punjab government signs solar ventures with Europe and China

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The government of Pakistan’s Punjab province has signed a memorandum of understanding (MoU) for solar cooperating with a consortium of European countries and another with China North Industries Corporation (NORINCO) to combat Pakistan’s energy crisis.

The consortium of Switzerland, Germany, Italy and Austria signed the MoU with energy secretary Usman Bajwa yesterday.

The consortium will set up a plant for assembling and manufacturing solar panels, solar cells and batteries, in Faisalabad, and is also considering 400 solar power projects near industrial zones in Faisalabad, Sialkot, Gujranwala and Lahore – while a 150MW power plant will be set up along the motorway from Pindi Bhattian to Faisalabad.

Also as part of Pakistan’s efforts to increase solar investment and solve its energy crisis, Chinese enterprise NORINCO is to provide financing and technical assistance for solar energy and solar irrigation projects, and other infrastructure.  

“Nothing could be more important than a solution to the energy crisis, therefore the Punjab government is implementing a comprehensive program of encouragement for foreign investors,” Punjab chief minister Shahbaz Sharif said.

The Punjab government also has an earlier MoU in place with German solar company AEG, which is planning to build 450MW of PV in the province.

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