Chinese provider playing increasingly pivotal role in Pakistan's PV sector
Business
Chinese provider playing increasingly pivotal role in Pakistan's PV sector
BEIJING (APP) –The Alternative Energy Development Board (AEDB) plans to install about 9.7GW of renewable energy power generation systems throughout Pakistan by 2030.
The government’s strong support and policy continuity are strong guarantee of our business development, noted President of Zonergy Solar Development, Pakistan Richard Guo, while taking an exclusive interview with the China Economic Net.
Minister of State for Petroleum Musadik Masood Malik stated that the PM constituted a task force on solar energy initiatives with a vision to promote sustainable and green energy.
The government is working on a comprehensive solar energy package comprising tax waivers and concessionary loans for consumers in a bid to overcome the prolonged power outages.
As the Government of Pakistan strives to make transformational changes in the power system by exploring affordable alternative energy sources, Chinese companies are playing a leading role as installers and service providers for on-grid, off-grid, and hybrid energy in the country.
Talha Azher, Vice President of Investment Banking, KASB Securities Limited, pointed out in a survey that the total foreign investment in photovoltaic plants of Pakistan is USD 144 million, of which the total Chinese investment in Pakistan reached USD 125 million.
“If PV can be installed on every roof, those who suffer from heat and load shedding can generate their own electricity at least for the whole day,” the Minister further suggested.
A recent list issued by the Alternative Energy Development Board, Ministry of Energy showed that amongst the certified installers under AEDB (Certification) Regulations, 2021, Category C-1 (up to and above 500 kW), Chinese photovoltaics provider Zonergy (Tianjin) Company Limited, which has captured over 30 percent market share of distributed optical storage, is on top of the list of 84 companies.
According to Richard Guo, due to a huge power gap, residential electricity prices remain high, Pakistan has a good market demand for large-scale ground power stations, industrial and commercial distributed power stations, as well as residential rooftop distributed power stations.
