February 06, 2023 (MLN): K-Electric and China Three Gorges South Asia Investment Ltd (CTGSAIL) have joined forces to explore the potential for renewable energy projects in Pakistan.
The two companies have signed a Memorandum of Understanding (MoU) to work together on projects, including hydro projects and the installation of grid-scale Battery Energy Storage Systems.
With over 3.4 million customers, K-Electric is committed to providing clean and affordable power to the people of Pakistan.
CTGSAIL, a subsidiary of the China Three Gorges Corporation, is focused on investing in and developing clean energy projects around the world.
With 2.6 GW of generation assets in Pakistan worth over USD 6 billion, CTGSAIL is well placed to bring its expertise to the table.
The CEO of K-Electric, Syed Moonis Abdullah Alvi, said, "This is a milestone moment for Karachi and its customers.
We are actively working to contribute positively to the country's ambition to increase the share of clean, sustainable, and affordable energy in our mix."
Meanwhile, the CEO of CTGSAIL, Wang Minsheng, added, "This partnership will provide solutions for low-cost, clean energy, which is crucial for economic growth in emerging economies."
With the effects of climate change becoming increasingly apparent in Pakistan, the addition of renewable energy sources to the country's energy mix is becoming a necessity.
The partnership between K-Electric and CTGSAIL represents a significant step forward in the country's efforts to address these challenges.
