K-Electric and China Three Gorges South Asia Investment Limited (CTGSAIL) inked a Memorandum of Understanding (MoU) on Monday to collaborate on researching renewable energy projects, notably hydro projects, across the country.
According to a press release:
The companies will work together to set a timeline for introducing grid-scale Battery Energy Storage Systems to KE’s network.
The MOU was signed by K-Electric CEO Moonis Abdullah Alvi and CTGSAIL CEO Wang Minsheng.
The arrangement will generate at least 1,000MW (1 GW) of renewable energy.
K-Electric will transport the less-priced hydel from the aforementioned projects after paying wheeling fees (to be established by Nepra and the government) to the National Transmission & Despatch Company (NTDC).
To reduce electricity costs:
KE is also attempting to develop solar energy projects in Balochistan and one hybrid project (solar and wind) in Sindh.
KE has already published an RFP (request for proposal) for its solar farms with Nepra’s authorization.
CTGSAIL is a branch of China Three Gorges International Corporation that works in over 40 countries (CTGI).
It focuses on investments in sustainable energy development.
CTGSAIL has 2.6 gigatonnes of production capacity in Pakistan, valued at more than $6 billion.
In addition,
The corporation is investing significantly in hydro, wind, solar, and photovoltaic power projects in emerging nations throughout Asia, the Middle East, and North Africa.
Moonis Alvi, CEO of K-Electric, stated on the occasion:
“This is a milestone moment for Karachi and its customers, and I am very pleased to be present here today.
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.”
He further added:
“It is exciting to be exploring these new frontiers with global giant CTGSAIL as a partner.
Their global experience will help take our efforts forward by leaps and bounds, and we look forward to working closely with them.
Pakistan is no stranger to climate change, and the time for action is today.
Induction of renewable energy is crucial to balance affordability for our customers with the impact on the environment.”
While CTGSAIL’s Wang Minsheng stated that this would be another step in the path of cleaner energy and a better Pakistan.
The CTGSAIL has collaborated with K-Electric to deliver low-cost, sustainable energy solutions, which are the cornerstone for economic success in all rising nations.
This enterprise adheres to the ideology of the “Belt and Road Initiative” of innovation, integration, mutual growth, and incorporation of local skills.
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Pavan Manzoor is an experienced content writer , editor and social media handler along with a track record of youth-oriented activities in Pakistan and abroad. She was selected as a fully-funded delegate as a leadership fellow in Turkey. She also led a team of 5 volunteers at the week-long Young Professionals Fellowship in Maldives. She is also a member of the Youth Standing Committee on Higher Education.
