Chinese Firm to Build Solar Panel Plant in Punjab

In a significant move towards enhancing renewable energy in Pakistan, the Punjab government has signed an agreement with Chinese solar company AIKO to establish a solar panel manufacturing and assembly plant in the province. The deal, supported by the Special Investment Facilitation Council (SIFC), was formalized by Punjab's Provincial Minister for Industry and Commerce, Chaudhry Shafay Hussain, and AIKO's South Pacific Region President, Alex Heng.

Minister Hussain emphasized that this will be Punjab's first solar panel manufacturing facility, catering to both local demand and export markets. He highlighted the importance of solar energy as a solution to reduce the burden of expensive electricity on industries and households.

Over the past five months, Minister Hussain has engaged with representatives from 21 foreign companies to promote solar energy investment in Punjab. Several companies have expressed interest, with the government assuring full support and cooperation.

The minister also announced plans to transition 7,000 tube wells to solar power and provide solar panels to low-income households either for free or on easy installment plans. Additionally, the government aims to establish a solar panel testing lab in Punjab and solarize the Garments City in Sheikhupura.

Hussain underscored that overcoming the energy crisis through such initiatives, backed by SIFC, is vital for ensuring a secure and prosperous future for Pakistan.