LAHORE: A major development in Punjab’s renewable energy sector took place as a Chinese company signed an agreement with the provincial government to establish a solar panel manufacturing and assembly plant in the region. The agreement was signed by Provincial Minister of Industries and Commerce, Chaudhry Shafay Hussain, and Alex Hang, President of the South Pacific Region of AIKO, a leading Chinese solar energy firm.
The new facility will be the first of its kind in Punjab, aimed at supplying solar panels to local markets and for export. Minister Chaudhry Shafay Hussain highlighted the critical need to promote solar energy as a solution to counter the rising costs of electricity for both industries and households. He noted that over the past five months, he had engaged with representatives from 21 foreign solar energy companies, with several expressing strong interest in investing in Punjab’s solar energy sector.
The Punjab government is also planning to convert 7,000 tube wells to solar energy and provide solar panels, either free or on installment plans, to low-income residents. A solar panel testing laboratory is also planned for the province. Additionally, a garment city being constructed on 650 acres in Sheikhupura will operate entirely on solar power.
During the signing ceremony, three additional Memoranda of Understanding (MoUs) were signed between Chinese companies and local investors, further strengthening the collaboration in the renewable energy sector.
