ISLAMABAD, (TDI): Punjab Chief Minister Maryam Nawaz Sharif has extended an invitation to China’s Jinko Solar to establish a manufacturing plant in Pakistan’s most populous province.
The invitation was made during a televised address following her visit to Jinko Solar’s factory in Shanghai on Friday.
Pakistan’s energy sector has long faced financial difficulties, including circular debt, power theft, and transmission losses, leading to frequent blackouts and high electricity costs.
However, experts believe the country has ideal conditions for solar energy, with over nine hours of daily sunlight in most regions. The World Bank has noted that utilizing just 0.071% of Pakistan’s land area for solar power could meet the entire country’s electricity demand.
Currently, renewable energy sources like wind, solar, and biomass account for only 5.4% of Pakistan’s total power generation capacity of 39,772 megawatts, with fossil fuels still comprising 63% of the energy mix. Hydropower makes up the remaining 25%, according to the National Electric Power Regulatory Authority.
During her visit to Jinko Solar, CM Sharif emphasized the country’s abundance of solar resources. “Pakistan is a country that has sun all the time,” she said, adding that the demand for solar energy in the country was growing rapidly.
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She highlighted Pakistan’s large population of around 240 million people and the potential to make the country one of Jinko Solar’s top markets.
Sharif further noted that the cost of electricity in Pakistan was decreasing, and the country had a ready workforce, along with the necessary infrastructure for setting up manufacturing units. “We also have tax-free zones offering all the facilities required for such investments,” she added.
In addition to inviting Jinko Solar, CM Sharif mentioned the Punjab government’s efforts to encourage solar energy use. She announced two new projects that would provide free solar panels to households consuming 200 or fewer units of electricity.
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Additionally, the government is planning to offer long-term, interest-free loans for households using between 200 and 500 units of electricity. This project is set to launch within the week.
A recent World Economic Forum report revealed that Pakistan is now the sixth-largest solar market in the world.
