Staff Reporter Karachi
With its high solar irradiance, there is tremendous potential for Pakistan to harness solar power to meet its energy needs.
According to the World Bank, utilising just 0.071 percent of the country’s area for solar photovoltaic (PV) power generation would meet Pakistan’s current electricity demand.
However, much of Pakistan’s abundant solar resource remains untapped, with renewable sources currently fulfilling only around 4% of the country’s energy needs.
In order to achieve its national target to generate 30% of its energy from renewable sources by 2030, Pakistan will require greater private sector investment in renewable energy infrastructure, including high-quality, distributed solar solutions.
InfraCo Asia, a Private Infrastructure Development Group (PIDG) company, and AEPL have entered a joint investment and development agreement establishing Prism Energy –a joint venture company, to develop and implement commercial & industrial (C&I) solar projects across Pakistan, thus providing new and improved access to clean and renewable energy sources.
Prism aims to introduce international best practice to distributed solar development in Pakistan, by leveraging the development expertise of InfraCo Asia, as well as the on-ground experience of its local partner AEPL.
The newly commissioned solar plant, which is built on two rooftops of the Pearl Towers in Faisalabad, supplies affordable, reliable and renewable energy that is able to meet the energy needs of the commercial complex during the day.
