The Punjab government and a Chinese solar energy company signed an agreement for solar panels local manufacturing on Saturday.
Punjab Minister of Industry Chaudhry Shafay Hussain and China’s Aiko solar energy company officials signed an agreement here. “The Chinese company under the agreement will install solar panels manufacturing plant in Punjab,” the minister said.
Chaudhry Shafay said that India is manufacturing solar panels and earning one billion dollars in exports. “We will collaborate with foreign companies in solar energy sector”, he said.
The minister said that a plan has been under the hammer to shift 7,000 tubewells in Punjab on solar energy.
“The government will provide solar panels to low-income people for free or on the easy instalments,” the minister said. The government will establish the solar panels testing lab in Punjab, he further said.
“We are also planning garment city in Sheikhupura on 600 acres of land,” he added. The provincial government aims to boost its solar energy sector by establishing local manufacturing facilities, with key investments from Chinese companies.
Meanwhile, the prices of solar panels in Pakistan have witnessed another significant drop, bringing relief to consumers looking to switch to renewable energy.
According to dealers in Karachi, the cost per watt of solar panels has now decreased to between PKR 30 and PKR 32.
This reduction comes as a result of a sharp decline in global lithium battery prices, which have plummeted by 50% over the past year.
