The Punjab government has signed a significant agreement with Chinese solar energy company AIKO to establish the first solar panel manufacturing plant in Punjab. This landmark partnership represents a major step forward for the region’s solar energy market, aligning with global energy market trends and green energy policies.
Groundbreaking Agreement to Boost Solar Technology in Punjab
Minister of Industries and Commerce Chaudhry Shafay Hussain and Alex Hang, President of AIKO’s South Pacific Region, signed the agreement at a ceremony in Lahore. The event was well-attended, with key stakeholders including Faisal Javed, CEO of Centurain Energy, officials from the Chinese company, and numerous local investors.
Chaudhry Shafay Hussain highlighted the importance of this development for Punjab’s energy landscape. “AIKO will set up the first solar panel manufacturing factory in Punjab,” he announced. This facility will produce solar panels not only for the local market but also for export, contributing significantly to the global solar energy market.
Expanding Solar Energy Investments and Infrastructure
The new solar panel plant is part of Punjab’s broader strategy to embrace solar technology and reduce dependency on costly electricity. The minister noted that India currently produces and exports solar panels worth billions of dollars annually, a model Punjab aims to replicate.
To further promote solar energy, the Punjab government is planning several initiatives. These include converting 7,000 tube wells to solar energy and providing solar panels to low-income households either for free or on installment plans. Additionally, the government is developing a garment city on 650 acres in Quaid Azam Business Park, Sheikhupura, which will operate entirely on solar energy.
Strengthening Local Solar Market Through Innovation
In a bid to ensure quality and innovation, the provincial minister announced the establishment of a solar panel testing lab in Punjab. This lab will play a crucial role in maintaining high standards for solar technology produced in the region.
Chaudhry Shafay Hussain emphasized the potential of Punjab’s energy sector, stating, “If every department works diligently, there will be no need to seek loans from financial institutions like the IMF.” He added that Punjab’s partnership with AIKO and other energy companies will help deliver affordable electricity to both homes and institutions across the province.
Strategic MoUs to Foster Solar Energy Development
The ceremony also saw the signing of three Memorandums of Understanding (MoUs) between AIKO and local investors, further solidifying commitments to developing solar energy infrastructure in Punjab.
This partnership with AIKO is expected to position Punjab as a key player in the solar energy sector, attracting further solar energy investments and fostering sustainable developments in the region’s energy market.
Source：dunyanews.tv
