K-Solar (Private) Limited, a subsidiary of K-Electric Limited, has successfully reached financial close for a groundbreaking renewable energy project in collaboration with Bulleh Shah Packaging (BSPL) and Faysal Bank Limited.
Green Vision Unveiled
The 7.36 MW solar project, situated at BSPL’s packaging unit in Kasur, Punjab, marks a significant achievement in the renewable energy sector. Valued at approximately Rs1 billion, the project has secured long-term financing from Faysal Bank and is set to commence commercial operations within six months.
Pioneering B2B Energy Purchase Agreement
Considered one of the largest private sector B2B energy purchase agreements, the project signifies a paradigm shift in the energy landscape. With a fifteen-year term, it aims to generate 10,466 megawatt-hours of clean energy in its first operational year.
Environmental Impact and Carbon Reduction
The initiative reflects K-Solar’s commitment to providing green and affordable energy solutions. It is anticipated to lead to a substantial reduction of approximately 72,262 metric tons of carbon emissions over its fifteen-year term, contributing significantly to lowering the industry’s carbon footprint.
Visionary Collaboration
Mr. Aamir Ghaziani, Chairman of the Board at K-Solar, expressed enthusiasm, stating, “Our partnership heralds a new era of sustainable energy, paving the way towards a brighter and greener future where we envision a transformative impact for years to come.” Mr. Salman Ahmed Khan, Head of Investment Banking at Faysal Bank, emphasized their focus on climate finance, saying, “We look forward to playing a positive role in fostering green and sustainable practices.”
This strategic collaboration exemplifies a shared vision for cleaner and more sustainable energy solutions. It underscores a dedication to advancing Pakistan’s industrial sector with environmentally friendly energy alternatives, setting an outstanding precedent for the renewable energy and distributed generation space in the country.
Source：dawn.com
