AIKO To Set Up Solar Manufacturing Plant In Punjab

LAHORE, (UrduPoint / Pakistan Point News - 10th Aug, 2024) Punjab government and China's solar energy company AIKO have signed an agreement

to set up the first solar panels manufacturing plant in Punjab.

According to the agreement, the Chinese company will set up a solar panels manufacturing and assembling plant in Punjab. Provincial Minister of Industries and Commerce Chaudhry Shafay Hussain and President of South Pacific Region of Chinese Company Mr. Alex Hang signed the agreement in a ceremony held at a local hotel on Saturday. CEO Centurion Energy company Faisal Javed, Officials  of Chinese company and investors participated in a large numbers. 

On this occasion, Provincial Minister said that the Chinese company AIKO will set up the first solar panels manufacturing factory in Punjab, which will make solar panels in Punjab and will supply these panels in the local market and export as well.He said that India  is producing solar panels and is also  exporting solar panels worth a billion Dollars every year.  Provincial minister said that  the only solution to save industry and homes from expensive electricity is the promotion of solar energy.

In the last 5 months, I have met more than 21 foreign solar energy companies. Many companies have shown interest in investing in the solar energy sector in Punjab. The government will also collaborate with energy companies in the solar energy sector.

Chaudhry Shafay Hussain said that Punjab government is planning to convert  7000 tube-wells on solar energy, the government will  also provide solar panels free  and in instalment to low income people.He said that  a garment City is being built on an area of 650 acres in Quaid-i-Azam business Park Sheikhupura and the garment  city will also be on solar energy, the provincial minister of industry and commerce said that we will work together to provide cheap electricity to homes and institutions.The provincial minister announced that a solar panel testing lab would be set up in Punjab. If every department works hard, then there is no need to take a loan from any financial institution including the IMF, he concluded. Chinese company officials and local investors also addressed the ceremony in which three MoUs were also signed between Chinese company and local investors.