ISLAMABAD: K-Electric and China Three Gorges South Asia Investment Limited signed a memorandum of understanding (MoU) to collaborate in the development of about 1,000MW of renewable energy and hydropower projects.
According to a press release, K-Electric CEO Moonis Abdullah Alvi, and CTGSAIL CEO Wang Minsheng signed the MoU. The MoU will help generate renewable energy including hydro generation of 1,000MW (1 GW) at least.
Under the MoU, the two sides agreed to collaborate on exploring renewable energy including hydro projects across the country. Both companies will also work to develop a roadmap for the installation of grid-scale Battery Energy Storage Systems into KE’s network.
In addition, the KE is also working on the installation of solar energy in Balochistan and one hybrid project (solar and wind) in Sindh which will help reduce the electricity cost. For its solar plants, the KE has already submitted RFP (request for proposal) with Nepra for approval.It is worth mentioning here that the MoU came after National Electric Power Regulatory Authority (Nepra) last year announced that K-Electric’s exclusivity will end this year, after commentators from Karachi raised serious questions on power utility’s performance.
This would also allow new power companies to enter the market and challenge through competition the existing distributors.
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