The Punjab government has entered into an agreement with Chinese solar company AIKO to set up a solar panel manufacturing and assembly plant in the province. This collaboration is a significant step forward in Punjab’s efforts to boost renewable energy production and support economic growth.
The contract was signed by Punjab’s Minister of Industries and Commerce, Chaudhry Shafay Hussain, and Alex Heng, the President of AIKO’s South Pacific Region. The signing was facilitated by the Special Investment Facilitation Council (SIFC) as part of the Rising Pakistan project, which aims to attract foreign investment and foster industrial development.
The upcoming solar panel factory will cater to the demands of both the local market and international exports, positioning Punjab as a key player in the solar energy sector. This initiative is expected to create job opportunities, reduce energy costs, and contribute to the province’s sustainable development goals.
In addition to the factory, Chaudhry Shafay Hussain announced plans to convert 7,000 tube wells in the region to solar power. This move is aimed at reducing the reliance on traditional energy sources and promoting the use of clean, renewable energy in agriculture.
The minister also mentioned that other foreign investors have shown interest in similar projects, indicating a growing confidence in Punjab’s investment climate. This partnership with AIKO is just the beginning of what could be a larger wave of international investments in the province’s renewable energy sector.
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