Ahmed Mukhtar Naqshbandi
ISLAMABAD/KARACHI: K-Electric (KE) and China Three Gorges South Asia Investment Limited (CTGSAIL) on Tuesday signed a memorandum of understanding (MoU) to join hands for the production of 1,000 Megawatts (MW) of clean renewable energy and its storage.
Under the MoU, China Three Gorges Corporation will install 2.6 Gigawatts power projects worth $6 billion and actively undertake investments in hydel, solar, wind, and PV power projects across emerging markets in Asia, North Africa, and the Middle East.
Under the agreement, K-Electric will take steps to install batteries in its large grid systems, which will enable the storage of energy.
KE CEO
K-Electric Chief Executive Officer (CEO) Moonis Abdullah Alvi said that the agreement is aimed at increasing the production of clean, sustainable, and affordable energy in the country’s energy mix.
The renewable energy projects will be implemented in different areas of the country, including Azad Jammu and Kashmir (AJK); he added.
