K-Solar (Private) Limited, a wholly owned subsidiary of K-Electric’s investment arm KE Ventures Company (Pvt) Limited, and Mingyang Smart Energy Group Limited, one of the world’s largest wind turbine manufacturer and a major global supplier of utility-scale and industrial Battery Energy Storage Systems (BESS), have signed an agreement to bring Mingyang’s solutions to the local industry in Pakistan.
Under the memorandum of understanding (MoU), K-Solar and Mingyang will partner to market, supply and finance wind power projects and BESS for grids and commercial and industrial sectors in Pakistan – while also laying the groundwork for a BESS assembly plant in the country. The two companies will follow up this MoU with a formal framework agreement in the coming weeks.
Muhammad Aamir Ghaziani, Chairman K-Solar, said: “Wind power has been gaining significant attention in Pakistan’s energy transformation, offering a competitive, low levelised tariff that makes it an attractive complement to the country’s existing generation mix. As Pakistan moves toward a more diversified and resilient energy system, scope for BESS also remains immense for supporting grid stability, managing intermittency and unlocking the full value of renewable generation.”
Hashim Raza, CEO K-Solar, said: “Pakistan’s energy transition depends on bringing together world class technology and local financing and execution. Both wind power and battery storage have witnessed a decline in pricing in recent years, driving a new wave of renewable energy adoption globally. K-Solar-Mingyang partnership is well-placed to capitalise on this trend and capture a sizable share of Pakistan’s growing wind and energy storage markets.”
Miao Desheng, GM of Mingyang MEA, said the company, an integrated energy solutions provider, was pleased to deepen its presence in Pakistan through this collaboration with K-Solar. “Pakistan represents a significant growth market for wind and storage solutions, and partnering with K-Solar gives us a strong local platform to deliver on this opportunity. We look forward to working together, from supplying turbines, BESS technology, other associated electrical equipment and software to facilitating local assembly capabilities to further boost Pakistan’s transition to clean and affordable energy.”