A leading solar energy supplier has committed to digging deep into the solar market – China Economic Net

LAHORE, May. 31 (Gwadar Pro)C Currently, LONG’s footprint in Pakistan is approximately 5 GW. I believe we are well positioned to seize such an opportunity to further our efforts towards a green future for Pakistan.

In recent months, clean energy has experienced a new period of rapid growth, with global renewable energy capacity expected to increase by 50 percent in 2023 compared to the previous year. Pakistan aims to become an important center for renewable energy development in South Asia and the entire Asian region and is vigorously promoting the green transformation at the national level.

According to the report, the Sindh government recently announced that it will provide solar PV systems to 200,000 households across the province, including 50,000 homes in Karachi. The director of Sindh Solar Energy confirmed that a total of 6,656 solar PV systems would be deployed in each district of the province. Ali Majid, Pakistani CEO of leading solar solutions provider LONGi, believes that this is undoubtedly good news for the Pakistani solar industry and especially for Chinese solar companies that are deeply involved in the local market.

Ali (R1) talking to his partner (photo given to GP)

The systems will include solar panels, charge controllers and batteries. Currently, Sindh generates 400 megawatts of electricity from solar energy. This project is expected to significantly increase solar energy production in the province.

Pakistan, located in a region blessed with abundant sunlight, boasts of a solar energy potential of around 2.9 million MW, Ali told Gwadar Pro. And while the initial cost of solar technology is intimidating, the decreasing global cost makes it more economically viable for Pakistan.

Our government is focusing on the development of centralized large-scale solar projects, including solar parks and utility-scale solar installations, GM added, these distributed home solar systems will help work in synergy with centralized large-scale solar grids, boosting the country’s overall power generation capacity from renewable sources and help diversify the energy mix.

Photovoltaic power generation, as the best choice to solve Pakistan’s energy shortage problem and optimize its largely fossil fuel-based energy structure while saving foreign exchange required for energy imports, has enormous potential for future development. As of now, the solar market in Pakistan is witnessing rapid growth and a compound annual growth rate (CAGR) of 49.68% is expected from 2023 to 2028. Government initiatives aim to increase the share of solar energy in the country’s energy mix, with a target of sourcing 30% of the country’s energy from renewable sources by 2030.

LONGi solar project in Pakistan (photo provided to GP)

In recent years, the government of Pakistan has successively formulated a number of related policies, due to which the solar industry in the country has shown good development potential. According to Pakistan’s long-term energy plan – Indicative Capacity Expansion Plan (IGCEP), the total installed solar capacity will reach 12% or 13.2 GW by 2030 and the government will continue to provide maximum support to renewable energy projects. The global photovoltaic industry is developing at full speed. Cooperation between China and Pakistan in related industries can make an appropriate contribution to the global response to climate change, Majid stressed. By providing high-quality solar panels and promoting sustainable energy solutions, LONGi is helping the country achieve its renewable energy goals.

This article originally appeared on Gwadar Pro.