K-Solar (Private) Limited, a wholly owned subsidiary of K-Electric’s investment arm KE Ventures Company, has signed a memorandum of understanding (MoU) with China’s Mingyang Smart Energy Group Limited to jointly develop wind power and battery energy storage solutions in Pakistan.
Under the agreement, the two companies will collaborate to market, supply and finance wind power projects and battery energy storage systems (BESS) for the national grid as well as commercial and industrial customers.
The partnership also includes plans to establish a BESS assembly plant in Pakistan. A formal framework agreement is expected to be signed in the coming weeks.
K-Solar Chairman Muhammad Aamir Ghaziani said wind energy is becoming an increasingly competitive source of electricity in Pakistan and, when combined with battery storage, can enhance grid stability, manage the intermittency of renewable energy and support the country’s transition to a more resilient energy system.
K-Solar Chief Executive Officer Hashim Raza said declining global costs of wind power and battery storage technologies are accelerating renewable energy adoption worldwide.
He added that the partnership combines Mingyang’s advanced technology with K-Solar’s local market expertise and financing capabilities to tap Pakistan’s growing clean energy market.
Mingyang Smart Energy, one of the world’s largest wind turbine manufacturers and a leading supplier of utility-scale and industrial battery energy storage systems, said the collaboration would strengthen its presence in Pakistan.
Miao Desheng, General Manager of Mingyang Middle East and Africa, said Pakistan represents a key growth market for renewable energy.
He added that the partnership would cover the supply of wind turbines, battery storage systems, related electrical equipment and software, while supporting the development of local assembly capabilities to accelerate the country’s clean energy transition.-ERMD
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