Chinese Solar Company Targets Growth Opportunities in Pakistan Market
Pakistan’s demand for solar energy is on the rise as both households and businesses increasingly view solar power as a reliable and cost-effective electricity source.
Official data reveals that Pakistan imported solar products worth $1.11 billion from January to September 2023, equivalent to approximately 4GW of modules. This coincides with the Private Power and Infrastructure Board (PPIB) releasing framework guidelines in September 2023 to streamline power purchase agreements for solar projects and promote solar integration onto public building roofs.
Trina Solar, a global leader in smart PV technology and energy storage solutions, anticipates significant growth in the Pakistani market, buoyed by reforms in solar initiatives, fluctuating fuel prices, and rapid advancements in solar technology. The company’s strategic focus on reducing solar project Levelised Cost of Energy aligns with market dynamics and preferences for high-power output modules.
Having undertaken projects across various market segments in Pakistan, including residential, commercial, industrial, and utility scale, Trina Solar’s Asia Pacific Head, Dave Wang, underscores the company’s commitment to empowering diverse entities across Pakistan. Wang highlights the significant impact on households and businesses, emphasizing the financial benefits of reducing electricity costs and providing an alternative power source amidst prolonged blackouts.
Wang illustrates the financial benefits with an example of a residential household, demonstrating how investing in a solar system can lead to substantial annual savings, covering the module costs within a few years.
