Islamabad: A United States (US) firm has announced its plans to invest in the solar energy sector of Pakistan, a news source reported. The firm will do so through a joint venture with a local company.
The US-based company had previously introduced mobile solar technology in Pakistan. This technology is usable for civil and military purposes.
US Embassy Commercial Officer in Pakistan Mark Russel made the announcement for the investment during a ceremony held in Islamabad. He was accompanied by US company Solar Stick’s Pakistani partner Net Power Company CEO Muslim Lakhani.
Russel stated that Washington was interested in expanding its relations with Islamabad. He added that US firms wanted to invest in the country’s solar sector as it indicated a lot of potential for areas where electricity is not available easily. He revealed that they have formed a joint venture with Net Power Company.
Lakhani stated that many areas of the country were deprived of electricity. Lakhani added that solar energy could also cut cost of production of electricity, improve the country’s energy mix, and control circular debt.
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