With an installed capacity of over 20 MW, GSolar is committed to addressing the rural, agricultural, residential, commercial & industrial markets in Pakistan. GSolar - a solar EPC company offering an in-house PPA facility was established by three experienced engineers with the objective of addressing Pakistan's energy deficit through sustainable and viable technologies and business models back in 2015.
The company's Chief Executive Officer (CEO) Zain Abdullah talking to Business Recorder said that GSolar has now become one of the largest solar EPC in the country with a nationwide presence. He said solar is becoming increasingly important part of the energy mix in the country. Large-scale solar plants, he said can help our industries reduce their overall energy costs and become more competitive internationally.
In addition, it is developing a 50MW solar IPP. GSolar's C&I business has clients across the spectrum including schools, banks, retail outlets, textile mills, steel mills and other manufacturing enterprises, eg, include Atlas Group, McDonalds, Daewoo, Institute of Business Management and JBL among others.
Currently, the global industry is undergoing massive paradigm shift. C&I solar plants are being deployed via Power Purchase Agreements (PPAs) rather than on a CapEx basis. GSolar is Pakistan's only solar EPC company offering an in-house PPA facility. C&I clients pay for the energy produced, while they take care of the project's CapEx, OpEx and O&M.
On the 20th of July, 2019, GSolar also hosted an event "Transforming Pakistan's Renewable Energy Landscape" at Sindh Governor House. President Dr Arif Alvi graced the occasion as the Chief Guest. At the event GSolar announced its financial partnership with Vitol and technical collaboration with BELECTRIC.
Chairman GSolar Mushtaq Chhapra said "We at GSolar are very pleased to have Vitol come onboard as our financial partner. This is further evidence of their commitment to Pakistan and proof of their belief in the long-term success of our economy. "We are also pleased to acknowledge BELECTRIC, our technology partners, who like us believe in the enormous opportunity of large scale solar plants in Pakistan. Today's announcement of our partnership with Vitol and BELECTRIC is a milestone for GSolar & Pakistan's solar industry."
Managing Director at Vitol, Dubai Farid Masood said: "We strongly believe in the transformative nature of solar as it becomes an integral part of the energy mix. Our partnership with GSolar, is further evidence of our commitment to Pakistan and to the renewable space. We are initially committing to create a platform to deploy 50MW per year of solar adoption in the commercial and industrial sectors."
Managing Director of BELECTRIC Gulf Martin Mock said: "We firmly believe that Pakistan is ideal for large scale solar because it is blessed with abundant solar resources. BELECTRIC plans to train GSolar's engineers using industry-leading and best -in-class practices in solar PV design, engineering and installation. We are very excited to work with our local partners GSolar in providing the latest solar engineering solutions for clients here in Pakistan."
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