ISLAMABAD: Caretaker Prime Minister Anwar-ul-Haq Kakar has directed the Power Division to coordinate with SkyPower Global Group which has shown an interest in direct investment of $ 800 million in Pakistan’s 1000 MW solar power initiative, well informed sources told Business Recorder.
M/s SkyPower was established in 2003 in Toronto - Canada and has +18 years of operation experience. The company is an independent power producer that develops, finances, builds, owns and operates utility scale renewable power projects across the globe.
M/s SkyPower has established more than 30 utility scale solar PV Parks. It is majority-owned by CIM, a transformative urban real estate and infrastructure fund manager.
Kakar seeks Chinese investment in Pakistan’s renewable energy sector
Kerry E Adler, President and Chief Executive Officer, SkyPower Global Group of Companies, in his letter cited the reference of caretaker Prime Minister’s address at the 78thGeneral Assembly.
He shared Green Giant Initiative, SkyPower’s signature project, saying that this ambitious venture represents a direct investment of $ 800 million propelling a groundbreaking 1000 MW solar projects in Pakistan.
“This initiative is meticulously crafted in alignment with UNECE’s guidelines for PPPs, echoing the UN’s Sustainable Development Goals. Given Pakistan’s importance in our strategic roadmap for 2024, we see this as an opportunity to jointly showcase to the world the transformative power of such partnerships, not only in catalyzing economic growth but in addressing the existential threat of climate change,” said Kerry E Adler.
“Our sterling track record, boasting over 35utility-scale renewable projects globally and trailblazing international collaborations, underlines our unwavering dedication to ushering in a brighter, sustainable future for all,” he continued.
The Government of Pakistan has set forth an ambitious goal to harness the power of Alternative and Renewable Energy for the benefit of its people. In the proposed energy mix from 2023 to 2031, the share of renewable energy has been increased from 41 per cent to 61 percent.
Copyright Business Recorder, 2023
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