ISLAMABAD: Ghani Global Limited (GGL), a Lahore based Islamic-commerce oriented industrial and manufacturing group, on Wednesday announced its foray into the manufacturing of sophisticated technology for enhancing energy storage efficiency through production of long-life super capacitor batteries in Pakistan.

In this connection, the project launching ceremony was held on Wednesday.

Experts of the said group informed that the project shall be completed in a joint venture arrangement with M/s Kilowatt Labs Inc., New York, USA.

They informed that the global energy storage technology market is projected to increase 2.5-4 terawatt-hours (TWh) annually by 2030.

According to the Report on Energy Storage Market of December 2020 of the US Department of Energy’s Research Technology Investment Committee, the global market consists of two types: stationery and mobility/transportation markets; and the combined market estimated to grow three to five times the current 800-gigawatt-hour (GWh) on annual basis. The rapid decrease in battery storage costs and increased variable renewable generation has led to a surge in market deployments of energy storage across the global electrical (stationary) and transportation (mobility) sectors.

There is growing applicability of the storage technologies in the mobility/transportation sectors for the battery and hydrogen storage purposes; while the stationary or grid related utility of the storage technology exists in the transmission & distribution of Microgrid, long duration industrial storage purposes, EV Charging infrastructure, uninterruptible power sources (UPS) for data centers, warehouses, telecom towers and military/security purposes, they maintained.

In Pakistan, the energy storage market and capacity is quite basic and fragmented. The country is best by frequent power outages, unreliable transmission infrastructure and low efficiency storage alternatives. The introduction of long life (about 45 years) super capacitor energy storage solutions by GGL, will not only improve the usage of green and alternative energy technologies in the country, but will add to long term energy security situation of the country.

With the start of manufacturing of newer generation technology-oriented energy solutions in Pakistan, Ghani Global Group will add yet another dimension to the localization of industry in the country.

Copyright Business Recorder, 2021