ET Solar Energy Corp. (ET Solar), a smart energy solutions provider, has partnered with TechAccess to co-invest and construct two solar PV power plants totaling 21.5MW in Pind Dadan Khan, Punjab, Pakistan. The projects are planned to be completed in the first half of 2016 and will be connected to the local grid.
Acting as the EPC/O&M provider and a minority investor, ET Solar will be offering turnkey solutions including engineering and design, off-shore equipment supply, on-shore civil and electrical construction, project operations and maintenance. The ground-mounted projects, one in 11.5 MW and the other 10 MW, will be built on saline-alkali lands.
These projects are within the first 50 MW quota approved in January 2014 by Alternative Energy Development Board, Pakistan, under the country's Solar PV Tariff Determination. Furthermore, they are also within the first batch of solar projects approved under the upfront tariff regime by National Electric Power Regulatory Authority of Pakistan.
"The high priority that the Pakistan authorities give to solar, the country's economic growth prospect, and the tremendous support from TechAccess give us strong confidence to participate in the market growth," Dennis She, President and CEO of ET Solar, commented. "Moreover, we are truly proud to play an instrumental part in solving Pakistan's mounting energy shortage in these and the upcoming projects with a near term target of 100 MW. These projects will not only solidify our position as a world leading EPC/O&M provider but also add to our global IPP portfolio."
"In partnership with ET Solar, we are excited to bring green solar energy to Punjab as the majority shareholder of the projects," Shomail Ghalib, CEO of TechAccess said. "Under the second round of tariff determination, we share a confident and positive expectation for Pakistan's PV market growth, and we look forward to working closely with ET Solar to co-develop and invest in another 3x25 MW solar PV projects in the next 1-2 years."
