China has always proven to have the best friendly relations with Pakistan. Currently, of the total solar energy investments of Pakistan, China has been the chief investor in 87 percent of the projects. 144 million dollars of foreign investments in solar power plants have been made in the country out of which, 125 million dollars have been invested by our neighboring country in the north.
Quaid e Azam solar park, generating almost 400MW of solar energy out of the 530MW total generation capacity, has also been built by China Tebian Electric Apparatus Xiniiang New Energy Co, which accounts for 75 percent of the total solar energy generated in the country.
Chinese companies have also been the major suppliers of mini solar grids including the ones in Jandola, Orakzai and Mohmand district which are almost near to completion and will be providing green and uninterrupted enrgy supply very soon. The solar energy market of Pakistan is also expected to record a CAGR of 2.5% within the next 5 years.
The average utilization rate of solar energy in China is far more than that in Pakistan which is proof of the extremity of opportunities to be tapped in the Pakistani solar market. Chinese companies are also more likely to expand their knowledge about the technology by further investing and working in Pakistan.
The government of Pakistan has also been looking forward to making the country self sufficient on energy and using solar power technology to do so in order to get rid of the high prices of imported electric power which produce a very heavy burden on the treasury of the country. So the Chinese investors are also going to have a supporting government on their side and the projects are bound to be beneficial for both the parties.