Two leading Chinese companies have decided to explore new wind power opportunities in Pakistan.
Boston-headquartered General Electric Company and Power Construction Corp of China will jointly undertake the job, according to Chinese officials.
These companies have already executed more than ten power projects in Pakistan in recent years.
Chinese companies have geared up their efforts to provide maximum support to Pakistan under the Belt and Road Initiative, which aims to strengthen nations on and beyond the ancient Silk Road and Maritime Silk Road routes through trade and infrastructure networks across Asia, Africa and Europe.
Pakistan has a strong potential of wind power generation in the long coastal belt where many Pakistani companies with their foreign counterparts are already working on various projects. Although wind power was unable to catch the attention of decision makers in the past, but now, it is being taken as a serious source of generation for the country’s increasing demand of electricity. Experts are of the view that still it needs to be paid more attention as it is the most economical way of producing energy and a popular one worldwide. Interest of the Chinese companies is a good indication that it may start finding the way.
For long, skeptics believed the B&R Initiative, which was launched in 2013, will ultimately benefit China and its companies more than others. There were even whisper campaigns that development is merely the ostensible goal of the initiative; the perceived truth was that it is China’s covert attempt to emerge as 21st-century hegemony.