GSolar – a solar EPC company has joined hands with Vitol and BELECTRIC for financial and technical collaboration. GSolar’s Chief Executive Officer (CEO) Zain Abdullah said that GSolar has now become one of the largest solar EPC in the country with a nationwide presence.
Solar is becoming increasingly important part of the energy mix in the country. Large-scale solar plants can help our industries reduce their overall energy costs and become more competitive internationally.
In addition, it is developing a 50MW solar IPP. GSolar’s C&I business has clients across the spectrum including schools, banks, retail outlets, textile mills, steel mills and other manufacturing enterprises, eg, include Atlas Group, McDonalds, Daewoo, Institute of Business Management and JBL among others.
Currently, the global industry is undergoing massive paradigm shift. C&I solar plants are being deployed via Power Purchase Agreements (PPAs) rather than on a CapEx basis. GSolar is Pakistan’s only solar EPC company offering an in-house PPA facility. C&I clients pay for the energy produced, while they take care of the project’s CapEx, OpEx and O&M.
In the last week of July, 2019, GSolar also hosted an event “Transforming Pakistan’s Renewable Energy Landscape” at Sindh Governor House. President Dr. Arif Alvi graced the occasion as the Chief Guest.
At the event GSolar announced its financial partnership with Vitol and technical collaboration with BELECTRIC.
Managing Director at Vitol, Dubai Farid Masood said: “We strongly believe in the transformative nature of solar as it becomes an integral part of the energy mix. Our partnership with GSolar, is further evidence of our commitment to Pakistan and to the renewable space. We are initially committing to create a platform to deploy 50MW per year of solar adoption in the commercial and industrial sectors.”