K-Electric’s for Strategic Partnership in 3,000-MW Renewable Energy Project with ACWA Power, Saudia

K-Electric (KE) is eager to partner with Saudi company ACWA Power for a 3,000-MW
Renewable Energy project, contingent on a Government-to-Government (G2G) agreement
between Pakistan and Saudi Arabia. KE has committed to acting as a power off-taker and
strategic partner, providing robust payment security and leading local development efforts. They
are actively working on integrating solar energy, with plans for 800-1,000 MW, and are seeking
regulatory approvals for 600 MW.

KE is assessing its system’s capacity for renewable energy and believes that the Special Investment Facilitation Council (SIFC) can expedite this initiative. They propose inclusion in the SIFC’s power sector project list and a swift G2G arrangement between the governments to maximize benefits. KE anticipates reduced generation costs and relief for the Government of Pakistan through this project, which could be a catalyst for similar initiatives. They are ready to collaborate on project modalities with relevant authorities.