KE, China sign MoU for clean energy production
K-Electric (KE) and China Three Gorges South Asia Investment Limited (CTGSAIL) on Tuesday signed a memorandum of understanding (MoU) to join hands for production of 1,000 Megawatts (MWs) of clean renewable energy and its storage.
Under the MoU, China Three Gorges Corporation will install 2.6 Gigawatts power projects worth $6 billion and is actively undertaking investments in hydel, wind, solar, and PV power projects across emerging markets in Asia, Middle East and North Africa.
Under the agreement, K-Electric will take steps to install batteries to its large grid systems, which will enable storage of energy.
K-Electric Chief Executive Officer (CEO) Moonis Abdullah Alvi said that the agreement is aimed at increasing the production of clean, sustainable and affordable energy in the country’s energy mix.
The renewable energy projects will be implemented in different areas of the country, including Azad Jammu and Kashmir (AJK); he added.