Karachi
\n\u201cPakistan\u2019s energy landscape is rapidly changing, and clean energy is increasingly taking center stage. At EnerTech Holding, we have been exploring various markets and identifying partners in leading utilities with whom we can collaborate and catalyze the transformation.
\nWe\u2019re very pleased to see K-Electric\u2019s ambitions for Karachi and its alignment with the country\u2019s renewable energy vision. We believe that a collaboration which combines EnerTech\u2019s expertise and K-Electric\u2019s legacy can have tremendous implications to accelerate these efforts.\u201d These comments were made by His Excellence Abdallah Al-Mutairi, CEO of EnerTech Holding during a meeting with CEO K-Electric, Moonis Alvi.
\nThe meeting between EnerTech and KE management marks a significant step towards furthering clean technology initiatives in the region, which form an integral part of KE\u2019s forward-looking vision.
\nIn addition to a PKR 484 billion investment plan in transmission and distribution until the year 2030, K-Electric has also shared a comprehensive Power Acquisition Program outlining the inclusion of up to 1200 MW of renewable energy into its generation mix through strategic partnerships across the country.
\nK-Electric anticipates that by 2030, the company will be serving 5 million customers with a demand of 5,000 MW. Through investments and strategic partnerships with entities like EnerTech, the company intends to serve up to 30% of this projected demand through renewable energy. This is also going to reduce dependence on imported fuels for electricity production, benefitting the national exchequer.
\nCEO K-Electric Moonis Alvi expressed his enthusiasm about the meeting, stating, \u201cNow, more than ever, it is important to address the energy trilemma that is facing almost 40 million electricity users across the country. We have to ensure reliability, affordability, and sustainability of energy, and our investment plans and the Multi-Year Tariff requests we have made with the regulator are specifically to provide the enabling environment to cater to the current and future needs of our customers.
\nWe look forward to working with entities like EnerTech, which have an established global footprint and an investment portfolio coupled with a network of experts in the energy space who can help us learn the best global practices and tailor our plans to deliver energy efficiently and effectively to our customers. We hope to work closely on opportunities that can accelerate Karachi and Pakistan towards a greener and more sustainable future.\u201d
\nEnerTech Holding is a leading force for strategic investments in renewable energy, clean technology, and energy efficiency. Their keenness to invest in Pakistan is indicated by a USD 750 million agreement with the Pak Kuwait Investment Company (PKIC) to collaborate and jointly explore investment opportunities and business potential within the country. EnerTech Holding is fully-owned subsidiary of the National Technology Enterprises Company (NTEC), which is a wholly-owned subsidiary of the world\u2019s oldest sovereign fund, the Kuwait Investment Authority, which has a presence in 65 countries in the world.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi \u201cPakistan\u2019s energy landscape is rapidly changing, and clean energy is increasingly taking center stage. At EnerTech Holding, we have been exploring various markets and identifying partners in leading utilities with whom we can collaborate and catalyze the transformation. We\u2019re very pleased to see K-Electric\u2019s ambitions for Karachi and its alignment with the country\u2019s renewable […]<\/p>\n","protected":false},"author":2,"featured_media":348749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-348716","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n