LAHORE: Pakistan, with a potential of 40 GW of solar power, has set a target of achieving 20 percent of its electricity from renewable sources by 2025.
China, with its abundant resources, innovative technology, and extensive global relationships, could significantly contribute to achieving Pakistan’s solarization target.
The consensus was established in a think tank session of the Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) held here on Thursday at Chamber Secretariat.Despite vast potential for solar energy, Pakistan has only scratched the surface of its capabilities. The country is blessed with abundant sunshine, making it an ideal location for solar power generation. Pakistan’s government, recognizing the importance of renewable energy, has introduced favorable policies and incentives to promote solar energy development. The China-Pakistan Economic Corridor (CPEC) has also played a crucial role in fostering solar energy cooperation between the two countries.
President PCJCCI Moazzam Ghurki observed that China is large-scale development of solar power, coupled with continuous innovation and a complete industrial chain, is driving down production costs and making new energy products more affordable globally.
This shift benefits the global community, whose current solar capacity still falls short of quantities needed to achieve decarbonization goals. Developing nations in particular require more advanced solar capacity to make electricity more accessible and cost-effective for both households and businesses.