KARACHI, PAKISTAN: K-Electric Limited (KE) has announced the launch of K-Solar, a renewable energy company that will enable the shift towards a greener and cleaner energy future.
K-Solar is the solar power solutions subsidiary of K-Electric, a privately owned and vertically integrated power utility that has been the sole power supplier to Karachi and its neighboring areas.
“The world is moving towards greener and cleaner energy sources and we ae moving with it. With a legacy of over one hundred years behind us, K-Solar is building upon K-Electric’s expertise in providing innovative and competitive power solutions,” company said.
To serve its residential customers, K-Solar teams will conduct site surveys and audits of their energy needs in order to recommend the best easy-to-manage solar solutions for them.
To service the growing commercial sector, comprising banks, retail outlets, educational institutions, healthcare organizations etc., K-Solar will provide sustainable and long-term solar solutions that will allow for seamless function, thereby allowing them to continue their contributions to the economy and society.
Moreover, the industrial sector will be specially serviced by K-Solar providing alternative energy generation options in-house. K-Solar teams will work with its industrial partners to enable them to reduce energy costs, increase energy independence and as a result, enhance productivity through uninterrupted power supply from the most technologically advanced solar solutions.
In November last year, KE incorporated a wholly owned subsidiary, KE Venture Company (Pvt) Ltd (KEVCL) to undertake different initiatives in the energy sector.
Initially, the subsidiary will explore investments in renewable energy. Another wholly owned subsidiary, K-Solar, has been incorporated under KEVCL, KE said. K-Solar will specialise in distributed generation. In addition, 150 megawatts of solar independent power producers in Vinder, Uthal and Bela are going to be developed as joint ventures under KEVCL.
Further, K-Electric (KE) and Pakistan LNG Limited (PLL) initialed the Gas Supply Agreement (GSA) for the supply of 150mmcfd RLNG for KE’s upcoming BQPS-III power plant. The $650 million, 900MW plant will bolster Karachi’s power supply.