Chinese company Hanersun announced the signing of a significant Joint Venture agreement with My Energy, one of the largest energy companies in Pakistan, to develop a total capacity of 500MW solar projects. Valued at a substantial amount, this collaboration marks Hanersun’s further entry into the burgeoning Pakistani market and lays the foundation for deeper development of clean energy solutions.

The agreement was signed at a ceremony held at a local hotel, with Vice President of Hanersun Technologies, Sunny Sun, and CEO of My Energy, Tariq Wazir Ali, signing the agreement.

Under the terms of the JV, an investment of 700 million USD will be made for the joint venture involving different 500 MW solar projects. This will include the establishment of distribution networks, dealers networks, warranty and service centers, as well as flagship stores.

Speaking at the signing ceremony, CEO My Energy, Tariq Wazir Ali, emphasized the importance of providing sustainable energy solutions in a country that currently relies heavily on expensive furnace oil and diesel for electricity generation. He highlighted the potential for significant cost savings and the need to shift towards cleaner energy sources such as solar power.

Ali also stressed the importance of focusing on the steel and agriculture sectors in terms of solar energy solutions.

He announced plans to complete several 500 MW projects under the joint venture within the first year.

Hanersun will contribute its industry-leading solar module products and technologies. The vice president of the company, Sunny Sun, reiterated that this landmark partnership exhibits Hanersun’s expanding leadership in facilitating large-scale clean energy development globally through sustainable cooperation. Hanersun is committed to working closely with My Energy to form a strong competitive advantage through localized manufacturing and customized solutions based on its solar expertise.