High energy prices and levies are becoming strong drivers for commercial and industrial (C&I) solar projects in
PV Magazine International 4:06 pm on May 28, 2024
Omar Mali of Shams Powe highlights C&I solar deployment rise due to high energy costs, tax burdens in Pakistan. Financing barriers exist; however, Shams Power raised $20M with GuarantCo backing post-bank financing challenges. Battery storage isn't economically viable yet despite a 5 MWh project.
- C&I Solar Expansion: Omar Mali notes increased solar projects in Pakistan, driven by high electricity costs and taxes.
- Financing Challenges: Securing finance remains a hurdle for renewable energy ventures despite Shams Power's recent $20 million funding success.
- Economic Hurdles of Battery Storage: Large-scale battery projects arent currently financially appealing due to import duties and costs.
- Shams Power's Contribution: With an installed capacity over 40 MW, Shams Powe operates diverse projects for multinational companies.
- Policy Implications: Import duties on batteries and lack of tax exemptions signify the need to revisit renewable energy incentives.
https://www.pv-magazine.com/2024/05/28/the-rise-of-pakistans-ci-solar-business/
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