Chinese Company to Make Batteries in Pakistan
Kohinoor Energy Limited (PSX: KOHE) and China’s Hebei Juhang Energy Technology Group have signed a nonbinding memorandum of understanding to … Read More The post Chinese Company to Make Batteries in Pakistan appeared first on ProPakistani .
Chinese company Kohinoor Energy Limited (PSX: KOHE) is set to collaborate with Chinese firm Hebei Juhang Energy Technology Group on a battery assembly and manufacturing venture in Pakistan. The MoU, disclosed to the Pakistan Stock Exchange on October 1, outlines plans for joint production, marketing and sale of lithium-ion battery packs, energy storage systems and related electrical equipment.
The initial capacity for the project is expected to range between 50 MWh to 100 MWh annually, potentially expanding up to 700 MWh to 1,000 MWh as demand and performance allow. This marks Kohinoor Energy's foray into battery assembly and energy storage, as the company currently operates a 124 MW power plant in Lahore and sells the generated electricity to the Water and Power Development Authority.
The Memorandum of Understanding is nonbinding and contingent upon further evaluation, approvals and definitive agreements. The market for lithium-ion battery packs and energy storage systems in Pakistan is growing due to increasing electricity costs, falling solar prices and changes to the net billing framework. Further updates on the project's progress will be shared with the PSX.
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