Islamabad, February 25, 2022 (PPI-OT):The U.S. Consul General Lahore William K. Makaneole affirmed the United States’ support for clean energy projects during a virtual signing ceremony for two partnership agreements in Punjab under the Pakistan Private Sector Energy (PPSE) program. The PPSE program is a four-year initiative funded by the U.S. Mission in Pakistan to support small and medium-scale clean energy developers throughout Pakistan.
“Punjab’s strong potential for clean energy and dynamic public sector make it a prime partner for clean energy investment,” said Consul General Makaneole. “Eleven private sector projects have already been selected to benefit from advisory services under Pakistan Private Sector Energy project, which include solutions for solar, off-grid distributed generation, electric mobility, and energy efficiency,” he added.
The PPSE project is implemented by the Private Financing Advisory Network (PFAN), a global network of renewable energy financing experts who promote private investment in the energy sector, with a focus on low-cost, renewable energy sources critical to expanding economic growth.
During the event, PFAN signed partnership agreements with the Bank of Punjab, to provide access to finance, and Yellow Door Energy, to seek sustainable energy solutions. Representatives from the private sector, the Punjab provincial government, and financial institutions were in attendance.
“It is imperative to move towards more sustainable energy solutions, as Pakistan is one of the most vulnerable countries with regards to climate change. Projects like PPSE are bringing the public and private sector together to innovate and strengthen our energy sector,” said Saniya Awais, Managing Director of the Punjab Power Development Board.
The U.S. Mission supports Pakistan’s future energy security through technical support to improve planning processes and operational efficiency, introduce new technologies, and transition towards a competitive market structure with more private sector participation.
For more information, contact:
Spokesman
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U.S. Embassy, Islamabad- Pakistan
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