Shams Power obtains funds for 10-MW solar portfolio in Pakistan

Shams Power has secured PKR 1.5 billion (USD 5.42m/EUR 4.98m) in debt to support the construction of 10 MW of small grid-connected rooftop and ground-mounted solar projects in Pakistan.

The capacity will be built at commercial and industrial sites across the country. The solar facilities are expected to cut 10,200 tonnes of carbon dioxide emissions annually, according to a statement from Wednesday.

The financing needed for the realisation of the projects was arranged with GuarantCo, part of the Private Infrastructure Development Group (PIDG), and Bank Alfalah.

Back in 2021, Shams Power sealed a similar deal with GuarantCo and Bank Alfalah, obtaining PKR 2 billion for the installation of 21.2 MW of solar power.

Lahore-based Shams Power is a distributed solar developer with a total of 27 projects and an installed capacity of 25 MW across Pakistan. It counts among its customers Coca-Cola, Mondelez, Metro Cash & Carry and AkzoNobel.

(PKR 100 = USD 0.361/EUR 0.332)

Choose your newsletter by Renewables Now. Join for free!