STAFF REPORT ISB: A new chapter of cooperation and diplomatic relation has begun between Pakistan and Norway. The Prime Minister, Muhammad Nawaz Sharif is on official visit to Norway. Prime Minister discussed various avenues of cooperation with Norwegian Prime Minister Erna Solberg including energy, education, infrastructure development etc. An important development was made as both countries come close to cooperate in a joint venture of setting up solar power plants in Pakistan in order to curb the menace of protracted energy crisis.
The MoU was signed between Norwegian company M/s Scatec Solar and Pakistan`s M/s Nizam Energy in the presence of executives of both countries. According to MoU both companies will jointly develop solar power plants in Pakistan whose generation capacity will be 150MW which will be enhanced in second phase of the project. The solar power plan will be setup in Sindh with approximate initial capital cost of $300.
“The project will assist to curb energy crisis in Pakistan by setting up solar power plants in the country to attain the objectives of clean energy for sustainable environment and development. The project is also significant in bringing both countries closer to each other and fostering the bilateral relation”, Muhammad Nawaz Sharif said while speaking on the occasion.