LoI issued for 'solarisation' of economic zones in KP
Last updated on: 24 February,2023 08:57 am
The foreign entity will undertake a complete feasibility study of the project
PESHAWAR (Web Desk) - An international company has been authorised to undertake a complete feasibility study for the ‘solarisation’ of economic zones in Khyber Pakhtunkhwa.
The Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC) has issued a Letter of Intent (LOI) to InfraCo Asia for the purpose.
According to a company's spokesperson, the issuance of LOI signifies the commitment of the KP-EZDMC and InfraCo Asia to work together in exploring the potential of solar energy and expanding its use in the province’s economic zones.
The ‘solarisation’ of economic zones in KP involves integration of solar power into the energy mix of these zones in order to provide quick and cost-effective source of energy.
It will also help to reduce the overall cost of doing business, as the cost of energy is a significant factor in the cost of production, the spokesperson further said.