Pakistan becomes Asia’s second-largest buyer of Chinese solar modules

ISLAMABAD: Pakistan has become an important new market for Chinese solar energy companies, marking a key step in its journey towards energy transformation.

According to the China Photovoltaic Industry Association (CPIA), in the first half of 2024, Asia surpassed Europe as the largest market for Chinese photovoltaic (PV) exports, with Pakistan emerging as the second-largest market for solar module exports after Europe.

During this period, China exported inverters worth RMB 1.714 billion to Pakistan.

In August alone, inverter exports to Pakistan were valued at 326 million yuan, representing an impressive year-on-year increase of 429.04 per cent. The rise in solar installations is evident, with solar panels now commonly seen on factories, homes, hospitals, and even mosques.

This sharp rise in photovoltaic exports and related products highlights Pakistan’s growing need to shift towards renewable energy sources, according to China Economic Net. “Electricity prices continue to rise, so people are trying to find their own way out,” said Abbas, a Pakistani trader, at the Investment and Trade Forum for Cooperation between East and West China.

As of June 2023, Pakistan’s installed solar power capacity was 630 megawatts, accounting for just 1.4 per cent of the country’s total power generation capacity, leaving substantial potential for growth.

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