Thousands of Punjab schools embrace solar energy

LAHORE: In a noteworthy development, the Punjab Education Foundation (PEF) and the Bank of Punjab (BoP) formally sealed a partnership on Friday by signing a Memorandum of Understanding (MoU).

This collaboration is expected to make remarkable strides in the provision of solar panels to more than 7,000 Punjab schools operating under the PEF umbrella.

The primary objective of this alliance is to empower educational institutions with sustainable energy solutions, and it will be facilitated through accessible installment loans specifically designed for the acquisition of solar systems.

Shahid Farid, the Managing Director of PEF, and Salman Shah, Head of Retail Finance Division at BoP, were the signatories to this pivotal MoU.

During the signing ceremony, MD Shahid Farid underscored the positive impact that this initiative is poised to have on the educational landscape.

The introduction of solar panels is anticipated to significantly reduce electricity bills for PEF’s partner schools, simultaneously providing eco-friendly electricity to over 2.7 million students.

This collaborative effort between PEF and BoP represents a forward-looking approach to addressing energy needs in the education sector, fostering sustainability, and contributing to a greener environment.

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