On May, 23, in the 2nd seminar of international business opportunities in Punjab, Pakistan, Xinwei and Development Committee of Power in Punjab, Pakistan, officially signed Memorandum of PPDB. The two parties reached consensus on in-depth cooperation of new energy field. Cherif, chief minster of Punjab and Chen Xiaoming, board member of Xinwei Group, attended the contract-singing ceremony.
According to the agreement, Xinwei Group intends to input and build wind power resource project of 1 million kilowatt in Punjab, Pakistan and to join local government in development of rich energy resources in local places. According to Cherif, chief minister of Punjab, they show high welcome to Xinwei’s input to wind power and solar energy and the local energy department would go to great lengths to provide backup.
Punjab lies in the northeastern corner of Pakistan that is adjacent to China. it is the No. one province with most population and the most advanced economy. There goes a saying in Pakistan that ‘whoever wins Punjab wins over the whole Pakistan’. As ‘One Belt, One Road’ Initiatives are intensified, the government of Punjab pays more and more attention to cooperation with outstanding Chinese companies, which creates more opportunities to Chinese companies.
In recent years, Xinwei is rapidly developing in the Southern Asian Area in terms of new energy business. Other than Pakistan, Xinwei independently or jointly owns 4 million kilowatts of resources in India. The company plans to invest 3 billion USD in five years to establish a wind power field with 2 million kilowatts. It would bring about 4.8 billion degrees of power that can satisfy demands of power use of 2 million households throughout the year.