Vestwoods, an energy storage solutions provider that is part of Haier Energy, has reached a strategic agreement with Bahum Energy, a solar services company in Pakistan, to bring world-class energy storage solutions to the neighboring country.
The cooperation is expected to strengthen Pakistan's energy infrastructure and support its sustainable development goals, according to the agreement.
The partnership is expected to address Pakistan's critical challenges, including insufficient electricity generation, high energy costs and outdated infrastructure. Despite these hurdles, Pakistan boasts abundant solar resources and a nascent new energy market with immense potential, said executives of both companies.
Both companies aim to meet the urgent demand for low-cost electricity in the region, with energy storage solutions offering a reliable and stabilized power supply to households and enterprises alike, they added.
"In partnership with Bahum Energy, leveraging its local advantages, both parties will jointly build localized supply chain capabilities, and Vestwoods will deliver first-class energy storage products, including lithium batteries, to the Pakistani market," said Sun Shubao, general manager of the overseas marketing department at Haier Energy, the new energy platform of Haier Group.
Sun also highlighted plans to establish localized manufacturing and service systems, saying that both sides aim to modernize Pakistan's new energy sector, covering everything from production to sales.
Additionally, the two companies will explore innovative, localized marketing models to further support the market, he added.
Athar Hayat, chief executive officer of Bahum Energy, said that the cooperation marks a significant milestone for Bahum Energy and that the company is looking forward to leveraging Haier Energy's cutting-edge technology and expertise to revolutionize Pakistan's energy storage market.
Pakistan's energy storage market is poised for rapid growth, driven by increased demand for renewable energy solutions.
As the country transitions toward cleaner energy, the company anticipates significant opportunities for lithium battery technology to play a vital role in energy storage and stabilization, he said.
zhaoruixue@chinadaily.com.cn
