ET Solar and TechAccess Collaborate on 2 Utility PV Power Projects in Pakistan

ISLAMABAD, Pakistan, Feb. 9, 2015 /PRNewswire/ — ET Solar Energy Corp. (“ET Solar”), a leading smart energy solutions provider, announces its partnership with TechAccess to co-invest and construct 2 solar power plants totaling 21.5MW in Pind Dadan Khan, Punjab, Pakistan.

Acting as the EPC/O&M provider and a minority investor, ET Solar will be offering turnkey solutions including engineering and design, off-shore equipment supply, on-shore civil and electrical construction, project operations and maintenance.

These ground-mounted projects, one in 11.5MW and the other 10MW, are within the first 50MW quota approved in January 2014 by Alternative Energy Development Board, Pakistan, under the country’s Solar PV Tariff Determination. Furthermore, they are also within the first batch of solar projects approved under the upfront tariff regime by National Electric Power Regulatory Authority of Pakistan.

“The partnership marks a major milestone for us whereby ET solar brings our world class EPC expertise to a country that just starts developing solar. The high priority that the Pakistan authorities give to solar, the country’s economic growth prospect, and the tremendous support from TechAccess give us strong confidence to participate in the market growth,” Dennis She, President and CEO of ET Solar, commented. “Moreover, we are truly proud to play an instrumental part in addressing Pakistan’s mounting energy shortage in these and the upcoming projects with a near term target of 100MW. These projects will not only solidify our position as a world leading EPC/O&M provider but also add to our global IPP portfolio.”

“In partnership with ET Solar, we are excited to bring green solar energy to Punjab as the majority shareholder of the projects,” Shomail Ghalib, CEO of TechAccess said. “Under the second round of tariff determination, we share a confident and positive expectation for Pakistan’s PV market growth, and we look forward to working closely with ET Solar to co-develop and invest in another 3X25MW solar PV projects in the next 1-2 years.”