Islamabad: Netline, a leading Pakistani energy solutions company, has signed an exclusive agreement with Saudi-based renewable energy firm Tamheed Energy for solar power projects in Saudi Arabia.
The agreement was signed by Aamir Khan, senior board member of Tamheed Energy, and Umair Zavary, managing director of Netline Group at the Netline office in Karachi. The estimated worth of the 20MW projects is $10 million.
The exclusive deal aims to improve collaboration on solar projects, demonstrating the commitment of Pakistan and Saudi Arabia to sustainable energy solutions.
Umair Zavary said that the partnership “will benefit not only Pakistan but also the region and open the door to more opportunities” in the renewable energy sector.
Under the project, the Pakistani company will develop solar projects with a power generation capacity of almost 20MW for Saudi Arabia’s futuristic Neom city as well as other regions of the Kingdom, Zavary told Gulf News.
Saudi Arabia’s $500 billion Neom city will have a renewable energy demand of around 20 gigawatts.
The agreement comes after Netline Group’s successful Series A funding at a $4.5 million valuation of the company. The partnership with Tamheed Energy will provide the company with an opportunity to tap into the huge potential of the Saudi market, while also giving Tamheed Energy ac-cess to Netline’s solar technology and expertise.
Netline, the power and energy solutions specialist company owned by Karachi’s Zavary family, recently unveiled its renewable energy ambitions to boost domestic solar manufacturing and accelerate Pakistan’s shift from imported fuels to clean energy.
The company plans to begin manufacturing solar panels to “meet the local demand” and eventually “to make Pakistan an exporter of solar panels”, Umair Zavary told Gulf News in a recent interview.
The Pakistani solar energy pioneer, offering renewable energy solutions since 2002, is also building a modern $30 million solar panel manufacturing facility on the outskirts of Islamabad with a 180MW of electricity generation capacity annually.
Netline has so far installed solar systems with a power generation capacity of almost 15MW with 400 active locations across the country from Skardu to Karachi.