ArticlePress Release

Oslo Power Set To Redefine Renewable Energy Sector in Pakistan With a New Partnership

3 min read

In a significant move to further its mission of promoting sustainable and renewable energy solutions in Pakistan, Oslo Power and their subsidiary company, Terranova Energy, have announced a strategic partnership with ICS Group of Companies. This collaboration aims to leverage the strengths of both entities to enhance the impact in the solar energy sector in Pakistan.

The solar power installations presently have seen remarkable growth in Pakistan, with an installed capacity of over 2,368 MW as of FY22, reflecting the growing popularity and potential of solar energy.

To meet the solar needs of the clients efficiently, Oslo Power has entered into a strategic partnership with ICS Group of Companies.

Overview of Oslo Power

Founded in 2022 by two visionaries, Oslo Power & Energy Pvt Ltd has rapidly established itself as a key player in Pakistan’s solar energy sector. The founders, driven by their entrepreneurial spirit, aimed to address the country’s energy crisis by promoting sustainable energy sources. By 2024, they have made significant strides, establishing numerous mega solar projects and diversifying into commercial, government, and residential sectors.

Overview of ICS Group of Companies

ICS, known for its leadership in logistics, automotive, and pharma sectors, has acquired a 30% stake in Oslo Power. This partnership is set to synergize the strengths of both companies, contributing significantly to the solar industry in Pakistan.

ICS Group will play a crucial role in this partnership by providing the necessary capital for growth, utilizing its established logistics infrastructure, and bringing its invaluable business growth experience.

Strategic Goals and Vision of this Partnership

Growth Potential in Solar Energy

Statistics show that Pakistan’s current energy mix is about 58% fossil fuels, 30% hydropower, and 10% renewables and nuclear power. The solar energy market size in Pakistan is set to increase from 1.3 GW in 2023 to 9.77 GW by 2028, showcasing immense growth potential.

Utilizing Combined Resources

The primary objective of this partnership is to utilize the combined resources of both companies to propel Oslo Power to new heights and contribute to Pakistan’s renewable energy goals robustly. This includes capturing greater market share, offering innovative solutions like Power Purchase Agreements (PPAs) and deferred payment models, and developing domestic products and smart energy systems.

Commitment to Sustainability

At the core of this partnership is a shared commitment to sustainability and clean energy. Both companies envision a future where renewable energy solutions are accessible to all, contributing to a greener Pakistan. By reducing carbon emissions and implementing CSR initiatives, Oslo Power and ICS Group aim to create a positive impact on the environment and communities.

Expected Outcomes of the Collaboration

The partnership is expected to lead to significant growth for Oslo Power and Terranova Energy, both locally and globally. With the combined resources and expertise, the companies aim to offer enhanced post-sales services, including maintenance and customer support, ensuring customer satisfaction and retention.

Through this partnership, Oslo Power will gain access to ICS Group’s extensive network of offices and warehouses across Pakistan. This will not only improve the company’s logistics but also provide better access to customers nationwide. The enhanced reach will allow Oslo Power to contribute towards a greener Pakistan by offering a broader range of solar products and services, meeting the diverse needs of residential, commercial, and government sectors.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button