Spotlight on Clean Energy SMEs in Punjab: Scaling Up and Access to Finance
The Pakistan Private Sector Energy Project, funded by USAID and implemented by UNIDO and Private Financing Advisory Network, held a multi-stakeholder webinar focusing on Punjab province’s potential in the country’s clean energy transition on 24th February 2022. The event brought together diverse perspectives from academia, industry, government, development sector and financial institutions.
The U.S. Consul General Lahore William K. Makaneole was keynote speaker and affirmed the United States’ support for clean energy projects, “Punjab’s strong potential for clean energy and dynamic public sector make it a prime partner for clean energy investment”.
During the event, PFAN signed partnership agreements with the Bank of Punjab, to provide access to finance, and Yellow Door Energy, to seek sustainable energy solutions. Representatives from the private sector, the Punjab provincial government, and financial institutions were in attendance as well.
“It is imperative to move towards more sustainable energy solutions, as Pakistan is one of the most vulnerable countries with regards to climate change. Projects like PPSE are bringing the public and private sector together to innovate and strengthen our energy sector,” said Saniya Awais, Managing Director of the Punjab Power Development Board in her address.
The event followed project developer presentations by PPSE pipeline projects, Ouroborus and HAC Agri Ltd, as well as a discussion on the challenges and opportunities for cleantech and energy SMEs in Punjab.
An investor panel was also took place with Mr. Asif Riaz, Group Head of Retail and Priority Lending, Bank of Punjab; Mr. Umer Farooq, VP Investments Pakistan, Yellow Door Energy; Dr. Fatima Khushnud, General Manager, Business Development, Engro Energy Limited; Ms. Rabia Bukhari, Program Management Specialist, Energy, USAID and Mr. Sohail Qadri, Punjab Board of Investment and Trade (PBIT).
To catch up on the discussions and learn more about PPSE, watch the webinar recording here: https://www.youtube.com/watch?v=fum0zVkSCxA&t=16s