LAHORE, Nov 22: The Punjab government on Friday signed three memoranda of understanding with a German company, Energiequelle Gmbh, for cooperation in the energy sector.

Under the agreements, the German company will set up a 100-megawatt solar power plant in Sahiwal as well as one plant each of biogas and biomass. The installation of the solar plant would be completed in four months.

Speaking on the occasion, Chief Minister Shahbaz Sharif welcomed the agreements.

“The Punjab government is making serious efforts for the implementation of power projects so that energy crises could be resolved. Agreements have been signed with several foreign companies also for overcoming loadshedding and their implementation would substantially reduce the energy problem in the country. Special incentives and facilities are being offered for investment in the sector,” he said.

Leader of the German company, Helmut Fugemann, said his company wanted to promote cooperation with the Punjab government in energy and initially a 100-megawatt solar plant would be established in Sahiwal. He also expressed interest in setting up a similar plant in Cholistan.

“Efforts would be made for production of equipment of the solar power plant in Pakistan, which would result in transfer of German technology to the country. Installation of the solar power plant in Sahiwal would be completed in four months,” he added.