Efigen to enter the Pakistani residential and commercial solar market
Efigen plans to enter the Pakistani residential and commercial solar market by acquiring Renewables & Technology (RnT) Pakistan.
Efigen, a leading global developer of solar farms, battery storage, and energy services, announces that it has agreed to the acquisition of solar developer Renewables & Technology (RnT) Pakistan, further expanding its global solar business.
This acquisition represents a significant milestone, reaffirming Efigen’s presence in the country and combining global expertise, with a local commercial and engineering presence.
Efigen and Renewables & Technology (RnT) Pakistan have a combined solar portfolio of over of 1.5 GW, making Efigen one of the largest solar development companies in Pakistan.
Efigen expects improved cost synergies annually through supply chain improvements, branch consolidation, and scaling of projects.
While both companies will undoubtedly benefit from this acquisition, the main beneficiary will be Pakistani home and business owners, who will have direct access to secure and low-cost energy services.
Zafar Mahmood, Managing Director of Efigen Asia said:
“RnT’s pipeline, highly experienced team, and proven performance, as an agile residential and commercial solar project developer, make it a compelling fit for Efigen’s integrated energy services. This acquisition enables Efigen to enter Pakistan’s residential and commercial markets utilising our global experience in large-scale energy projects; and fully committing to our goal of providing all Pakistanis with access to reliable and affordable electricity.”
Muhammad Qasim Javed, CEO of Renewables & Technology (RnT), commented on the acquisition:
“The combined efforts and strong commitment of both organizations allowed us to reach this significant agreement. With the support of Efigen, a top-tier global developer, this new project will enable us to give all homes and companies in Pakistan access to high-quality, affordable solar”.
About Efigen
Efigen is a global independent provider of comprehensive energy efficiency and renewable energy solutions headquartered in Medellín, Colombia, with offices in Pakistan, México, Bahrain, Dubai, Saudi Arabia, Great Britain, and the U.S.A. and with a presence in key markets, specifically developing countries in Latin America and Asia. Efigen develops commercial, utility-scale, and distributed generation renewable energy projects. It also undertakes project structuring, finance, engineering, procurement & construction and offers comprehensive operations as well as maintenance services for all renewable energy projects. For more information, please visit www.efigen.com or get in touch at [email protected].
About Renewables & Technologies
Renewables and Technologies (Pvt) Ltd is a solar system installation and automation company covering solar pumping and solar street lights, CCTV surveillance, bio-gas plants, programmable logic controllers (PLCs) and microcontrollers, professional engineering services as well as import and export services. For more information, please visit www.rntsolar.com.
Press releases provided by Efigen.
