The meeco Group and Packages Limited bound by PPA contract
Zug/Lahore. On February 18th Packages Limited, a pioneer packaging solutions provider in Pakistan, and oursun Solar Power Ltd. a subsidiary of The meeco Group closed a Power Purchase Agreement (PPA) amounting to a total initial capacity of 3 MWp, with a possibility to extend the installation’s capacity up to 8 MWp in the near future. The solar installation will be built with tier one photovoltaic (PV) panels and tier one European inverters as per the standards established by The meeco Group for its global projects.
Within the PPA contract scheme, oursun Solar Power Ltd. will generate green energy, which it will sell to Packages Limited at a price fixed by the contract for the next 10 years to come. The system will ensure a constant and forecast able energy source during daily sunshine hours, enabling Packages Limited to rely on stable and predictable costs, thus reducing their dependency on an instable energy grid with rapidly increasing costs per kilowatt-hour.
“We are happy to be working with this leading and visionary company, and enabling them to be provided with green electricity thanks to a safe and stable energy source – the sun,” explains Syed Saad Zafar, CEO of oursun Solar Power Ltd., who has negotiated and executed this PPA with Packages Limited since November 2013. “Our partnership will allow Packages Limited to be energetically more autonomous, and therefore be able to produce independently from the energy grid’s hazards”, adds Mr. Zafar.