Karachi January 18 2022: Shams Power Limited has successfully closed a PKR 2 billion project finance facility from Bank Alfalah Limited with a partial credit guarantee from GuarantCo, part of The Private Infrastructure Development Group (PIDG), to scale its portfolio of distributed solar projects across Pakistan.
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Shams Power invests in solar projects at Commercial and Industrial sites and sells electricity to its customers at a discount to the grid for the term of the contract.
This business model removes any investment requirement by clients, has no operations & maintenance hassle, or performance risk. Moreover, the equipment is transferred to the client at the end of the PPA, at no additional cost, giving them free electricity for the remaining life of the equipment.