Oct. 8, 2013 - Nizam Energy and Powerway have signed a cooperation agreement with a long-term perspective to jointly develop the photovoltaic market of over 1GW in Pakistan and the Middle East .
With the strategic partnership agreement signed, both parties agree:
1. to set up two JVs , JV-Pakistan is a company focusing on engineering and construction contract, while JV-Dubai will handle procurement and sourcing service, and project financing.
2. Both parties will work together to design and promote a commercial package solution to Independent Power Producer (IPP) and solar farm developers in Pakistan and Middle East market.
3. Powerway China will help to transplant OA (Office Administration system) and ERP system to JV-Pakistan so that in future, both parties can have instant access to the operation system.
"Powerway has established an enviable reputation in whole Asian PV market over the past years with 1.2GW of projects and has a diverse project experience, making it the ideal long term partner to work with in Pakistan and the GCC region. It is very exciting to have an alliance with Powerway for our strategic further development in Pakistan and the emerging solar market," said Mr. Usman Ahmad, Managing Director of Nizam Energy.
"Pakistan is a very promising market. We look forward to working with Nizam energy, who is very well recognized as the leading and innovative solar solution provider in Pakistan . Powerway has also set up JV companies in Japan and in South Africa. And now with Nizam Energy's support, we are able to offer to the market a real one stop solution, from manufacturing, to engineering, to construction, to financing, and to O & M service. Powerway, with Nizam Energy will offer Pakistan and GCC the most economical solar solutions for Solar Farms", said Mr. Benson Wu, CEO of Powerway.