Kuwait’s EnerTech Holding and Pakistan’s K-Electric are exploring a dynamic partnership to accelerate Pakistan’s transition to renewable energy. With a vision to reduce energy imports and increase clean energy’s share to 60% by 2030, the collaboration aims to leverage EnerTech’s expertise and K-Electric’s legacy to drive sustainable change. This venture aligns with K-Electric’s goal to serve five million customers with up to 30% renewable energy by 2030. Additionally, the alliance between Healthx Pakistan and K-Electric marks a significant stride in employee well-being, emphasizing data-driven preventive healthcare for a healthier and engaged workforce.
In a significant move towards promoting renewable energy in Pakistan, Kuwait-based energy firm EnerTech Holding is in talks with K-Electric, the country’s leading power supply company, to explore collaborative opportunities and investments. This partnership is geared towards accelerating Pakistan’s transition to cleaner energy sources, as outlined in a joint statement released by both entities.
Pakistan has been grappling with significant energy imports, which accounted for a substantial 30.7% of the nation’s total imports during the fiscal year 2022-23, as reported by the Pakistan Bureau of Statistics (PBS). Recognizing the need to reduce its dependence on imported fossil fuels and conserve foreign exchange, Pakistan has set ambitious goals. The nation plans to increase its clean energy share to 60% by 2030, a substantial leap from the current meager 4% contribution of renewable energy.
EnerTech Holding’s CEO, Abdallah Al-Mutairi, expressed enthusiasm for K-Electric’s aspirations for Karachi and its alignment with Pakistan’s renewable energy vision. He emphasized the potential of collaboration between EnerTech’s expertise and K-Electric’s established legacy, which could significantly expedite these efforts.
K-Electric envisions catering to five million customers with a projected demand of 5,000 megawatts (MW) of electricity by 2030. By leveraging investments and strategic partnerships with entities like EnerTech, the company is aiming to meet up to 30% of this anticipated demand through renewable energy sources. This strategic shift not only reduces reliance on imported fuels for electricity generation but also has positive implications for the national exchequer.
Moonis Alvi, the head of K-Electric, expressed eagerness to collaborate with global entities like EnerTech, citing their extensive experience and investment portfolio in the energy sector. He emphasized the importance of adapting best global practices to efficiently and effectively deliver energy to customers while striving for a greener and more sustainable future for Karachi and Pakistan.
EnerTech Holding, a subsidiary of the National Technology Enterprises Company (NTEC), which is under the Kuwait Investment Authority, has a well-established presence in over 65 countries. This global footprint positions them as a suitable partner for catalyzing Pakistan’s renewable energy drive.
The collaboration between Healthx Pakistan and K-Electric also marks a noteworthy development in the healthcare sector. This strategic partnership aims to improve the health outcomes of KE employees through Healthx’s Disease Management Program, offering evidence-based healthcare services. This program, with its hybrid ‘phygital’ model, combines on-ground and digital interventions for continuous monitoring and preventive care. The result is not only enhanced employee wellness but also cost-effective healthcare solutions.
This partnership reflects a shared commitment towards a healthier future, with K-Electric taking the lead in prioritizing the well-being of its employees through data-driven preventive care initiatives. The CEO of Healthx, Khaqan Sikander, praised this transformative journey, emphasizing the transition from reactive, costly care to proactive, data-driven, and cost-efficient healthcare solutions.
Muhammad Rizwan Dalia, Chief People Officer at K-Electric, highlighted the success of the preventive healthcare model adopted by K-Electric in recent years. This approach resulted in a healthier and more engaged workforce, while the partnership with Healthx promises to elevate their wellness initiatives to the next level.
As Pakistan advances on multiple fronts—renewable energy and proactive healthcare—these collaborations herald a promising era of sustainable growth, both in terms of energy and public health, for the nation and its people.