Kohinoor Energy Limited (KEL), an Independent Power Producer in the energy sector, and China’s Hebei Juhang Energy Technology Group have signed a non-binding memorandum of understanding to explore a joint venture in Pakistan for the assembly and manufacturing of lithium-ion battery packs and battery energy storage systems.
The company disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Thursday.
“On 1st day of October 2026, KEL and Hebei Juhang Energy Technology Group Co., Ltd. (Juhang), a company incorporated in the People’s Republic of China, entered into an MoU.
“The MOU records the parties’ intention to consider a joint venture in Pakistan for the assembly, manufacturing, marketing and sale of lithium-ion battery packs, battery energy storage systems, related products and associated electrical equipment,” read the notice.
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Kohinoor maintains a power plant of 124 MW capacity in Lahore and sells the electricity produced therefrom to a sole customer, the Water and Power Development Authority (WAPDA).
Meanwhile, the project is currently envisaged in phases: initial annual capacity of approximately 50-100 MWh, potential expansion to approximately 300-500 MWh and, subsequently, approximately 700-1,000 MWh, subject to market demand, business performance and the conditions stated below.
“The MOU is non-binding, and the transactions contemplated thereby remain subject to further evaluation and due diligence, applicable approvals and definitive agreements,” KEL added.
Pakistan is experiencing a significant “silent revolution” in renewable energy, with its market for lithium-ion battery packs and BESS growing rapidly.
Projections indicate that Pakistan’s imports of lithium-ion battery packs could reach 8.75 GWh by 2030. In July 2026, monthly lithium battery imports hit an all-time high of $88 million. The surge is attributed to high electricity costs, falling solar prices, and changes to the net billing framework.
