In the near future, numerous schools in Punjab will harness solar power to generate electricity
In a notable development, the Punjab Education Foundation (PEF) and the Bank of Punjab (BoP) officially solidified their partnership by signing a Memorandum of Understanding (MoU) on Friday.
This collaboration aims to make substantial strides in providing solar panels to over 7,000 schools in Punjab affiliated with PEF. The primary objective of this alliance is to empower educational institutions with sustainable energy solutions through accessible installment loans.
Shahid Farid, Managing Director of PEF, and Salman Shah, Head of Retail Finance Division at BoP, formally endorsed the MoU. During the signing ceremony, MD Shahid Farid underscored the potential positive impact of the initiative on the educational landscape.
The introduction of solar panels is anticipated to significantly reduce electricity expenses for PEF’s partner schools, simultaneously providing environmentally friendly electricity to more than 2.7 million students.
This collaborative endeavor between PEF and BoP exemplifies a forward-thinking approach to addressing energy needs in education, fostering sustainability, and contributing to a more environmentally friendly landscape.